In 2017, the average rent of an apartment for each of the four counties surveyed increased for the fourth consecutive year.
In March of 2017, the average rent of an apartment was $1,036 in Thurston County. This average was less than King and Kitsap Counties and comparable with Pierce County ($1,070).
One bedroom apartments in Thurston County rented out for an average of $909 in March of 2017. At the same time, two-bedroom apartments in Thurston County rented out for an average of $1,000. Rents are at historically high levels, which likely corresponds to recovery from the recession and low vacancy rates.
The vacancy rate for apartments in Thurston County was 2.7%, lower than King, Kitsap, and Pierce Counties. Thurston County has tended to have one of the lower apartment vacancy rates when compared with adjacent metropolitan counties.
Apartment vacancy rates vary from year to year, but have been in overall decline since 2010. In 2017, single-bedroom apartments had a 2.5% vacancy rate, and two-bedroom apartments had a 2.7% vacancy rate.