HomeRenters InsuranceWashington rental prices drop 3% from 2020 prices

Washington rental prices drop 3% from 2020 prices


After two years of steady increases, the rental market is now seeing a drop in rental prices.

SPOKANE, Wash. — The average cost of rent in Washington state has dropped 3% since June, a new report from QuoteWizard found. However, the average cost is still up from 2020.

Since 2020, the average cost of rent has risen 23% in Washington. According to QuoteWizard, however, the average cost of rent has decreased 3% since June 2022. 

The average cost of a 1-bedroom apartment in Washington state is now $1,323. 

On top of rental prices dropping, rental insurance rates in Spokane and Washington state are below the nationwide average of $219 a year. 

Washington’s average rental insurance yearly premium is $179, with its monthly premium costing $15. 

Rental insurance is determined by:

  • Your insurance claims history and credit score
  • Your local environmental risks and crime stats
  • Your deductible and coverage level

Ways to save on renters insurance:

  • Look around for deals 
  • Bundle your renters and auto policies
  • Increase your deductible 


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