Seattle rents are still expensive, no surprise there. But October’s numbers are showing something a little different. Rent prices haven’t been growing as much as last year, and according to some reports, they’ve actually gone down.
For landlords with a vacant property right now, this is something worth paying attention to.
According to Apartment List, Seattle’s median rent dropped 2.8% compared with last year. Zillow, on the other hand, shows average asking rent holding steady at around $2,200. Apartments.com is reporting a small annual increase.
And now, CoStar’s September report is showing something interesting too. Seattle metro rents actually dropped during September, even though they were still higher than a year earlier.
So which one should property owners believe?
Well, all these reports offer useful information, but they’re looking at different parts of the rental market. A one-bedroom apartment in downtown Seattle isn’t going to behave the same way as a four-bedroom house in North Seattle.
And that’s really what owners need to understand. Seattle can have high average rents while individual properties still struggle to attract renters.
In this Seattle rental market October 2026 update, we’ll look at current rental prices, available listings, apartment supply, neighborhood differences, and what these numbers might mean as we head toward the end of the year.
Key Takeaway
Seattle’s rental market is slowing down compared with last year, but rents aren’t falling everywhere.
According to Apartment List’s October 2026 Seattle Rent Report, the city’s median rent is $2,088, down 2.8% year over year.
Meanwhile, Zillow Rental Market Trends reports an average asking rent of $2,200, with no month-over-month change as of October 10, 2026.
According to Apartments.com’s October 2026 Seattle Rental Market Trends, the average one-bedroom apartment rent is $2,120, with the site’s reported annual rent change at 1.5%.
But the latest CoStar Group September 2026 Multifamily Rent Growth Report shows Seattle metro rents declined 0.5% during September, even though they remained 0.9% higher than a year earlier.
For landlords, the concern isn’t necessarily that rents are dropping. It’s that renters have thousands of advertised listings to compare, and an asking price that worked a year ago might not work the same way today.
Seattle Rental Market at a Glance: October 2026
Here’s what the latest rental reports are showing.
| Market Indicator | October 2026 Data | Source |
|---|---|---|
| Seattle median rent | $2,088 | Apartment List |
| Monthly median rent change | -0.2% | Apartment List |
| Annual median rent change | -2.8% | Apartment List |
| Average asking rent | $2,200 | Zillow |
| Zillow monthly rent change | $0 | Zillow |
| Apartments.com Seattle annual rent change | +1.5% | Apartments.com |
| Average studio apartment | $1,507 | Apartments.com |
| Average one-bedroom apartment | $2,120 | Apartments.com |
| Average two-bedroom apartment | $2,829 | Apartments.com |
| Average three-bedroom apartment | $3,815 | Apartments.com |
| Available rentals on Zillow | 4,646 | Zillow |
| Available apartments on Apartments.com | 7,435 | Apartments.com |
These numbers give us an idea of where the Seattle rental market stands. The sources use different rental samples and calculations, so their reported averages and medians naturally vary.
But looking at them together, one thing is becoming clear. The market isn’t seeing the same kind of rent growth that landlords experienced during some previous years.
Are Seattle Rents Going Up or Down in October 2026?
Let’s start with Apartment List.
According to its October report, Seattle’s median rent decreased 0.2% during September and is now 2.8% lower than a year ago.
That’s a bigger annual decline than Washington State overall, where rents dropped 0.9%, and the national decline of 0.4%.
It doesn’t sound like a dramatic change, but for owners who’ve been expecting rents to keep increasing every year, it’s worth noticing.
There’s another interesting number in the report.
Between January and September 2026, Seattle rents increased 2.3%. During the same nine months in 2025, rent growth was 7.1%.
That’s quite a difference.
It means Seattle still experienced some seasonal rent increases earlier this year, particularly during the busier leasing months. But the growth wasn’t nearly as strong as the year before.
If you want to see how Seattle’s rental market has changed since last month, you can also read our September 2026 Seattle Rental Market Analysis for a closer look at the previous month’s rental prices and market conditions.
If you want to see how Seattle’s rental market has changed since last month, you can also read our September 2026 Seattle Rental Market Analysis for a closer look at the previous month’s rental prices and market conditions.
