Seattle Market Report for Apartments and Condos June 2024

According to recent Zillow data, the rental market for apartments and condos is exhibiting a mix of significant rent increases in some cities while others face notable declines. The data reveals diverse trends, reflecting the varying dynamics of demand and supply across different locations. For property owners and potential renters, understanding these dynamics is crucial for making informed decisions in the current rental landscape.

Highlights of the report 

Cities with the highest annual rent increases:

1. Lynnwood: +8.59%
2. Mercer Island: +7.04%
3. Redmond: +3.91%
4. Bellevue: +2.83%
5. Sammamish: +1.11%
6. Newcastle: +0.80%
7. Renton: +0.32%

Cities experiencing the most significant annual rent declines:

1. Woodinville: -12.13%
2. Issaquah: -7.68%
3. Everett: -7.41%
4. Shoreline: -7.22%
5. Seattle: -4.77%
6. Bothell: -3.42%
7. Edmonds: -2.35%
8. Kirkland: -1.64%

Please feel free to contact us if you have any inquiries about the rental market or need assistance with renting out your property.