Seattle / Bellevue Multifamily Market Report
By CREhunt Research · Data through Q1 2026 · Aggregated from , Cushman & Wakefield, Colliers,
Quarterly multifamily market indicators for Seattle / Bellevue, aggregated by CREhunt from , Cushman & Wakefield, Colliers, . As of Q1 2026, average asking rent was — with a 7.1% vacancy rate.
Projected current multifamily pricing — Seattle / Bellevue
Projected asking rent
$1,400/unit/mo
Estimated sale value
$144,065–$180,081/unit
Modeled estimate (income approach) shown as a range — not an appraisal. Projected asking rent × occupancy × net-operating-income margin band ÷ market cap rate, from Q4 2023 Cushman & Wakefield data (cap rate 5.5%, asking rent held flat). Assumes ~91% occupancy and a 52–65% net-operating-income margin.
| Quarter | Asking rent | Vacancy | Net absorption | Under constr. | Source |
|---|---|---|---|---|---|
| Q1 2026 | — | 7.1% | 2K SF | — | |
| Q1 2026 | — | 7.6% | 0K SF | — | Cushman & Wakefield |
| Q4 2023 | — | 9.8% | 659K SF | — | Colliers |
| Q4 2023 | $1400.00/SF | 9.3% | 2K SF | — | Cushman & Wakefield |
| Q4 2023 | $1708.00/SF | 7.8% | 0K SF | — |
Frequently asked questions
- What is the average asking rent for multifamily space in Seattle / Bellevue?
- CREhunt aggregates multifamily asking-rent data for Seattle / Bellevue from major brokerage market reports; see the quarterly table for the latest available figures.
- What is the multifamily vacancy rate in Seattle / Bellevue?
- The multifamily vacancy rate in Seattle / Bellevue was 7.1% as of Q1 2026.
- Where does CREhunt's Seattle / Bellevue market data come from?
- This report aggregates quarterly multifamily market data for Seattle / Bellevue from Cushman & Wakefield, Colliers.
Looking for active inventory? Browse multifamily listings, read how to buy multifamily property, see interactive market trends, or estimate a property's rent or price.