Why Are Other Reports Showing Higher Rents?
According to Zillow’s October 2026 market data, the average asking rent in Seattle is $2,200 per month. That’s unchanged from September and about $10 below the previous year.
Apartments.com reports an average one-bedroom rent of $2,120 in its October Seattle market data, with its published annual rent change at 1.5%.
But there’s another report worth looking at.
According to CoStar Group’s September 2026 Multifamily Rent Growth Report, Seattle metro rents declined 0.5% during September. Despite that drop, rents were still 0.9% higher than a year earlier.
Nationally, apartment rents also fell slightly during September, down 0.08% from August. But on an annual basis, national rent growth was positive at 1.5%.
So even though some markets are still seeing annual rent increases, monthly rental prices have started softening as the fall leasing season gets underway.
The difference between Seattle’s monthly and annual numbers is worth noting. Rent can fall during one month while still being higher than it was a year ago.
And not every report is measuring the same thing.
Apartment List uses estimated median rents. Zillow looks at advertised rents across apartments, houses, and other property types. Apartments.com uses CoStar apartment market research.
For an owner renting out a single-family home, none of these averages should be taken as the exact price their house can achieve.
Imagine a three-bedroom home with a large backyard, two-car garage, and updated kitchen. It may rent for considerably more than a typical three-bedroom apartment.
But if several similar houses nearby are listed for less, the property can still struggle to get applications.
That’s why looking at local comparable properties is important, regardless of what the Seattle average says.
How Much Does It Cost to Rent in Seattle Right Now?
Apartment size makes a big difference in Seattle’s rental prices.
According to Apartments.com’s October 2026 Seattle Rental Market Trends, average apartment rents are:
| Apartment Type | Average Monthly Rent | Average Size |
|---|---|---|
| Studio | $1,507 | 403 sq. ft. |
| One Bedroom | $2,120 | 648 sq. ft. |
| Two Bedrooms | $2,829 | 943 sq. ft. |
| Three Bedrooms | $3,815 | 1,180 sq. ft. |
A studio apartment averages around $1,507, while a three-bedroom apartment is closer to $3,815.
That’s a pretty wide difference, and even within the same bedroom category, rents can vary quite a bit.
For example, a two-bedroom apartment in an older building may be priced lower than a newly renovated unit with parking, in-unit laundry, and modern appliances.
A single-family home may offer even more space, a private yard, and a garage, which can affect its rental value.
For landlords, this is where using the right comparable properties becomes important.
We wouldn’t recommend pricing a three-bedroom house simply because Apartments.com reports a three-bedroom average of $3,815. We’d want to know what other three-bedroom homes in that neighborhood are renting for, what condition they’re in, and how long they’ve been available.
How Different Rental Platforms Compare
There’s also a noticeable difference in the rent figures reported by each platform.
| Source | One-Bedroom Rent | Two-Bedroom Rent |
|---|---|---|
| Apartment List, median | $1,948 | $2,432 |
| Zillow, average | $1,800 | $2,645 |
| Apartments.com, average | $2,120 | $2,829 |
These are all October 2026 reported figures, but they come from different rental samples.
For property owners, we think it’s better to use these as general market references rather than exact pricing recommendations.
If you want to learn more about setting an appropriate price, our article on how to accurately price your rental in today’s market explains what owners should consider before listing a property.
Seattle Has Thousands of Available Rentals
One of the things that stands out in October is how many rental properties are being advertised.
According to Zillow, Seattle had 4,646 available rental listings as of October 10, 2026.
Apartments.com reported 7,435 available apartments during its October reporting period.
These are separate listing inventories, but they show the amount of competition renters may encounter while searching.
Zillow is also calling Seattle’s rental market temperature cool, based on changes in renter demand compared with the national market.
That doesn’t mean people have stopped looking for homes.
But renters have options, and when they find several properties that meet their needs, price becomes an even bigger part of the decision.
What This Means for a Vacant Rental Property
Let’s say you’re renting out a three-bedroom home for $3,500 per month.
The home looks good, it’s clean, and you believe the price is reasonable.
