Mercer Island, WA Rental Market Trends
Highlights
The average rent for an apartment in Mercer Island is $2,250, a 4% increase compared to the previous year, when the average rent was $2,168.
Average Rent in Mercer Island, WA
Last updated October 2019
| Average Rent | Y-o-Y Change | Average Apartment Size |
|---|---|---|
| $2,250 | 4% | 870 sq. ft. |
The average size for a Mercer Island, WA apartment is 870 square feet, but this number varies greatly depending on apartment type. Studio apartments are the smallest and most affordable, 1-bedroom apartments are closer to the average, while 2-bedroom apartments and 3-bedroom apartments offer a more generous square footage.
Mercer Island, WA Apartment Rent Ranges
- $1,001-$1,5003%
- $1,501-$2,00038%
- > $2,00060%
Mercer Island, WA Occupied Housing Units
- Renter-occupied Households28%
- Owner-occupied Households71%
2,838 or 28% of the households in Mercer Island, WA are renter-occupied while 7,029 or 71% are owner-occupied.
Mercer Island, WA Rent Trends
| Average Rent | Jul / 2016 | Nov / 2016 | Mar / 2017 | Jul / 2017 | Nov / 2017 | Mar / 2018 | Jul / 2018 | Nov / 2018 | Mar / 2019 | Oct / 2019 |
|---|---|---|---|---|---|---|---|---|---|---|
| Mercer Island, WA | $2,163 | $2,191 | $2,113 | $2,190 | $2,180 | $2,141 | $2,168 | $2,254 | $2,168 | $2,250 |
| National | $1,342 | $1,350 | $1,346 | $1,378 | $1,380 | $1,383 | $1,418 | $1,427 | $1,431 | $1,466 |
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How Does Mercer Island Compare to Nearby Cities
| Average Rent | Y-o-Y Change | |
|---|---|---|
| Seattle | $2,122 | 3% |
| Kent | $1,492 | 3% |
| Bellevue | $2,311 | 5% |
| Renton | $1,760 | 10% |
| Kirkland | $2,051 | 11% |
| Redmond | $2,186 | 13% |
| Federal Way | $1,449 | 7% |
| Issaquah | $2,281 | 9% |
| Issaquah City | $2,281 | 9% |
| Auburn | $1,445 | 7% |
| Mercer Island | $2,250 | 4% |
For more information about the Mercer Island rental trends, check out our monthly rent report
Cheapest Listings on RENTCafé
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Mercer Island apartment buildings 50 units or larger. Yardi Matrix covers ~90% of the U.S. metro area population, including ~17 million apartments across more than 130 U.S. markets.