Seattle Area Rental Market Update: Key Trends for Property Owners in 2025

The Seattle metro area rental landscape continues to evolve in 2025, presenting both challenges and opportunities for property investors. As your trusted property management partner in King and Snohomish Counties, inTrust Property Management has analyzed the latest market data to help you navigate these changes and optimize your investment strategy.

Everett’s Rental Market Correction

After years of steady growth, Everett is experiencing a notable market correction. The average rent now stands at approximately $1,700, reflecting a $150 decrease year-over-year. This 4.71% annual decline signals a shift in the local rental dynamics that savvy investors should monitor closely.

However, this market adjustment varies significantly by neighborhood:

• Premium Neighborhoods: Areas like Silver Lake and Bayside continue to command higher rates, averaging over $2,000 per month
• Moderate-Priced Areas: Neighborhoods such as View Ridge Madison and Delta offer more accessible entry points around $1,600

This neighborhood-specific data highlights the importance of hyperlocal market knowledge when managing rental properties in Everett.

Broader Snohomish County Trends

The correction extends beyond Everett to the wider Snohomish County area, where the average rent currently sits at $2,195—a substantial $380 decrease from 2024 figures.

Despite this adjustment, Snohomish County maintains its position as Washington’s premium rental market. According to HUD data, the 2025 Fair Market Rent for a 2-bedroom unit in the county is $2,671, the highest among all 39 counties in the state.

Seattle Metro’s Mixed Growth Picture

While parts of the market are correcting, the overall Seattle metro area continues to show resilience:

• Seattle’s median rent reached $2,026 in March 2025
• This represents a modest 0.9% monthly increase and 1.9% year-over-year growth
• Seattle remains among the top 20 most expensive U.S. cities for renters

The growth pattern across the region reveals interesting submarkets:

• Growth Hotspots: Lynnwood and Edmonds have seen remarkable rent increases of 14.99% and 12.59%, respectively
• Cooling Markets: Areas like Sammamish and Kirkland have experienced rent declines

The multifamily sector shows particular stability, with Seattle’s occupancy rate holding steady at 94.4% since Q4 2024, with projections suggesting continued stability throughout 2025.

New Rent Control Legislation: What Property Owners Need to Know

In a significant development for Washington property owners, the state enacted a rent-control law in May 2025. This legislation caps annual rent increases at either:

• 7% plus inflation, OR
• 10%, whichever is lower

This new regulation aims to provide stability for renters while addressing housing affordability concerns. For property owners, this creates a new regulatory framework that requires careful planning for future rent adjustments and investment strategies.

What This Means for Your Rental Property Portfolio

These market shifts create both challenges and opportunities:

1. Neighborhood-Specific Strategies: With such varied performance across neighborhoods, a one-size-fits-all approach no longer works. Properties may require tailored management strategies based on their specific location.
2. Regulatory Adaptation: The new rent control measures mean investors must carefully time and plan rent increases within the new legal framework.
3. Investment Opportunities: Market corrections in certain areas may present buying opportunities for investors looking to expand their portfolios at more favorable price points.
4. Retention Focus: With rents stabilizing or declining in some areas, tenant retention becomes even more valuable to avoid costly vacancies.

How inTrust Property Management Can Help

Navigating these complex market dynamics requires expert guidance and local knowledge. Our team at inTrust Property Management specializes in helping property owners:

• Implement neighborhood-specific pricing strategies
• Maintain compliance with the new rent control legislation
• Identify potential portfolio expansion opportunities
• Develop effective tenant retention programs
• Optimize property performance even in changing market conditions

Next Steps for Forward-Thinking Property Owners

Want to ensure your rental property portfolio thrives despite these market shifts? Contact inTrust Property Management today for a free rental analysis. Our team of experienced property management professionals will help you develop a customized strategy that accounts for these market trends and positions your investments for long-term success.

Don’t leave your property investments to chance in this changing market. Contact us today to schedule your free consultation.

Sources: Zillow, RentCafe, USHousingData, Fox 13 Seattle, AP News,