But several nearby properties with similar bedrooms and amenities are listed for $3,200 or $3,300.
A prospective renter might still like your home. The problem is whether the extra monthly cost feels worth it.
Maybe your house has features that justify the difference. Maybe it doesn’t.
If renters aren’t scheduling showings or submitting applications, that gives us something to look into.
The asking price could be too high. It could also be the listing photos, property condition, or how the home compares with others.
We’ve found that looking at actual showing activity is more useful than assuming a property will eventually lease because the neighborhood is desirable.
If you want to learn more about what can cause a rental listing to sit without applications, read our article on why your rental isn’t getting applications.
What's Happening With Seattle Apartment Supply?
Rental prices don’t move on their own. The number of homes available and the number of people looking to rent also play a role.
Earlier in 2026, multifamily market reports were already tracking changes in construction activity and apartment demand across the Puget Sound region.
According to CBRE’s Q2 2026 Puget Sound Multifamily Figures Report, apartment market conditions can be examined through occupancy, net absorption, and new construction deliveries.
Those figures help explain whether available apartment inventory is growing faster than the number of occupied units.
CoStar’s September report also points to the continuing influence of apartment supply on rental prices.
According to the report, national apartment rents declined slightly during September, with elevated housing supply continuing to limit pricing growth in some markets.
Nationally, 35 of the 50 major metropolitan markets tracked by CoStar recorded monthly rent declines during September.
Seattle was among those markets, with a 0.5% monthly decline.
That doesn’t necessarily mean Seattle’s rental market is weakening across every property type. But it does show that Seattle is not completely separate from the slower leasing conditions affecting other major cities.
Why New Apartment Construction Matters
When new apartment buildings are completed, they create additional rental options.
For example, if several new communities start leasing around the same time, renters suddenly have more places to choose from.
Some newer buildings may offer promotions or move-in incentives to fill available units.
That can create competition for existing rental properties, even if those homes aren’t directly comparable.
A privately owned townhouse may offer a garage and more privacy, while a new apartment building may include shared amenities and a move-in promotion.
Renters decide which option makes more sense for their needs and budget.
On the other hand, when fewer apartments are being completed and renter demand stays steady, existing properties may experience less pressure from new supply.
What About Occupancy and Rental Demand?
Occupancy is another number worth watching.
When a larger share of apartments is occupied, that may indicate stronger demand within the properties being measured.
Net absorption helps show whether occupied inventory increased or decreased during a particular period.
Positive absorption can be encouraging, but it doesn’t mean every apartment is leasing quickly or that rental prices will automatically increase.
And regional multifamily results don’t always describe what is happening with privately managed houses and townhomes in Seattle.
For those properties, we still need to look at what similar homes are doing in the immediate area.
Which Seattle Neighborhoods Have More Affordable Rent?
Not every Seattle neighborhood has the same rental prices.
According to Apartments.com’s October 2026 neighborhood data, some of the more affordable areas within its Seattle-area coverage include:
| Neighborhood | Average Monthly Rent |
|---|---|
| Southern Heights-Boulevard Park | $1,352 |
| Holly Park | $1,455 |
| Mt Baker | $1,530 |
| Lake City | $1,544 |
| Bitter Lake | $1,568 |
| Rainier Beach | $1,575 |
| Brighton | $1,580 |
At the other end, Denny Triangle has an average one-bedroom rent of approximately $3,103, according to Apartments.com.
That’s a significant difference.
Of course, apartments in different neighborhoods aren’t necessarily comparable. A home in Lake City may offer more living space for the money than a downtown apartment, but someone who wants to live close to the city center may have different priorities.
For property owners, it’s usually better to compare homes in the same neighborhood rather than using averages from across Seattle.
A house in Rainier Beach isn’t competing directly with every rental apartment in South Lake Union.
Even properties a few streets apart can have different rental values because of condition, size, parking, and other features.
Seattle vs. Nearby Rental Markets
Looking outside Seattle city limits, we also see different rental trends.
According to Apartment List, the Seattle metropolitan area’s median rent is $2,014, compared with Seattle city’s median of $2,088.
