Report: City of Tacoma now has highest rent price hikes in the region

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    A new report released Thursday shows that rent prices are rocketing up faster in Tacoma than anywhere else in the Puget Sound metro region.

    Four of the five areas with the fastest-rising year-over-year rent increases were all in Tacoma, according to the report by real estate research firm Zillow.

    Central Tacoma showed the steepest average rental hike - nearly 10 percent higher than at the same time last year. That means an apartment that rented for $1,600 per month in 2017 would cost $1,760 today.

    The south end of Tacoma was the second-highest, with a 9.2 percent rent increase. The east side of Tacoma recorded an average 8.9 percent rent hike, and the west end came in at 8.3 percent over last year.

    Meanwhile, rent increases in Seattle were slowing. The average year-over-year rent increase in the Emerald City this year was only 3.3 percent. Last year it was up by 5.8 percent.

    On the other hand, the data showed that average rental prices in the Seattle metro area still remain well above those in Tacoma.

    The current median rent payment in Seattle is now $2,179. In Tacoma, average rents range from around $1,500 to $1,860.

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