With rent skyrocketing nationwide in recent years, many people are looking for more affordable areas for their next rental. Finding affordable housing can be a challenge, but new trends in Bellingham, WA are showing some hope for renters in the city.
In October 2022, rental costs in Bellingham’s ZIP code area 98225 actually decreased from $1,850 to $1,600 according to RentHub. While this is still an 18% increase year-over-year, this area of the city may be showing promise for Bellingham renters looking for more affordable options in this Washington city.
Surrounding areas, such as the 98226 and 98229 ZIP codes are still seeing increases month-over-month, and have larger increases in price compared to 2021. For example, the 98229 ZiP code has increased 20% year-over-year with a new median rent of $1,800. Looking across time, the 98225 ZIP code remains significantly cheaper than the neighboring 98226 area, with average rent prices sitting around $300 lower from 2020 until now.
The 98225 ZIP code comprises the west half of Bellingham, and includes neighborhoods such as Fairhaven, Happy Valley, Sehome, and Cornwall Park. For renters looking for a bargain in Bellingham, these neighborhoods may be a good place to start.
Overall, the average rent for studio apartments in Bellingham decreased by 7% this month, and rent for one-bedroom apartments increased by 3%. In October, median rent for a one-bedroom apartment throughout Bellingham ranged from $1,295 to $1,325.
Johana Williams is a Regional Manager at Utopia Management with more than 20 years in property management and operational leadership. She writes about property management, landlord-tenant rules, and the rental market for Utopia Management.
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