Lake Forest Park, Washington Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Lake Forest Park, Washington rental market.
Lake Forest Park, Washington
Average Apartment Rent
$2,019
Y-o-Y Change in Average
Apartment Rent
1.3%
As of November 2024
Compared to a year ago, Lake Forest Park, Washington apartments have recorded a 1.3% rent increase.
Lake Forest Park, Washington Average apartment rent trend
Lake Forest Park, Washington Average Apartment Rent
Lake Forest Park, Washington Apartment rent ranges
At 54.77%, apartments priced $1,500 - $2,000 represent the bulk of Lake Forest Park, Washington rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 2.05%.
Lake Forest Park, Washington Housing tenure**
Renters take up 20% of Lake Forest Park, Washington real estate, occupying a total of 1,105 units, while homeowners live in 4,343 properties.
Median number of rooms of renter-occupied housing units**
3.8
Renter median household income**
$79,176
Average household size of renter-occupied housing units**
1.92
Rental vacancy rate**
5.3%
Lake Forest Park, Washington Renter-occupied housing units by no. of bedrooms**
There are 446 rentals in Lake Forest Park, Washington with 2 beds making up the highest share of the market, at 40%. Units with No bedrooms, on the other hand, hold the lowest percentage (2%), amounting to 25 units. Overall, the median number of rooms in Lake Forest Park, Washington homes for rent is 3.8.
Lake Forest Park, Washington Renter-occupied units by age of householder**
Most condos for rent in Lake Forest Park, Washington are occupied by residents in the 25 - 34 years age group (27%), followed by those in the 45 - 54 years age group (22%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 3%.
Lake Forest Park, Washington Renter-occupied housing units by family type**
Lake Forest Park, Washington Renter-occupied housing units by the presence of own children**
A total of 388 apartments for rent in Lake Forest Park, Washington, or 35% of all rentals are family households. Additionally, 9% of rental homes include children under the age of 18 – that’s 104 units. All in all, the median size of a renter-occupied household in Lake Forest Park, Washington is 1.92.
Lake Forest Park, Washington Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 43% of the rental market. In contrast, residents with less than a high school degree reside in 6% of the homes for rent in Lake Forest Park, Washington.
Lake Forest Park, Washington Renter-occupied units by year structure built**
The highest share of Lake Forest Park, Washington apartment rentals, namely 26% or 289 units, were Built 1980 - 1989, followed by those Built 1970 - 1979 (17%, 189 units), and the ones Built 1960 - 1969 (17%, 187 units).
Lake Forest Park, Washington Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most Lake Forest Park, Washington renters (42%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Lake Forest Park, Washington condos for rent is 2017.
Lake Forest Park, Washington Renter-occupied housing units by vehicles available**
When it comes to transportation options, 54% of Lake Forest Park, Washington renters have 1 vehicle available per household, 35% of them have 2 vehicles available, and 5% have No vehicle available.
Lake Forest Park, Washington Means of transportation to work of householders living in renter-occupied housing units**
Lake Forest Park, Washington Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Lake Forest Park, Washington apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
