Tacoma rent growth ahead of state, national numbers, according to new report
The latest review of rents nationwide by an apartment-listing service shows Tacoma bucking the national trend of declining rent rates.
Apartment List’s latest Market Trends report states that Tacoma had the 10th fastest growing rental rates among the nation’s 100 largest cities. Rents were up 0.7% in the past month, compared with the national rate of -0.2%, according to the report.
“Among the nation’s 100 largest cities, this ranks No. 10. Similar monthly rent growth took place in Huntsville, Alabama (0.7%), and Richmond, Virginia (0.6%),” the report added.
Fort Wayne, Indiana came in at No. 1 with 1.6 percent growth.
The rate of growth is slower than last year.
“Eight months into the year, rents in Tacoma have risen 3.5%. This is a slower rate of growth compared to what the city was experiencing at this point last year: from January to August 2024 rents had increased 4.7%,” it stated.
Apartment List, which produces monthly data on local markets along with its listing service, noted that median rent for 1-bedroom units in Tacoma was at $1,449 and $1,810 for two-bedroom units.
Rents in the city have risen on average by a total of 2.3% over the past 12 months, it noted.
“Tacoma’s rent growth over the past year has has outpaced both state (1.1%) and national (-0.9%) averages,” according to the report.
The citywide apartment vacancy rate is at 7.3%, up 2.2 percentage points from this time last year, the report stated.
Construction plans for new apartments have slowed, as evidenced by developers applying for the Tacoma’s multifamily property tax exemption, a program currently under review.
Just 10 projects have come before City Council for MFTE approval, compared with nearly 20 in 2024, 22 in 2023 and more than 30 in 2022.
Apartment List also took a look at how Tacoma compared with other cities in the region.
“Sammamish is currently the most expensive, with a median rent of $3,022. Lakewood is the metro’s most affordable city, with a median rent of $1,510,” it noted.
Lakewood also holds the honor of fastest annual rent growth at 4.3% among suburbs in the Tacoma-Seattle metro region year over year, while the slowest is in Kirkland at -4.0%, according to the report.
Previous reporting from The News Tribune contributed to this report.
This story was originally published September 3, 2025 at 5:00 AM.