Some nearby cities are seeing annual increases, while others have experienced declines.
| City | Median 1BR Rent | Median 2BR Rent | Annual Change |
|---|---|---|---|
| Bellevue | $2,206 | $2,559 | +1.5% |
| Kirkland | $2,140 | $2,525 | +0.6% |
| Bothell | $2,020 | $2,393 | +0.4% |
| Everett | $1,500 | $1,734 | +2.6% |
| Burien | $1,509 | $1,905 | -1.7% |
Everett recorded a 2.6% annual increase, while Bellevue was up 1.5%. Burien, however, showed a 1.7% decline.
This is a good reminder that rental conditions vary even across cities that are relatively close to each other.
A landlord in Kirkland shouldn’t assume their rental property will follow the exact same trend as Seattle.
The same goes for Bellevue, Bothell, or Everett.
And within those cities, a single-family home may have very different demand compared with a one-bedroom apartment.
How Seattle's Housing Market Affects Rental Demand
Buying a home in Seattle is still a major financial decision.
Between the purchase price, mortgage payments, down payment, insurance, and maintenance, some households may find renting more manageable.
Others simply prefer the flexibility of renting, especially if they’re relocating or don’t know how long they plan to stay in the area.
This can help support demand for rental housing.
But there’s something landlords shouldn’t overlook.
Just because buying is expensive doesn’t mean renters can afford unlimited rent increases.
People still have budgets. And if a rental property is listed above what similar homes are offering, prospective tenants may continue looking elsewhere.
For owners, the cost of homeownership is part of the bigger housing picture, but current rental competition is usually more useful when deciding what to charge.
If you want to learn more about the costs involved in both options, see our guide on renting versus buying in Seattle.
Seattle Rental Market Forecast for the Rest of 2026
Looking at the latest October reports, we’re expecting a relatively steady rental market through the remaining months of 2026, although some neighborhoods may continue seeing rent declines or modest increases.
There isn’t enough evidence to expect another period of rapid rent growth across the entire city.
Apartment List reports a 2.8% annual decline in Seattle’s median rent, while Zillow shows average asking rents holding steady. Apartments.com’s October Seattle rent measure shows a 1.5% annual increase.
CoStar’s September report also gives us a clearer picture of what’s happening. Seattle metro rents declined 0.5% during September, even though they were still up 0.9% over the previous year.
Looking at these reports together, we’re expecting more modest rent changes toward the end of 2026 rather than another period of rapid growth.
Of course, that doesn’t mean every Seattle neighborhood will perform the same way.
A well-maintained single-family home with limited nearby competition may continue attracting qualified renters, while an apartment in a neighborhood with more available units could face additional pricing pressure.
The direction of rental prices will likely depend on the amount of available housing, seasonal demand, and what renters are willing to pay.
Could Seattle Rents Increase Again?
They could.
If new apartment deliveries slow down while renter demand remains stable, existing properties may face less competition over time.
Employment conditions and household demand for rental housing may also help support prices.
But we wouldn’t assume that rents are going to increase simply because apartment supply is changing.
Rental demand needs to remain strong enough to support the asking prices.
What Could Keep Rents From Increasing?
Fall and winter can be slower leasing seasons compared with spring and summer.
CoStar’s September 2026 report supports that seasonal pattern, showing national apartment rents declined slightly after several months of flat or positive growth.
Seattle metro also recorded a 0.5% monthly rent decline during September.
That doesn’t mean homes won’t rent during the remaining months of the year, but property owners may need to pay closer attention to how their listings are performing.
Additional apartment availability, move-in incentives, and competing properties can also influence what renters are willing to pay.
If similar homes start reducing rent while a property remains vacant, it may be time to review the asking price.
Our expectation for the rest of 2026 is modest overall movement, with noticeable differences depending on the neighborhood and property type.
What Should Seattle Landlords Do in This Market?
For property owners, we think the October rental numbers are useful, but the actual performance of an individual listing is even more important.
A citywide average won’t tell you why a particular home isn’t getting applications.
It also won’t tell you whether reducing the asking rent by $100 would help the home lease faster.
Those decisions need more local information.
