Matrix Multifamily Seattle Report-November 2025 November 19, 2025

Steady Fundamentals in Seattle

Seattle’s advertised asking rents dipped 0.3 percent on a T3 basis to $2,231 in September, underperforming the national rate, which was down 10 basis points to $1,750. As construction starts eased, occupancy gained 10 bps YoY, reaching 95.5 percent in August.