Cheap Apartments for Rent in 98040

28 rentals

Apartments For Rent Near 98040

We found 30 more apartments matching your filters just outside 98040

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 decreased in May 2026 compared to the previous month. Rent previously peaked in Dec 2025.
MonthAverage rent
Jun 2025$2,985
Jul 2025$3,995
Aug 2025$3,600
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$3,134
Apr 2026$2,995
May 2026$2,950
View as a graph

Average Rent By Bedroom and Home Type

In May 2026, Apartments and Condos were the most affordable home type to rent compared with Houses.
1 bed2 beds3 beds4 bedsAll
All home types$2,421$2,849$3,650$7,500$2,994
Apartments and Condos$2,150$3,200$3,100—$2,578
Houses——$3,995$8,500$7,500

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 $2,698 per month. This is about 40% higher than the national average.
  • What is the average rent of a house in 98040?
    The average rent of a house in 98040 is $7,500 per month. This is about 289% 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 $2,421 per month. That is about $342 more than the cost of a studio apartment.
  • How many available rental listings are in 98040?
    There are 39 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.