1. Make Sure Your Asking Rent Matches the Market
Before listing a home, look at comparable rentals nearby.
Not just the number of bedrooms, but also the square footage, condition, amenities, and location.
A renovated house with central air conditioning and a garage may reasonably rent for more than a similar-sized home without those features.
But the asking price still needs to make sense compared with the available alternatives.
One thing worth remembering is that an advertised rent isn’t always the amount someone eventually pays.
A listing may remain available at a higher asking price for weeks before an owner makes an adjustment.
That’s why active listings should be reviewed alongside recent leasing information whenever it’s available.
2. Watch How Renters Respond to Your Listing
If a home is getting inquiries and showings shortly after being listed, that can be a good sign.
It doesn’t guarantee an application, but it tells us renters are at least interested enough to look.
If several people complete showings but nobody applies, we’d want to understand why.
Maybe the property doesn’t look the same in person as it does in the photos. Maybe renters have concerns about the layout or overall condition.
Or maybe they’re finding better options for the same rent.
If there are hardly any showing requests at all, pricing and listing visibility may need a closer look.
These details help us decide whether to maintain the asking rent or recommend a change.
3. Think About Vacancy Costs Before Holding Out for Higher Rent
This is something owners sometimes underestimate.
Let’s say your property is listed for $3,000 per month.
If it stays vacant for another month while you’re waiting for a higher-paying tenant, that’s $3,000 in potential gross rental income you haven’t collected.
Now compare that with lowering the monthly rent by $100.
Over a 12-month lease, the difference is $1,200.
That’s considerably less than one full month of vacancy at $3,000.
Of course, every situation is different. There’s maintenance, turnover costs, lease timing, and other expenses to consider.
We’re not saying owners should always reduce their asking rent.
A property that’s just been listed and getting plenty of attention may not need a price adjustment.
But if weeks are passing with very little activity, waiting longer can sometimes make the overall financial result worse.
If you want to learn more about this, our article on rental vacancy costs in Seattle explains how vacant periods affect rental income.
4. Consider Keeping a Good Resident
There’s also the renewal side of the market.
Finding a new tenant involves advertising, showings, preparing the property, and potentially dealing with a period of vacancy.
For an owner with a reliable resident, renewing the lease at a reasonable rate may sometimes make more financial sense than trying to achieve a higher rent with a new tenant.
That doesn’t mean rent should never increase.
But it’s worth comparing the additional income from an increase against the possible cost of turnover.
Owners also need to follow applicable Seattle and Washington rent increase regulations when making renewal decisions.
In a market where growth has slowed, protecting consistent rental income can be just as important as achieving a higher monthly rent.
How GPS Renting Approaches the Seattle Rental Market
At GPS Renting, we work with residential rental properties across Greater Seattle, including single-family homes, townhomes, and smaller multifamily properties.
When recommending an asking rent, we don’t just look at what Zillow says the Seattle average is.
We look at the actual property.
Where is it located? How does it compare with nearby rentals? What condition is it in? Are there features that make it stand out, or are there competing homes offering something similar for less?
Once the listing goes live, we continue looking at the results.
We review showing requests, completed tours, applications, days on market, and feedback from prospective renters.
Sometimes the recommendation is to keep the rent where it is.
If a home has just been listed and is receiving strong interest, there’s no reason to rush into lowering the price.
Other times, when the property has been available longer with little showing activity, we may recommend a change.
That could mean reviewing the photos, addressing property condition concerns, adjusting the price, or considering a move-in incentive.
There’s no single answer that works for every property.
And that’s part of why broad rental market reports should be used as a reference rather than a pricing decision on their own.
What matters is how the individual home is performing compared with the competition.
Frequently Asked Questions About the Seattle Rental Market
What is the average rent in Seattle in October 2026?
According to Zillow’s October 10, 2026 update, the average asking rent across all property types in Seattle is approximately $2,200 per month. Apartment List reports a citywide median rent of $2,088.
Are Seattle rents going down in 2026?
According to Apartment List, Seattle’s median rent declined 2.8% year over year in October 2026. CoStar’s September report also shows Seattle metro rents declined 0.5% during September, although they were still up 0.9% annually. Rent trends vary depending on the property type, geographic area, and measurement used.
