Average Rent in South-Lake Union, Seattle, WA

Current Versus Historical South-Lake Union, Seattle, WA Rents

South-Lake Union rentals average $2,050 for a studio rental to $3,594 for a 2-bedroom rental. The median price of all currently available listings is $2,238, or roughly $4 per square feet.

For the apartment units and housing in April 2024, median rents have been roughly unchanged over the last year. Studio rentals prices have increased by $136 (7.17%) year-over-year from $1,898 to $2,034. 1-bedroom rentals prices have decreased by $119 (-4.98%) year-over-year from $2,384 to $2,266. 2-bedroom rentals prices have decreased by $556 (-15.27%) year-over-year from $3,643 to $3,087. 3-bedroom rentals prices have increased by $2,022 (12.73%) year-over-year from $15,878 to $17,900. 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 2.01% this month. 1-bedroom rents have gone up by 0.99% this month. 2-bedroom rents have gone down by 8.70% this month. 3-bedroom rents have gone down by 0.00% this month.

Beds	Price / Sqft	Apr 2024 Rent	1 Yr Ago Rent (% +/-)	3 Yr Ago Rent (% +/-)
Studio	$3.99	$2,034	$1,898 (7.17%)	$1,998 (1.80%)
1 BR	$3.61	$2,266	$2,384 (-4.98%)	$1,989 (13.91%)
2 BR	$3.18	$3,087	$3,643 (-15.27%)	$3,040 (1.55%)

Historical Rents in South-Lake Union, Seattle, WA

Studio

1 Bed

2 Bed

3 Bed

4 Bed

Top Cities Near South-Lake Union

There are a total of 3 cities nearby South-Lake Union. The average rent in South-Lake Union is currently $2,475 per month. Only one city nearby has an average rent lower than that. Our records show that Seattle, WA, with an average rent of $2,018, is the most affordable city nearby. In contrast, the most expensive city near South-Lake Union, Seattle, WA is Bellevue, WA. Monthly rents here are on average $3,270 per month.

Let's compare South-Lake Union, Seattle, WA's rent against other top cities nearby by bedroom size. Typically, rent for studios in South-Lake Union, Seattle, WA is 2.34% more affordable than other cities nearby. One bedrooms are about 5.59% more affordable. Two bedrooms in South-Lake Union, Seattle, WA are about 12.55% more expensive. Finally, rent for three bedrooms are about inf% more affordable. Want more information? Check out the top 3 cities near South-Lake Union, Seattle, WA in the following chart.

City	Studio	1 Bed	2 Bed	All
Seattle, WA	$1,452	$1,916	$2,645	$2,018
Redmond, WA	$2,098	$2,382	$3,143	$2,475
Bellevue, WA	$2,170	$3,034	$3,645	$3,270

Top Neighborhoods Near South-Lake Union

There are a total of 5 neighborhoods in or near South-Lake Union. Some of these neighborhoods include Broadway, Belltown, and Downtown Redmond. We've included all of these top 5 neighborhoods in or near South-Lake Union, Seattle, WA in the following chart.

The average rent for these 5 neighborhoods in or near South-Lake Union, Seattle, WA is currently around $2,475 per month. A total of 2 neighborhoods have a lower average rent. Meaning, only three neighborhoods have a higher average rent than $2,475. Interestingly, the neighborhoods' average rent is higher than South-Lake Union's average rent, which is only $2,238. Out of all the neighborhoods in or near South-Lake Union, Broadway has the most affordable average rent at $1,675 per month. Whereas, at $3,373 average rent per month, Downtown Bellevue is the most expensive neighborhood in or near South-Lake Union. View the following chart for more information.

Neighborhood	Studio	1 Bed	2 Bed	All
Broadway, Seattle, WA	$1,495	$1,895	$2,695	$1,675
Belltown, Seattle, WA	$1,471	$1,975	$3,148	$1,906
Downtown Redmond, Redmond, WA	$2,098	$2,385	$3,152	$2,475
Central Business District, Seattle, WA	$1,945	$2,347	$3,757	$2,866
Downtown Bellevue, Bellevue, WA	$2,170	$3,140	$3,979	$3,373

Top Counties Near South-Lake Union

There are a total of 5 counties located by South-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 South-Lake Union

There are a total of 7 zipcodes in or near South-Lake Union, Seattle, WA. The average rent for all of these zipcodes is $2,157. A total of 4 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 $1,725 per month. In comparison, the zipcode with the most expensive average rent of $3,666 per month is 98004, Bellevue, WA.

Studios in these zipcodes have an average rent of $1,500. 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 South-Lake Union, Seattle, WA is $2,164 per month. Or in other words, $3 per sqft. Meanwhile, two bedroom apartments will cost you an average of $3,143 per month. Which comes out to $3 per sqft. The following chart includes the top 7 zipcodes in South-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	$1,500	$2,164	$3,041	$2,157
98121, Seattle, WA	$1,474	$1,906	$3,148	$1,906
98101, Seattle, WA	$1,918	$2,536	$4,063	$2,709
98122, Seattle, WA	$1,453	$1,725	$2,150	$1,725
98105, Seattle, WA	$1,430	$1,600	$2,545	$1,837
98004, Bellevue, WA	$2,170	$3,140	$3,979	$3,666
98052, Redmond, WA	$2,098	$2,382	$3,143	$2,492

Frequently Asked Questions - South-Lake Union Average Rents

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

The average monthly rental price for South-Lake Union, Seattle, WA apartments for rent is approximately $2,238. This calculation takes into consideration rental listings of varying bedroom/bathroom sizes, building types, and locations.

Do South-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 South-Lake Union, Seattle, WA.

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

The average monthly rental price for studio apartments is $2,050 and an average price per square feet of $3.99. There are a total of 7 studio apartment listings currently available for rent in South-Lake Union.

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

The average monthly rental price for one bedroom apartments is $2,256 and an average price per square feet of $3.61. There are a total of 21 one bedroom apartment listings currently available for rent in South-Lake Union.

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

The average monthly rental price for two bedroom apartments is $3,594 and an average price per square feet of $3.18. There are a total of 6 two bedroom apartment listings currently available for rent in South-Lake Union.

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

Rent prices for rentals in South-Lake Union, Seattle, WA can fluctuate yearly. Specifically, studio rental prices have changed by 0.07%, one bedroom rental prices have changed by -0.05%, two bedroom rental prices have changed by -0.15%, and three bedroom rental prices have changed by 0.13% year-over-year.

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

A reasonable rent price in South-Lake Union, Seattle, WA is around $1,790/month. You can search for these reasonably priced rental listings on RentHop.