Luxury Apartments for Rent in 98040
43 rentals
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SPECIAL OFFERPET FRIENDLYTotal price$1,993 - $6,385/mo
Studio-3 Beds
1-2 Baths77 Central | 2630 77th Ave SE #A501,
Mercer Island, WA 98040
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SPECIAL OFFERPET FRIENDLYTotal price$1,976 - $4,415/mo1-4 Beds1-2 BathsShorewood | 3209 Shorewood Dr #8-447,
Mercer Island, WA 98040
PET FRIENDLY$2,215 - $4,290/moStudio-2 Beds1-2 BathsThe Mercer Apartment Homes | 7650 SE 27th St #301,
Mercer Island, WA 98040
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PET FRIENDLYFURNISHED$1,974 - $3,719/moStudio-2 Beds1-2 BathsIsland Square | 2758 78th Ave SE #215,
Mercer Island, WA 98040
$2,300 - $3,500/mo1-3 Beds1-2 BathsNewell Court Apartments, downtown Mercer Island | 3011 78th Ave SE #NC214,
Mercer Island, WA 98040
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PET FRIENDLY$2,000 - $2,500/mo1-2 Beds1 BathMercer Manor Apartments | 2717 76th Ave SE #MM207,
Mercer Island, WA 98040
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PET FRIENDLY$2,295 - $2,350/mo2 Beds1 BathMercer View Apartments | 3015 81st Pl SE #203,
Mercer Island, WA 98040
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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 stayed about the same in Jul 2026 compared to the previous month. Rent previously peaked in Dec 2025.
| Month | Average rent |
|---|---|
| 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 |
| Jun 2026 | $3,200 |
| Jul 2026 | $3,195 |
Average Rent By Bedroom and Home Type
In July 2026, Apartments and Condos were the most affordable home type to rent compared with Townhomes and Houses.
| 1 bed | 2 beds | 3 beds | 4 beds | All | |
|---|---|---|---|---|---|
| All home types | $2,350 | $3,172 | $5,200 | $6,900 | $3,200 |
| Townhomes | — | $2,795 | — | — | $2,795 |
| Apartments and Condos | $2,173 | $3,100 | — | — | $2,500 |
| Houses | — | $2,871 | $5,600 | $6,900 | $5,700 |
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 $2,575 per month. This is about 32% 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 $2,350 per month. That is about $56 less than the cost of a studio apartment.
- How many available rental listings are in 98040?There are 48 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 de lujo en renta en 98040 - 218 Rentas | Trulia