Seattle Multifamily Market Report – July 2025

Market Overview

‍In the Seattle-Puget Sound metro, the multifamily sector is showing signs of improvement in Q3 2025. Asking rent averaged approximately $2,246 up 0.5 % year-over-year and stabilized occupancy held at 95.1 %. Although new units remain under construction, leasing momentum and wage growth are supporting the path to tighter fundamentals.

‍About Yardi Matrix

‍Yardi Matrix is a research and analytics firm specialising in multifamily housing markets. Their Seattle Q3 2025 market report combines metro-level data on rent trends, occupancy, supply pipelines and investment activity to help owners, developers and investors refine timing and strategic positioning. To read the full report, click here.