BalancedStableBalanced market

Seattle multifamily market, October 2026

Neither side has the edge in Seattle, and it is holding steady: asking rents are up 1.1% on a year, while jobs grew 0.7%.

Updated October 31, 2026 · from Zillow, BLS and the US Census Bureau

+1.1%

Asking rent, year over year

Zillow · September 2026

+0.7%

Jobs, year over year

BLS · September 2026, preliminary

5.1%YEARLY

Vacancy

Census · 2024 count

What is moving now

Asking rents are up 1.1% on a year to September 2026, which is the figure the condition is read from. Jobs are up 0.7% over the same year to September 2026, a first release the BLS revises the following month. Nothing is pulling hard either way in the latest figures (September 2026).

The backdrop

These are yearly Census counts, not this month's: 5.1% of rentals sat empty in 2024, permits for new apartments were down 18% in 2025, more people moved out than in in 2025, and the typical rent was $2,050 a month in 2024. They are the background the monthly figures move against, and they are the newest the Census has published.

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Common questions about Seattle

Answered from the data, updated October 31, 2026

Is the Seattle rental market tight or soft right now?

In Seattle right now, neither side has a clear edge, and it is stable.

Which way is the Seattle market heading?

Seattle is stable right now, as asking rents firm over the past year (Zillow ZORI, monthly).

Is Seattle a landlord's or a renter's market?

Seattle is a balanced market right now, with neither side holding a clear edge.

What is the vacancy rate in Seattle?

Vacancy in Seattle is 5.1% in the 2024 count, a yearly snapshot rather than a monthly reading (US Census Bureau).

How much have Seattle rents changed?

Asking rents in Seattle are up 1.1% over the past year (Zillow ZORI, monthly, latest Sep 2026).

Recent coverage

Daily, from the MetroSgnl news feed. Headlines only.

200-Unit Affordable Housing Project Planned in North SeattleConnect CRE

Lawsuit challenging Seattle's rental regulations can move forward after court reversalKOMO

200-unit affordable housing project planned in North SeattleThe Business Journals

Multifamily heavyweight adds Ballard apartments to Seattle-area holdingsCoStar

‘How come they always give us deadlines?’: KIRO hosts challenge high housing costs tied to WA permit delaysMyNorthwest.com

Rise Properties Trust Sells Northline Apartments in Seattle for $17.7MREBusinessOnline

See all Seattle news →

Data: Zillow ZORI, BLS, US Census Bureau, FRED, and the MetroSgnl news feed. Recomputed daily. Market information only, not investment advice.
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