Seattle market rental trends report

Over the past 3 to 6 months, Seattle rental prices have experienced a noticeable increase, with rents rising by an average of 5-8%. This uptick can be attributed to a combination of factors, including limited housing inventory, strong demand from both relocating professionals and students, and ongoing economic recovery in the region. Currently, the median rent for a Seattle apartment is approximately $2,400 per month.

Bellevue

Over the past 3 to 6 months, Bellevue rental prices have seen a moderate increase, with rents climbing by approximately 4-6%. This rise has been driven by continued demand from professionals in the tech and corporate sectors, along with limited new housing supply and ongoing interest in the city's proximity to major employers. The current median rent for an apartment in Bellevue is around $2,600 per month.

Kent

Over the past 3 to 6 months, rent prices in Kent have seen a modest increase, rising by about 4-6%. This change is primarily driven by increased demand as more residents are seeking affordable housing options outside of Seattle, coupled with a steady influx of people moving to the region for work and lifestyle opportunities. The current median rent for an apartment in Kent is approximately $1,725 per month.

Everett

Over the past 3 months, Everett has experienced a modest decline in rental prices for most apartment types. Compared to 6 months ago, median rents decreased by approximately 2.9% for studios, 2.9% for 1-bedrooms, and 1.4% for 2-bedrooms, while 3-bedroom units saw a slight increase of 0.5%. These changes suggest a cooling in the rental market, possibly due to a seasonal dip in demand or a stabilization after prior growth. The median rental price across all unit types is approximately $1,805 per month.

Apartment listings

Below are some recent listing examples.

Seattle

Astro Apartments

• Studio/1 bath
• Sq Ft: 535
• Rent: $2,067

Radius Apartments

• 1bed/1bath
• Sq Ft: 798
• Rent: $2,808

One Lakefront

• 2Bed/1Bath
• $3,078 
• 791 sqft

Skyglass Apartment Community

• 3Bed/2Bath 
• $5,164 
• 1,261 sqft

Bellevue

Apartments in Bellevue | The Baxter

• Studio/1Bath 
• $1,945 
• 470 sqft

Vicino Luxury Apartments

• 1Bed/1Bath 
• $2,829 
• 616 sqft

Hyde Square

• 2Bed/2Bath 
• $3,371 
• 1,037 sqft

Avalon Meydenbauer

• 3Bed/2Bath 
• $4,880 
• 1,582sqft

Kent

Dwell At Kent Station Apartments

• Studio/1Bath 
• $1,976 
• 647 sqft

Prose in Kent

• 1 bed/1 bath
• Sq Ft: 738
• Rent: $1,852

Midtown 64

• 2 bed/2 bath
• Sq Ft: 924
• Rent: $2,780

Pinnacle on Lake Washington

• 3 bed/2 bath
• Sq Ft: 1943
• Rent: $3,908

Everett

The Villas at Beardslee

• Studio
• Sq Ft: 487
• Rent: $1,613

Avalon Alderwood

• 1 bed/1 bath
• Sq Ft: 740
• Rent: $1,915

The Elliot at Mukilteo

• 2 bed/2 bath
• Sq Ft: 1,080
• Rent: $2,256

Reserve at Town Center

• 3 bed/2 bath
• Sq Ft: 1,476
• Rent: $3,396

(Data sourced from Apartments.com)