Average Rent in Lake Union, Seattle, WA

Current Versus Historical Lake Union, Seattle, WA Rents

Lake Union rentals average $1,949 for a studio rental to $5,000 for a 4-bedroom rental. The median price of all currently available listings is $2,207, or roughly $3 per square feet.

For the apartment units and housing in May 2024, median rents have risen substantially over the last year. Studio rentals prices have increased by $690 (50.79%) year-over-year from $1,358 to $2,047. 1-bedroom rentals prices have increased by $317 (17.32%) year-over-year from $1,830 to $2,147. 2-bedroom rentals prices have decreased by $72 (-2.87%) year-over-year from $2,497 to $2,425. 3-bedroom rentals prices have increased by $366 (9.67%) year-over-year from $3,782 to $4,148. 4-bedroom rentals prices have increased by $1,603 (34.52%) year-over-year from $4,644 to $6,248. Note that this figure includes all active and rented listings throughout the month.

Month-to-month, seasonality might have a bigger impact than overall trend price changes. Studio rents have gone up by 23.64% this month. 1-bedroom rents have gone up by 6.69% this month. 2-bedroom rents have gone down by 0.68% this month. 3-bedroom rents have gone down by 0.24% this month. 4-bedroom rents have gone up by 6.25% this month.

Beds	Price / Sqft	May 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.71	$2,047	$1,358 (50.79%)	$1,495 (36.92%)
1 BR	$3.56	$2,147	$1,830 (17.32%)	$1,628 (31.92%)
2 BR	$3.18	$2,425	$2,497 (-2.87%)	$2,340 (3.63%)
3 BR	N/A	$4,148	$3,782 (9.67%)	$3,256 (27.39%)
4+ BR	$2.53	$6,248	$4,644 (34.52%)	$4,000 (56.19%)

Historical Rents in Lake Union, Seattle, WA

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near Lake Union

There are a total of 3 cities nearby Lake Union. The average rent in Lake Union is currently $2,626 per month. Only one city nearby has an average rent lower than that. Our records show that Seattle, WA, with an average rent of $2,035, is the most affordable city nearby. In contrast, the most expensive city near Lake Union, Seattle, WA is Bellevue, WA. Monthly rents here are on average $3,200 per month.

Let's compare Lake Union, Seattle, WA's rent against other top cities nearby by bedroom size. Typically, rent for studios in Lake Union, Seattle, WA is 4.26% more affordable than other cities nearby. One bedrooms are about 15.11% more affordable. Two bedrooms in Lake Union, Seattle, WA are about 1.94% more expensive. Finally, rent for three bedrooms are about 6.98% more expensive. Want more information? Check out the top 3 cities near Lake Union, Seattle, WA in the following chart.

City	Studio	1 Bed	2 Bed	All
Seattle, WA	$1,503	$1,957	$2,725	$2,035
Redmond, WA	$2,032	$2,419	$3,040	$2,626
Bellevue, WA	$2,180	$2,930	$3,610	$3,200

Top Neighborhoods Near Lake Union

There are a total of 4 neighborhoods in or near Lake Union. Some of these neighborhoods include Broadway, Belltown, and Downtown Redmond. We've included all of these top 4 neighborhoods in or near Lake Union, Seattle, WA in the following chart.

The average rent for these 4 neighborhoods in or near Lake Union, Seattle, WA is currently around $2,308 per month. A total of 2 neighborhoods have a lower average rent. Meaning, only two neighborhoods have a higher average rent than $2,308. Interestingly, the neighborhoods' average rent is higher than Lake Union's average rent, which is only $2,207. Out of all the neighborhoods in or near Lake Union, Broadway has the most affordable average rent at $1,725 per month. Whereas, at $3,191 average rent per month, Downtown Bellevue is the most expensive neighborhood in or near Lake Union. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Broadway, Seattle, WA	$1,495	$1,851	$2,595	$1,725
Belltown, Seattle, WA	$1,491	$2,275	$3,227	$2,025
Downtown Redmond, Redmond, WA	$2,032	$2,427	$3,041	$2,592
Downtown Bellevue, Bellevue, WA	$2,180	$2,938	$4,125	$3,191

Top Counties Near Lake Union

There are a total of 4 counties located by Lake Union, Seattle, WA.

We've listed the top 0 counties in the chart below.

County	Studio	1 Bed	2 Bed	All

Top Zipcodes Near Lake Union

There are a total of 6 zipcodes in or near Lake Union, Seattle, WA. The average rent for all of these zipcodes is $2,359. A total of 3 zipcodes have a average rent that is lower than that. The zipcode with the most affordable average rent for apartment listings is 98122, Seattle, WA at $1,750 per month. In comparison, the zipcode with the most expensive average rent of $3,430 per month is 98004, Bellevue, WA.

Studios in these zipcodes have an average rent of $1,925. That's at least $4 per sqft. Do you need more space than that? Average rent for one bedroom rentals for the zipcodes in or near Lake Union, Seattle, WA is $2,383 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $3,161 per month. Which comes out to $3 per sqft. The following chart includes the top 6 zipcodes in Lake Union, Seattle, WA. You can view the average rent breakdown for each zipcode by bedroom size.

Zipcode	Studio	1 Bed	2 Bed	All
98109, Seattle, WA	$1,905	$2,069	$3,095	$2,084
98121, Seattle, WA	$1,491	$2,347	$3,227	$2,000
98101, Seattle, WA	$1,945	$2,457	$3,722	$3,212
98122, Seattle, WA	$1,552	$1,750	$2,500	$1,750
98004, Bellevue, WA	$2,180	$2,945	$4,075	$3,430
98052, Redmond, WA	$2,032	$2,419	$3,040	$2,633

Frequently Asked Questions - Lake Union Average Rents

What is the average rent price in Lake Union, Seattle, WA?

The average monthly rental price for Lake Union, Seattle, WA apartments for rent is approximately $2,207. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do Lake Union, Seattle, WA rent prices drop in winter?

Yes! On average we see a 3.4% drop in rental prices between the peak summer months and the slower winter months. With the added bonus of decreased competition from other renters looking to move, winter is generally considered the best time of the year to find an apartment for rent in Lake Union, Seattle, WA.

How much is a studio apartment in Lake Union, Seattle, WA?

The average monthly rental price for studio apartments is $1,949 and an average price per square feet of $3.71. There are a total of 13 studio apartment listings currently available for rent in Lake Union.

How much is a one bedroom apartment in Lake Union, Seattle, WA?

The average monthly rental price for one bedroom apartments is $2,102 and an average price per square feet of $3.56. There are a total of 26 one bedroom apartment listings currently available for rent in Lake Union.

How much is a two bedroom apartment in Lake Union, Seattle, WA?

The average monthly rental price for two bedroom apartments is $3,100 and an average price per square feet of $3.18. There are a total of 15 two bedroom apartment listings currently available for rent in Lake Union.

How have rent prices in Lake Union, Seattle, WA changed this year?

Rent prices for rentals in Lake Union, Seattle, WA can fluctuate yearly. Specifically, studio rental prices have changed by 0.51%, one bedroom rental prices have changed by 0.17%, two bedroom rental prices have changed by -0.03%, and three bedroom rental prices have changed by 0.10% year-over-year.

What is a reasonable rent price in Lake Union, Seattle, WA?

A reasonable rent price in Lake Union, Seattle, WA is around $1,765/month. You can search for these reasonably priced rental listings on RentHop.