Luxury Apartments for Rent in 98040
57 rentals
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PET FRIENDLYTotal price$2,420 - $6,111/mo
Studio-3 Beds
1-2 Baths77 Central | 2630 77th Ave SE,
Mercer Island, WA 98040
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NEW - 1 DAY AGOSPECIAL OFFERPET FRIENDLYTotal price$2,124 - $4,218/moStudio-2 Beds1-2 BathsIsland Square | 2758 78th Ave SE,
Mercer Island, WA 98040
NEW - 21 HRS AGOSPECIAL OFFERPET FRIENDLY$2,420 - $3,960/moStudio-2 Beds1-2 BathsThe Mercer Apartment Homes | 7650 SE 27th St,
Mercer Island, WA 98040
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SPECIAL OFFERPET FRIENDLYTotal price$1,758 - $3,619/mo1-4 Beds1-2 BathsShorewood | 3209 Shorewood Dr,
Mercer Island, WA 98040
PET FRIENDLY$2,300 - $3,500/mo1-3 Beds1-2 BathsNewell Court Apartments, downtown Mercer Island | 3011 78th Ave SE,
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 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 | $3,000 | $4,100 | $6,995 | $3,800 |
| Townhomes | $2,395 | $4,500 | $5,800 | — | $2,395 |
| Apartments and Condos | $2,500 | $2,999 | — | — | $2,782 |
| Houses | $3,350 | $2,700 | $4,100 | $6,995 | $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 $2,709 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 $231 more than the cost of a studio apartment.
- How many available rental listings are in 98040?There are 63 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 - 239 Rentas | Trulia