Redmond, 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 Redmond, Washington rental market.
Redmond, Washington
Average Apartment Rent
$2,559
Y-o-Y Change in Average
Apartment Rent
-2%
As of May 2026
Compared to a year ago, Redmond, Washington apartments have recorded a -2% rent decrease.
Redmond, Washington Average apartment rent trend
Redmond, Washington Average Apartment Rent
Redmond, Washington Apartment rent ranges
At 41.55%, apartments priced $2,000 - $2,500 represent the bulk of Redmond, Washington rentals, while condos priced $1,000 - $1,500 hold the lowest share of the market – 1.49%.
Redmond, Washington Housing tenure**
Renters take up 53% of Redmond, Washington real estate, occupying a total of 16,117 units, while homeowners live in 14,073 properties.
Median number of rooms of renter-occupied housing units**
3.4
Renter median household income**
$131,474
Average household size of renter-occupied housing units**
2.16
Rental vacancy rate**
3.8%
Redmond, Washington Renter-occupied housing units by no. of bedrooms**
There are 6,128 rentals in Redmond, 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 93 units. Overall, the median number of rooms in Redmond, Washington homes for rent is 3.4.
Redmond, Washington Renter-occupied units by age of householder**
Most condos for rent in Redmond, Washington are occupied by residents in the 25 - 34 years age group (39%), followed by those in the 35 - 44 years age group (25%). At the same time, people in the 55 - 59 years age group make up the lowest share of the local rental market – 3%.
Redmond, Washington Renter-occupied housing units by family type**
Redmond, Washington Renter-occupied housing units by the presence of own children**
A total of 8,065 apartments for rent in Redmond, Washington, or 50% of all rentals are family households. Additionally, 27% of rental homes include children under the age of 18 – that’s 4,414 units. All in all, the median size of a renter-occupied household in Redmond, Washington is 2.16.
Redmond, Washington Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 71% of the rental market. In contrast, residents with less than a high school degree reside in 2% of the homes for rent in Redmond, Washington.
Redmond, Washington Renter-occupied units by year structure built**
The highest share of Redmond, Washington apartment rentals, namely 25% or 3,984 units, were Built 2010 - 2019, followed by those Built 1980 - 1989 (21%, 3,352 units), and the ones Built 2000 - 2009 (17%, 2,772 units).
Redmond, Washington Renter-occupied units by year householder moved in**
Median year renter moved into unit 2019
Most Redmond, Washington renters (42%) moved in 2018 to 2020, while only 5% of them moved in 2000 to 2009. Overall, the median year renters have occupied their Redmond, Washington condos for rent is 2019.
Redmond, Washington Renter-occupied housing units by vehicles available**
When it comes to transportation options, 60% of Redmond, Washington renters have 1 vehicle available per household, 23% of them have 2 vehicles available, and 12% have No vehicle available.
Redmond, Washington Means of transportation to work of householders living in renter-occupied housing units**
Redmond, 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 Redmond, 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
