Seattle Rental Market Report for Houses February 2025

According to Zillow, the February 2025 rental market report reveals notable rent increases across several cities in the region, with Mercer Island leading at a staggering 15.83% annual growth. Issaquah follows closely with a 15.00% rise, reflecting strong demand in suburban areas with desirable amenities and proximity to employment hubs. Redmond, home to a booming tech sector, saw a 10.53% increase, reinforcing its status as a high-demand rental market. Seattle’s rental prices also surged by 9.37%, indicating renewed interest in urban living. Other cities experiencing significant rent hikes include Renton (6.25%), Bothell (5.15%), and Sammamish (4.88%), showcasing continued demand in these suburban markets.

Conversely, a few cities saw declines in rental prices. Edmonds experienced the sharpest drop at -7.98%, suggesting potential softening in demand or increased rental supply. Woodinville (-1.68%) and Lynnwood (-1.56%) also posted moderate declines, which could indicate shifting tenant preferences or market adjustments after previous years of strong growth.

Highlights of the report

Cities with the highest annual rent increases:

1. Mercer Island: +15.83%
2. Issaquah: +15.00%
3. Redmond: +10.53%
4. Seattle: +9.37%
5. Renton: +6.25%
6. Bothell: +5.15%
7. Sammamish: +4.88%
8. Newcastle: +3.90%
9. Shoreline: +3.45%
10. Kirkland: +2.77%
11. Bellevue: +1.19%
12. Everett: +0.10%

Cities experiencing the most significant annual rent declines:

1. Edmonds: -7.98%
2. Woodinville: -1.68%
3. Lynnwood: -1.56%

Overall, the February 2025 rental market continues to be dynamic, with strong rent growth in key suburban and urban areas, while a few markets show signs of stabilization or correction. The demand for rentals remains robust in high-growth cities, likely driven by economic expansion, job market trends, and shifting housing preferences.

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