Mercer Island, 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 Mercer Island, Washington rental market.
Mercer Island, Washington
Average Apartment Rent
$2,670
Y-o-Y Change in Average
Apartment Rent
0.4%
As of March 2026
Compared to a year ago, Mercer Island, Washington apartments have recorded a 0.4% rent increase.
Mercer Island, Washington Average apartment rent trend
Mercer Island, Washington Average Apartment Rent
Mercer Island, Washington Apartment rent ranges
At 32.63%, apartments priced $2,000 - $2,500 represent the bulk of Mercer Island, Washington rentals, while condos priced $1,500 - $2,000 hold the lowest share of the market – 11.86%.
Mercer Island, Washington Housing tenure**
Renters take up 32% of Mercer Island, Washington real estate, occupying a total of 3,133 units, while homeowners live in 6,649 properties.
Median number of rooms of renter-occupied housing units**
3.6
Renter median household income**
$93,658
Average household size of renter-occupied housing units**
1.97
Rental vacancy rate**
5.9%
Mercer Island, Washington Renter-occupied housing units by no. of bedrooms**
There are 1,182 rentals in Mercer Island, Washington with 2 beds making up the highest share of the market, at 38%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 34 units. Overall, the median number of rooms in Mercer Island, Washington homes for rent is 3.6.
Mercer Island, Washington Renter-occupied units by age of householder**
Most condos for rent in Mercer Island, Washington are occupied by residents in the 25 - 34 years age group (25%), followed by those in the 85 years and over age group (15%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 4%.
Mercer Island, Washington Renter-occupied housing units by family type**
Mercer Island, Washington Renter-occupied housing units by the presence of own children**
A total of 1,438 apartments for rent in Mercer Island, Washington, or 46% of all rentals are family households. Additionally, 21% of rental homes include children under the age of 18 – that’s 656 units. All in all, the median size of a renter-occupied household in Mercer Island, Washington is 1.97.
Mercer Island, Washington Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 73% of the rental market. In contrast, residents with less than a high school degree reside in 2% of the homes for rent in Mercer Island, Washington.
Mercer Island, Washington Renter-occupied units by year structure built**
The highest share of Mercer Island, Washington apartment rentals, namely 17% or 525 units, were Built 2000 - 2009, followed by those Built 2010 - 2019 (14%, 423 units), and the ones Built 1960 - 1969 (13%, 418 units).
Mercer Island, Washington Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Mercer Island, Washington renters (42%) moved in 2018 to 2020, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Mercer Island, Washington condos for rent is 2018.
Mercer Island, Washington Renter-occupied housing units by vehicles available**
When it comes to transportation options, 51% of Mercer Island, Washington renters have 1 vehicle available per household, 27% of them have 2 vehicles available, and 18% have No vehicle available.
Mercer Island, Washington Means of transportation to work of householders living in renter-occupied housing units**
Mercer Island, 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 Mercer Island, 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
