Seattle’s percentage jump from studio to 1-BR is among the highest in nation
Let’s say you currently live in a studio apartment in Seattle. Given the state of the market, we assume that’s pretty likely. But maybe you’re feeling like it’s time to finally upsize and get a little bit more room to roam. You want to find a one-bedroom to call home. So what’s the cost difference, really?
RENTCafé did some analysis to find out how much more it costs to rent a larger apartment in the major U.S. cities. As you probably guessed, Seattle is near the top when it comes to price jumps.
On average, Seattle studio renters will pay $464, or 35 percent more per month, if they need the extra 223 square feet a one-bedroom apartment will bring them. That percentage jump is the third-biggest of any major city after Chicago (43 percent) and New York (41 percent).
Still, it’s all relative as the jump from studio to one-bedroom in New York City averages out to $1,169.
If you’re renting a one-bedroom and want to make a move to a two-bedroom, you’re looking at paying $439, or 24 percent more per month, to get that coveted extra 290 feet. That percentage jump is actually more in line with the pack and far less than New York (43 percent) or Los Angeles (41 percent).
It should be noted that the apartment inventory used for the study took only multifamily rental communities with at least 50 apartment units into consideration. Then again, that seems to be the only kind of apartment projects going up in Seattle anyway these days.
- Upgrading to a Larger Apartment—the Financial Implications of Having an Extra Bedroom [RC]
- Seattle rents slightly down but regional rents keep rising [CS]