Rents are down in Seattle. But in the suburbs, they're rising

Rents in Seattle have been falling steadily since the start of the coronavirus pandemic.

But the opposite trend is emerging in the city's suburbs. In many cities outside of Seattle, rents are actually rising, a new report from ApartmentList found.

According to the study, rents in suburban areas nearby Seattle were up about 1% since the beginning of the year, while rents in Seattle dropped about 7% in the same time period. Some suburban areas outside of Seattle were also seeing much more significant rises in rent prices.

In Auburn, Washington, rents were up nearly 6% since the beginning of the year. In Lakewood, rents rose about 4%.

"While rents have declined steadily in the larger, denser, principal cities at the core of each metropolitan region, rents in the outlying suburban areas have, on the whole, rebounded to pre-pandemic levels," the study said.

The study found in 27 of the 30 large metro areas it analyzed, the cities in those areas were seeing "faster rent drops or slower rent growth" than the suburbs surrounding them.

"And in 11, including major economic centers like Atlanta, Dallas, and Philadelphia, apartments in the principal city are getting cheaper while at the same time apartments in the suburbs are getting more expensive," the study said.