Cheap Apartments for Rent in 98516
64 rentals
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Use arrow keys to navigateSPECIAL OFFERPET FRIENDLYTotal price$1,452 - $2,183/mo
Studio-3 Beds
1-2 BathsBritton Place | 6655 Britton Pkwy NE,
Olympia, WA 98516
SPECIAL OFFERPET FRIENDLYTotal price$1,484 - $2,168/moStudio-2 Beds1-2 BathsThe Marq on Martin | 8515 Litt Dr SE,
Lacey, WA 98516
SPECIAL OFFERPET FRIENDLYTotal price$1,533 - $2,084/moStudio-2 Beds1-2 BathsMartingale Apartments | 8675 Litt Dr SE,
Olympia, WA 98516
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SPECIAL OFFERPET FRIENDLYTotal price$1,650 - $2,290/moStudio-2 Beds1-2 BathsToscana Apartment Homes | 6979 Birdseye Ave NE,
Olympia, WA 98516
PET FRIENDLY
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SPECIAL OFFERTotal price$1,724 - $2,105/mo1-2 Beds1-2 BathsGayteway at Hawks Prairie | 8825 Martin Way E,
Olympia, WA 98516
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Average Rent Trends in 98516
Rent in 98516 varies by number of bedrooms and home type. Use these charts to quickly see how rent changes.
Average rent decreased in Oct 2026 compared to the previous month. Rent previously peaked in Jul 2025.
| Month | Average rent |
|---|---|
| Nov 2025 | $2,475 |
| Dec 2025 | $2,595 |
| Jan 2026 | $2,500 |
| Feb 2026 | $2,500 |
| Mar 2026 | $2,450 |
| Apr 2026 | $2,200 |
| May 2026 | $2,250 |
| Jun 2026 | $2,616 |
| Jul 2026 | $2,495 |
| Aug 2026 | $2,500 |
| Sep 2026 | $2,495 |
| Oct 2026 | $2,397 |
Average Rent By Bedroom and Home Type
In October 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 | $1,748 | $2,095 | $2,583 | $2,995 | $2,400 |
| Townhomes | $1,274 | $1,900 | $2,450 | $2,675 | $2,100 |
| Apartments and Condos | — | $1,775 | $2,500 | — | $1,000 |
| Houses | — | $2,595 | $2,700 | $2,995 | $2,800 |
Frequently Asked Questions about Rentals in 98516
- What is the average rent of an apartment in 98516?The average rent of an apartment in 98516 is $1,575 per month. This is about 18% lower than the national average.
- What are the cheapest months to find an apartment to rent in 98516?Last year, the cheapest month to find an apartment to rent was Feb 2025 when it was $2,195 per month.
- How many cheap apartments are available in 98516?There are 29 apartments to rent that are cheaper than the city’s average rent of $2,400.
- When is the average rent most expensive in 98516?In the last year, the average rent in 98516 was highest in Jul 2025 when it was $2,695 per month.
- How does the rent of a 1 bedroom apartment compare to a studio apartment in 98516?The average rent of a 1 bedroom apartment in 98516 is $1,748 per month. That is about $225 more than the cost of a studio apartment.
- What are some cities near 98516?Some nearby cities include: Lacey, Dupont, Longbranch, Olympia, Nisqually Indian Community, Steilacoom. These cities may have more rental options to explore.
View this page in Spanish: Apartamentos baratos en renta en 98516 - 325 Rentas | Trulia