MARKET SNAPSHOT Seattle q3 2025

Market Overview

‍The multifamily market in the Seattle–Puget Sound metro is holding at high occupancy in Q3 2025 as new supply eases. With occupancy around 94.6 percent and average rent near $2,064 per month, strong demand is intersecting a significantly smaller pipeline of units under construction. These conditions suggest the market is entering a more balanced phase heading into 2026.

‍About MMG

‍MMG Real Estate Advisors is a U.S.-based multifamily research and advisory firm that provides metro-level market intelligence. Their Seattle Q3 2025 market report combines detailed data on rent trends, occupancy, absorption, completions and development pipelines to help owners, developers and investors assess timing, risk and strategic positioning. To read the full report, click here.