Bellevue rents are starting to cool, but not everywhere.
According to Zillow’s October 2026 report, the average asking rent in Bellevue is $2,990 per month, down $81 from September and $110 compared with last year.
Meanwhile, Downtown Bellevue is still expensive. One-bedroom apartments average $2,927, about 19% higher than the citywide one-bedroom average.
So, what does this mean for Bellevue landlords heading into the final months of 2026?
Key Takeaway
The Bellevue rental market in October 2026 remains relatively strong, but rents are no longer rising across every property type. Apartment rents show modest annual growth, while broader asking rents have declined. For landlords, pricing competitively and avoiding unnecessary vacancy matters more than chasing a higher monthly rent.
Are Bellevue Rents Going Up or Down?
The latest reports show mixed results.
| Source | October 2026 rent | Trend |
|---|---|---|
| Zillow | $2,990 average | Down $81 monthly |
| Apartment List | $2,440 median | Up 1.4% annually |
| Apartments.com | $2,470, one-bedroom | Up 1.8% annually |
| Trulia | $4,389, single-family houses | Current average |
These figures measure different rental categories and use different methodologies.
According to Apartment List, Bellevue rents rose 6.2% from January through September 2026, compared with 2.9% during the same period last year.
However, September recorded a 0.9% monthly decline.
Bellevue saw stronger rent growth earlier in 2026. But September’s decline suggests that pricing is starting to cool as we head into fall.
If you want to learn more about the city’s broader rental trends, see our Bellevue Rental Market 2026 guide.
Downtown Bellevue Remains Expensive
Not every neighborhood is experiencing the same rental conditions.
According to Apartments.com’s Downtown Bellevue’s, reported one-bedroom rent benchmark increased 2.8% over the past year.
| Apartment type | Downtown Bellevue | Bellevue average |
|---|---|---|
| Studio | $2,181 | $2,072 |
| 1 bedroom | $2,927 | $2,470 |
| 2 bedrooms | $4,194 | $3,072 |
| 3 bedrooms | $8,525 | $4,195 |
Downtown apartments cost more on average, although differences in unit sizes, amenities, and the types of properties included may explain part of the gap.
Elsewhere in Bellevue, reported apartment rents are lower. According to Apartments.com, Crossroads averages $2,209, while Eastgate averages $1,657.
But remember, these are apartment averages. They shouldn’t be used to price an individual single-family home.
What Should Bellevue Landlords Do Right Now?
Here’s where things get interesting.
A landlord might want $3,000 per month, even though similar homes are renting for $2,900.
That extra $100 sounds good. But if the property sits vacant for another month, the owner could lose $3,000 in potential rent.
That’s more than two years’ worth of the additional $100 per month.
Pricing isn’t just about getting the highest rent. It’s about how much income the property actually produces.
Before listing, owners should compare similar rentals, review their property’s condition, and watch showing activity. Few inquiries or repeated showings without applications may be signs that something needs adjusting.
If you want to learn more about how vacancies affect income, read How Much Does Rental Vacancy Cost?.
What to Expect for the Rest of 2026
Bellevue’s rental market isn’t collapsing. Apartment List still reports positive annual rent growth, and Downtown continues to command premium prices.
However, Zillow’s recent price declines suggest some landlords may face greater pricing pressure heading into November and December.
Our expectation is a more cautious rental market, with performance varying by neighborhood and property type. That is an outlook based on October’s figures, not a guaranteed forecast.
For Bellevue landlords, the advice is simple. Price according to today’s competition, keep the property in good condition, and don’t let an unrealistic asking rent create an expensive vacancy.
How Much Could Your Bellevue Property Rent For?
At GPS Renting, we help Bellevue property owners evaluate rental prices, market competition, and leasing strategies for single-family homes, townhomes, and condominiums.
Visit GPS Renting or request a Free Rental Analysis to find out what your property could rent for in today’s market.
Sources
Research compiled October 14, 2026, by GPS Renting. Statistics reflect published third-party market reports and are not proprietary GPS Renting lease transaction data. Asking rents, median rents, and listing samples differ between sources. Zillow’s historical chart and summary also show different annual changes; the article uses its summary figure.
Written by Nick He, Founder of GPS Renting
Nick He founded GPS Renting with the mission of providing professional, honest, and kind property management throughout the Greater Seattle area. Through years of working directly with Seattle landlords and residents, Nick has developed extensive experience handling lease compliance issues, tenant communication challenges, property operations, and Washington landlord-tenant regulations. His landlord and tenant guides are designed to help rental property owners navigate complex situations with practical strategies, clear documentation practices, and real-world operational insight tailored to Seattle’s evolving rental market.