Seattle Rental Market Report for Houses January 2025

According to Zillow, Seattle-area housing rental market has experienced notable shifts over the past year, with certain cities seeing substantial rent increases while others have faced declines.

Several cities in the greater Seattle area have experienced significant growth in rental prices for houses. Leading the list is Mercer Island, with a 33.37% increase, followed by Redmond (+16.99%) and Issaquah (+12.50%).

These increases suggest a rising demand for single-family homes, likely driven by factors such as job market expansion, limited inventory, and an increasing preference for more space among renters.

While many cities saw rising house rental prices, some areas experienced a decrease in rents. Bellevue saw the most significant drop, with a -4.76% decline, followed by Woodinville (-4.29%) and Bothell (-2.59%).

These declines may be attributed to increased housing availability, shifting renter demand, or local economic factors affecting rental prices.

Highlights of the report

Cities with the highest annual rent increases:

1. Mercer Island: +33.37%
2. Redmond: +16.99%
3. Issaquah: +12.50%
4. Seattle: +10.33%
5. Sammamish: +8.86%
6. Kirkland: +8.22%
7. Newcastle: +5.00%
8. Everett: +3.45%
9. Edmonds: +2.86%
10. Renton: +2.06%
11. Lynnwood: +1.85%
12. Shoreline: +0.06%

Cities experiencing the most significant annual rent declines:

1. Bellevue: -4.76%
2. Woodinville: -4.29%
3. Bothell: -2.59%

The varied trends in house rental prices across different cities highlight the dynamic nature of Seattle’s housing market. While cities like Mercer Island, Redmond, and Issaquah continue to see strong growth, areas like Bellevue and Woodinville are experiencing slight rent relief. These fluctuations emphasize the importance of closely monitoring local market conditions for renters and property investors alike.

Please reach out to us if you have any questions about the rental market or need assistance renting your property.