How much does a one-bedroom apartment cost in Seattle?
According to Apartments.com, the average one-bedroom apartment in Seattle rents for approximately $2,120 per month. Apartment List reports a median of $1,948, while Zillow reports an average of $1,800.
How much does a two-bedroom apartment cost in Seattle?
Apartments.com reports an average two-bedroom rent of $2,829 per month. Zillow reports an average of $2,645, while Apartment List estimates the median at $2,432. Actual prices depend on the neighborhood, size, and condition of the property.
Is Seattle a renter’s market in October 2026?
Zillow currently classifies Seattle’s rental market as cool, meaning renter demand has been relatively softer compared with the national market. This may give prospective renters more choices, although some neighborhoods and property types can still attract strong interest.
How many available rentals are there in Seattle?
Zillow reported approximately 4,646 available rental listings as of October 10, 2026. Apartments.com reported 7,435 available apartments during its October reporting period. Each platform tracks its own rental inventory.
What did CoStar report about Seattle rents in September 2026?
According to CoStar’s September 30, 2026 multifamily rent report, Seattle metropolitan area rents declined 0.5% month over month but increased 0.9% year over year. National apartment rents declined 0.08% monthly while increasing 1.5% annually.
Will Seattle rents increase before the end of 2026?
It’s possible that some neighborhoods will experience modest increases, but the current data doesn’t suggest rapid rent growth across Seattle. Seasonal demand, available rental supply, and local competition will continue to influence pricing during the remaining months of the year.
Should Seattle landlords lower their asking rent?
Not necessarily. Owners should first review comparable rentals, showing requests, application activity, property condition, and days on market. Some properties may benefit from a price adjustment, while others may be better off maintaining their asking rent.
Final Thoughts
Seattle is still an expensive place to rent. That hasn’t really changed.
But the October 2026 data shows that being an expensive rental market doesn’t always mean landlords are getting higher rents.
Apartment List reports a 2.8% annual decline in Seattle’s median rent. Zillow shows average asking rents holding relatively steady, while Apartments.com’s October Seattle data reports a 1.5% annual increase in its benchmark rent measure.
Meanwhile, CoStar’s September report shows Seattle metro rents declined 0.5% during the month, even though annual rents remained 0.9% higher.
For landlords, these numbers show why it’s important to look beyond one rental report when deciding what to charge.
At the same time, renters have thousands of advertised properties to choose from.
For owners, that means asking rents need to make sense.
A home with good features and the right asking price can still attract qualified applicants. But a property that’s priced too high may take longer to lease, even if it’s in a desirable neighborhood.
And every additional week of vacancy has a cost.
As Seattle moves toward the end of 2026, we’d encourage landlords to focus less on what rent was last year and more on what comparable homes are doing right now.
Sometimes maintaining the rent is the right decision. Sometimes an adjustment makes more financial sense.
The important part is making that decision based on current market activity, not assumptions.
At GPS Renting, we help owners evaluate their rental properties using local comparisons, leasing activity, and practical property management experience.
If you’re wondering how much your home could realistically rent for in today’s market, request a free rental analysis. We’ll help you review your property’s rental pricing against the current Greater Seattle market.
Sources
Apartment List: Seattle Rent Report, October 2026. Seattle median rents, monthly and annual rent changes, and nearby city comparisons.
Zillow Rental Manager: Seattle Rental Market Trends. Updated October 10, 2026. Average asking rent, available rental listings, and rental market temperature.
Apartments.com: Seattle Rental Market Trends. October 2026 Seattle apartment rents by bedroom count, neighborhood pricing, and the reported annual change in its benchmark rent measure.
CBRE: Puget Sound Multifamily Figures Report, Q2 2026. Regional apartment supply, occupancy, and leasing market research.
CoStar Group: Apartments.com Releases Multifamily Rent Growth Report for September 2026. Published September 30, 2026. Seattle metro rent growth of -0.5% month over month and +0.9% year over year. National rent growth of -0.08% monthly and +1.5% annually.
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.