Seattle Rental Market Report for Apartments & Condos

According to Zillow, the Seattle-area rental market showed mixed results in March 2025, with Lynnwood leading all cities with a 12.65% rent increase, followed by strong growth in Woodinville (+6.34%), Shoreline (+5.47%), and Bellevue (+5.20%). Urban hubs like Seattle (+3.80%) and Kirkland (+3.16%) also saw steady gains. Meanwhile, cities like Renton (-5.95%), Everett (-5.44%), and Issaquah (-2.91%) experienced rent declines, signaling shifting demand and increased supply. These trends reflect a dynamic rental landscape across apartments and condos in the Greater Seattle area.

Highlights of the report

Cities with the highest annual rent increases:

1. Lynnwood: +12.65%
2. Woodinville: +6.34%
3. Shoreline: +5.47%
4. Bellevue: +5.20%
5. Seattle: +3.80%
6. Kirkland: +3.16%
7. Sammamish: +2.28%

Cities experiencing annual rent declines:

1. Renton: -5.95%
2. Everett: -5.44%
3. Issaquah: -2.91%
4. Newcastle: -2.04%
5. Redmond: -1.70%
6. Mercer Island: -1.65%
7. Bothell: -0.83%
8. Edmonds: -0.05%

March 2025 marked a period of divergence across the region, with suburban areas like Lynnwood and Woodinville emerging as growth leaders, while formerly high-demand cities like Renton and Everett experienced pullbacks. These trends highlight the importance of localized analysis when evaluating rental performance and investment strategies in the Seattle metro area.

Have questions about the local rental market or need help renting out your property? Contact our team today for expert guidance and personalized rental management services.