Where rents are falling in the Seattle area
Rents, 1-year change, September 2026 · Zillow ZORI (Sep 2026), seasonally adjusted (Zillow) · updated 2026-11-15
Rents fell over the past year in 8 of the 116 ZIP codes in the Seattle area with figures; the median change was +2.3%.
The largest fall was 2.0% in ZIP code 98104 (Pioneer Square, Seattle, WA).
Rents rose 2.1% across the Seattle area and rose 2.9% nationally over the same 12 months.
Where rents are falling in the Seattle area: the 8
| Rank | ZIP code | Rents, 1-year change | Typical rent (monthly) | Home values, 1-year change |
|---|---|---|---|---|
| 1 | 98104Pioneer Square, Seattle, WA | −2.0% | $2,041 | −4.0% |
| 2 | 98121Belltown, Seattle, WA | −1.7% | $2,757 | −7.1% |
| 3 | 98045North Bend, WA | −1.0% | $2,958 | −0.7% |
| 4 | 98354Milton, WA | −0.8% | $2,152 | +0.2% |
| 5 | 98465Tacoma, WA | −0.8% | $2,067 | +0.8% |
| 6 | 98109East Queen Anne, Seattle, WA | −0.6% | $2,564 | −2.5% |
| 7 | 98375Puyallup, WA | −0.3% | $2,931 | +0.4% |
| 8 | 98371Puyallup, WA | −0.1% | $1,954 | +0.1% |
- Under +1.0%
- +1.0% to +2.0%
- +2.0% to +3.0%
- +3.0% to +4.0%
- +4.0% or more
- Not ranked
More rankings for the Seattle area
- Cheapest ZIP codes
- Most expensive ZIP codes
- Where home prices are falling
- Where home prices are rising fastest
- Cheapest rent by ZIP code
- Highest rent by ZIP code
- Where rents are rising fastest
- Richest ZIP codes (household income)
- Cheapest suburbs
- Most expensive suburbs
- Richest suburbs (household income)
- Largest suburbs (population)
- Seattle metro area: all figures
Where rents are falling in other metro areas
- New York, NY
- Los Angeles, CA
- Chicago, IL
- Dallas, TX
- Houston, TX
- Atlanta, GA
- Washington, DC
- Miami, FL
- Philadelphia, PA
- Phoenix, AZ
- Boston, MA
- Minneapolis, MN
- Tampa, FL
- San Diego, CA
- Denver, CO
- Orlando, FL
- Charlotte, NC
- Baltimore, MD
- San Antonio, TX
- Austin, TX
- Portland, OR
- Sacramento, CA
- Las Vegas, NV
- Cincinnati, OH
- Nashville, TN
- Louisville, KY
- Memphis, TN
- Salt Lake City, UT
Source and method
Rents, 1-year change: Zillow ZORI (Sep 2026), seasonally adjusted (Zillow); figures for September 2026. ZIP codes with at least 1,000 residents and a published figure are ranked (116 of them in the Seattle area). This page lists only the 8 where the figure fell. The metro area is the Seattle-Tacoma-Bellevue, WA metropolitan statistical area. Place names for ZIP codes are the neighborhood or city the ZIP code mostly covers. Compiled by Home Economics.
Zillow's "typical" home value and rent are index values for the middle of the market (the Zillow Home Value Index and Observed Rent Index), not median sale prices or asking rents. One-year changes are over the 12 months to September 2026. Income and population come from the Census Bureau's American Community Survey and carry sampling error, most of all in small places.