Seattle, 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 Seattle, Washington rental market.
Seattle, Washington
Average Apartment Rent
$2,290
Y-o-Y Change in Average
Apartment Rent
0%
As of November 2024
Compared to a year ago, Seattle, Washington apartments have recorded a 0% rent increase.
Seattle, Washington Average apartment rent trend
Seattle, Washington Average Apartment Rent
Seattle, Washington Apartment rent ranges
At 57.13%, apartments priced Over $2,000 represent the bulk of Seattle, Washington rentals, while condos priced $500 - $700 hold the lowest share of the market – 0.18%.
Seattle, Washington Housing tenure**
Renters take up 56% of Seattle, Washington real estate, occupying a total of 191,769 units, while homeowners live in 153,477 properties.
Median number of rooms of renter-occupied housing units**
3
Renter median household income**
$82,054
Average household size of renter-occupied housing units**
1.78
Rental vacancy rate**
4.9%
Seattle, Washington Renter-occupied housing units by no. of bedrooms**
There are 74,478 rentals in Seattle, Washington with 1 bed making up the highest share of the market, at 39%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 2,591 units. Overall, the median number of rooms in Seattle, Washington homes for rent is 3.
Seattle, Washington Renter-occupied units by age of householder**
Most condos for rent in Seattle, Washington are occupied by residents in the 25 - 34 years age group (41%), followed by those in the 35 - 44 years age group (19%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 2%.
Seattle, Washington Renter-occupied housing units by family type**
Seattle, Washington Renter-occupied housing units by the presence of own children**
A total of 49,006 apartments for rent in Seattle, Washington, or 26% of all rentals are family households. Additionally, 10% of rental homes include children under the age of 18 – that’s 18,793 units. All in all, the median size of a renter-occupied household in Seattle, Washington is 1.78.
Seattle, Washington Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 62% of the rental market. In contrast, residents with less than a high school degree reside in 5% of the homes for rent in Seattle, Washington.
Seattle, Washington Renter-occupied units by year structure built**
The highest share of Seattle, Washington apartment rentals, namely 23% or 44,637 units, were Built 2010 - 2019, followed by those Built 1939 or earlier (16%, 30,697 units), and the ones Built 2000 - 2009 (13%, 24,025 units).
Seattle, Washington Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Seattle, Washington renters (41%) moved in 2018 to 2020, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Seattle, Washington condos for rent is 2018.
Seattle, Washington Renter-occupied housing units by vehicles available**
When it comes to transportation options, 49% of Seattle, Washington renters have 1 vehicle available per household, 31% of them have No vehicle available, and 16% have 2 vehicles available.
Seattle, Washington Means of transportation to work of householders living in renter-occupied housing units**
Seattle, Washington Geographical mobility in the past year for householders living in renter-occupied housing units**
Seattle, Washington Average apartment rent by zip codes
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 Seattle, 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
