The Seattle and Puget Sound apartment market has seen continued stability, with investor confidence rebuilding and fundamentals strengthening across the region, according to a recent report by Kidder Mathews.
“We’re entering a phase of steady, sustainable growth,” said Simon, Executive Vice President. “Investors are re-engaging, drawn by clearer pricing and improved capital conditions. Leasing performance remains healthy, vacancy is trending down, and the data shows a market that’s regaining momentum heading into 2026.”
Investment activity in the region accelerated this part quarter, seeing $1.8 billion in sales, with transaction volume up more than 30% year-over-year as investors re-enter the market. Cap rates held steady, averaging in the mid-5% range, reflecting balanced buyer-seller expectations. Vacancy in the area tightened, down 30 basis points year-over-year to about 7.0%, signaling steady absorption of new supply.
Regional rent averages reached $2,061, supported by job growth and continued in-migration, and leasing remains strong, with consistent activity across most submarkets underscores stable renter demand heading into 2026.
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