Cheap Apartments for Rent in 98040
59 rentals
Use arrow keys to navigateNEW - 2 DAYS AGOSPECIAL OFFERPET FRIENDLYTotal price$1,738 - $3,703/mo
1-4 Beds
1-2 BathsShorewood | 3209 Shorewood Dr,
Mercer Island, WA 98040
Use arrow keys to navigateAPPLY INSTANTLYFURNISHEDROOM FOR RENT
Use arrow keys to navigatePET FRIENDLYFURNISHED
Use arrow keys to navigateAPPLY INSTANTLYPET FRIENDLY
Use arrow keys to navigatePET FRIENDLY
Use arrow keys to navigatePET FRIENDLY
Use arrow keys to navigatePET FRIENDLY
SPECIAL OFFERPET FRIENDLY
SPECIAL OFFERPET FRIENDLY$2,105 - $3,945/moStudio-2 Beds1-2 BathsThe Mercer Apartment Homes | 7650 SE 27th St,
Mercer Island, WA 98040
NEW - 1 DAY AGOPET FRIENDLY
PET FRIENDLY
$2,300 - $3,500/mo1-3 Beds1-2 BathsNewell Court Apartments, downtown Mercer Island | 3011 78th Ave SE,
Mercer Island, WA 98040
SPECIAL OFFERPET FRIENDLY
SPECIAL OFFERPET FRIENDLY
NEW - 12 HRS AGO
APPLY INSTANTLYPET FRIENDLY
APPLY INSTANTLY
PET FRIENDLYTotal price$2,588 - $6,155/moStudio-3 Beds1-2 Baths77 Central | 2630 77th Ave SE,
Mercer Island, WA 98040
APPLY INSTANTLYFURNISHED
APPLY INSTANTLYFURNISHED
APPLY INSTANTLY
PET FRIENDLY
APPLY INSTANTLYPET FRIENDLY
APPLY INSTANTLY
APPLY INSTANTLYPET FRIENDLYFURNISHED
APPLY INSTANTLY
NEW - 2 DAYS AGOAPPLY INSTANTLYPET FRIENDLY
APPLY INSTANTLYFURNISHED
APPLY INSTANTLY
APPLY INSTANTLYPET FRIENDLY
APPLY INSTANTLYPET FRIENDLY
APPLY INSTANTLYPET FRIENDLY
APPLY INSTANTLY
PET FRIENDLY
PET FRIENDLY
APPLY INSTANTLY
NEW - 2 DAYS AGOPET FRIENDLY
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Average Rent Trends in 98040
Rent in 98040 varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent increased in Aug 2026 compared to the previous month. Rent previously peaked in Dec 2025.
| Month | Average rent |
|---|---|
| Sep 2025 | $4,250 |
| Oct 2025 | $4,450 |
| Nov 2025 | $3,650 |
| Dec 2025 | $4,850 |
| Jan 2026 | $3,650 |
| Feb 2026 | $3,100 |
| Mar 2026 | $3,143 |
| Apr 2026 | $2,995 |
| May 2026 | $2,950 |
| Jun 2026 | $3,200 |
| Jul 2026 | $3,195 |
| Aug 2026 | $3,250 |
Average Rent By Bedroom and Home Type
In August 2026, Townhomes were the most affordable home type to rent compared with Apartments and Condos and Houses.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $2,500 | $3,032 | $4,200 | $6,500 | $4,000 |
| Townhomes | — | $2,650 | $4,500 | — | $2,650 |
| Apartments and Condos | $2,500 | $2,995 | — | — | $2,895 |
| Houses | $3,350 | $4,267 | $1,800 | $6,500 | $6,500 |
Frequently Asked Questions about Rentals in 98040
- What is the average rent of an apartment in 98040?The average rent of an apartment in 98040 is $2,706 per month. This is about 38% higher than the national average.
- When is the average rent cheapest in 98040?In the last year, the average rent in 98040 was lowest in Feb 2025 when it was $2,795 per month.
- When is the average rent most expensive in 98040?In the last year, the average rent in 98040 was highest in Dec 2025 when it was $4,850 per month.
- How does the rent of a 1 bedroom apartment compare to a studio apartment in 98040?The average rent of a 1 bedroom apartment in 98040 is $2,500 per month. That is about $218 more than the cost of a studio apartment.
- How many available rental listings are in 98040?There are 58 available rental listings in 98040.
- What are some cities near 98040?Some nearby cities include: Mercer Island, Beaux Arts Village, Newcastle, Medina, Bellevue, Clyde Hill. These cities may have more rental options to explore.
View this page in Spanish: Apartamentos baratos en renta en 98040 - 243 Rentas | Trulia