Seattle Rental Market Update – July 2026

by | Seattle Rental Market Update

RMU

Summer is typically one of the busiest times of year for rentals, and that’s proving true across the Seattle market. As we move through July, renters have more choices than they did a year ago, and we’re seeing subtle shifts in pricing, demand, and tenant behavior. At RE/MAX Integrity Property Management, we’re committed to keeping you informed with timely market insights so you can make confident decisions about your investment. Here’s what we’re seeing this month and what it means for your property.

Watch the video below, or scroll down to read a transcript of the video.

Video Transcript – July 2026 Seattle Rental Market Update:

[Aaron]: Time for the property management update! And this month I want to lead with something that doesn’t get enough attention: new apartment deliveries in Seattle are down 59% year over year. That’s not a typo. The construction wave that flooded the market with new units over the past few years is receding – and that has real implications for single-family rental owners. Here’s where things stand. The overall citywide median rent in Seattle is $2,077 – but that’s apartments pulling the number down. If you own a single-family home, you’re in a different market entirely. Three-bedroom single-family homes in Seattle are leasing right around $3,950 a month. Well-priced properties with the right amenities – parking, in-unit laundry, pet-friendly terms – are still attracting strong tenant interest. The honest picture for July: the market is balanced but slightly more favorable to renters than past tight summer markets. Leasing timelines have stretched to about 35 to 45 days on average. An extra week or two of vacancy adds up fast over a year. What that means for owners: pricing accuracy is everything right now. Washington’s 9.683% rent cap limits how fast you can correct an underpriced lease – so getting it right at the start of a tenancy has never mattered more. The owners we manage for aren’t guessing at this. They have real data, a real strategy, and someone picking up the phone when something goes sideways.

[Diane]: And if you’ve been self-managing and you’re tired of being the one who picks up that phone – that’s exactly what RE/MAX Integrity Property Management is here for. Reach out anytime and we’ll show you what professional management actually looks like.

[Aaron]: Agents – if you’ve got clients who own rentals and need a management partner they can trust, we’d love to be that partner. Your clients stay yours. When they’re ready to sell, they come back to you. And you get $500 the moment they sign a management agreement. Simple relationship, and we take it seriously.