Seattle Rental Market Report for Houses March 2024
April 26, 2024
According to Zillow’s latest rental data for March 2024, annual rental price growth continues to lag slightly behind pre-pandemic levels. Rent prices have surged by 30% compared to pre-pandemic rates, although the pace of rental growth appears to have decelerated from the significant spikes observed in 2021.
In March, rents increased by 3.6% compared to the previous year, falling slightly below the average growth rate of 4.1% recorded in 2018 and 2019.
To assess the percentage changes in rental prices compared to March 2023 in cities surrounding Seattle, please refer to the maps provided below.
Top Single Family Rental Increases and Decreases in Washington State:
Cities with the highest annual rent increases include:
- Newcastle: +32.21%
- Edmonds: +12.44%
- Shoreline: +6.45%
- Sammamish: +5.00%
- Renton: +4.62%
- Lynnwood: +2.90%
- Everett: +1.82%
- Bellevue: +1.38 %
- Redmond: +1.17%
Cities experiencing the most significant annual rent price declines are:
- Mercer Island: -22.51%
- Kirkland: -4.32%
- Bothell: -2.86%
- Seattle: -2.78%
- Woodinville: -2.63%
- Issaquah: -1.01%
