Seattle Rental Market Report for Houses March 2025

According to Zillow the Seattle-area rental market showed a mix of strong growth and notable declines in March 2025 compared to the same time last year. While many cities posted impressive year-over-year rent increases, a few markets experienced significant decreases, highlighting the region’s shifting rental dynamics.

Woodinville led the region with an exceptional +21.62% annual rent increase, reflecting growing demand in suburban areas. Kirkland followed closely with a +17.06% increase, signaling continued strong interest in Eastside markets. Issaquah saw a +12.64% rent rise, bolstered by its family-friendly reputation and expanding local amenities. Bellevue rents rose by +7.41%, maintaining its position as one of the area’s premier rental markets, while Seattle experienced a moderate increase of +4.92%, showing stable demand despite economic fluctuations. Other cities with smaller but positive rent growth included Mercer Island (+4.25%), Bothell (+3.68%), Renton (+2.94%), Redmond (+2.70%), and Sammamish (+0.02%). Both Lynnwood and Shoreline reported no change, with 0.00% growth over the year, indicating flat market conditions.

While most of the region experienced gains, a few markets recorded notable rent declines. Edmonds saw the largest drop, with rents falling -14.51% year-over-year, followed by Newcastle with a -12.12% decrease. Everett also posted a modest decline of -2.88%.

Highlights of the report

Cities with the highest annual rent increases: 

1. Woodinville: +21.62%
2. Kirkland: +17.06%
3. Issaquah: +12.64%
4. Bellevue: +7.41%
5. Seattle: +4.92%
6. Mercer Island: +4.25%
7. Bothell: +3.68%
8. Renton: +2.94%
9. Redmond: +2.70%
10. Sammamish: +0.02%
11. Lynnwood: 0.00%
12. Shoreline: 0.00%

Cities experiencing annual rent declines:

1. Edmonds: -14.51%
2. Newcastle: -12.12%
3. Everett: -2.88%

The Seattle metro rental market remains generally strong, particularly in suburban cities like Woodinville, Kirkland, and Issaquah, which are seeing double-digit rent increases. Meanwhile, certain areas such as Edmonds, Newcastle, and Everett have softened, potentially offering more opportunities for renters seeking more affordable options. Overall, demand remains steady across the core and Eastside markets, even as some outer areas adjust to shifting market forces.

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