Bellevue passes Seattle as the Northwest's priciest apartment market

Annual rents declined or increased slightly in nine of the Puget Sound region's 10 most expensive apartment markets, according to new year-over-year figures as of July.

Then there was downtown Bellevue, where the average rent jumped 4.6 percent to $2,824.

That was enough to displace downtown Seattle as the priciest market in the region, according to a recent report from RentCafé.

Bellevue is still a bargain compared to the nation's most expensive market, New York City's Battery Park, where the average rent was twice as high at $5,657.

Downtown Bellevue's high-end apartment market has been boosted by the construction of new apartments, with Two Lincoln Tower the best example. One of the penthouses was leased for $24,300 per month, project builder Kemper Development said last summer.

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