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Puget Sound apartment rents rise amid supply pressure

Rent growth has slowed, but remains positive
CoStar Analytics
June 16, 2026 | 2:59 P.M.

Seattle's apartment asking rents have been on the rise since the start of the year, with month-over-month rent growth measuring 0.5% in May. That was the weakest May rent growth in Seattle since a 2020 drop, but it is enough to keep annual rent growth in positive territory for the 32nd month in a row.

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