Cheap Apartments for Rent in 98516
54 rentals
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Use arrow keys to navigatePET FRIENDLY$1,275 - $1,475/mo
1-2 Beds
1 BathEmerald Greens Apartments Modern Living in the Heart of Olympia | 7917 Martin Way E #23,
Olympia, WA 98516
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Use arrow keys to navigateSPECIAL OFFERPET FRIENDLY$1,625 - $2,225/moStudio-2 Beds1-2 BathsToscana Apartment Homes | 6979 Birdseye Ave NE #6961-103,
Olympia, WA 98516
NEW - 8 HRS AGOPET FRIENDLY$1,646 - $2,166/mo1-2 Beds1-2 BathsAbbey Rowe Apartments | 9320 Windsor Ln NE #C106,
Olympia, WA 98516
NEW - 2 DAYS AGO$1,655 - $1,725/mo1 Bed1 BathGayteway at Hawks Prairie | 8825 Martin Way E #2-207,
Olympia, WA 98516
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SPECIAL OFFERPET FRIENDLYTotal price$1,869 - $2,328/mo2-3 Beds2 BathsBritton Place | 6655 Britton Pkwy NE #19-202,
Olympia, WA 98516
PET FRIENDLY$1,875 - $2,655/mo1-3 Beds1-2 BathsKarlo Lacey Apartments | 8811 31st Ave NE #A205,
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 increased in May 2026 compared to the previous month. Rent previously peaked in Jul 2025.
| Month | Average rent |
|---|---|
| Jun 2025 | $2,390 |
| Jul 2025 | $2,695 |
| Aug 2025 | $2,595 |
| Sep 2025 | $2,649 |
| Oct 2025 | $2,650 |
| 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 | $2,256 |
Average Rent By Bedroom and Home Type
In May 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 | $1,709 | $2,121 | $2,625 | $2,899 | $2,450 |
| Townhomes | $1,248 | $1,780 | $1,918 | — | $1,895 |
| Apartments and Condos | $2,200 | $2,095 | — | $2,500 | $2,200 |
| Houses | $2,200 | $2,450 | $2,708 | $2,945 | $2,899 |
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 $1,918 per month. This is about 1% lower than the national average.
- What is the average rent of a house in 98516?The average rent of a house in 98516 is $2,899 per month. This is about 50% higher than the national average.
- What is the average rent of a townhome in 98516?The average rent of a townhome in 98516 is $1,895 per month. This is about 2% lower than the national average.
- When is the average rent cheapest in 98516?In the last year, the average rent in 98516 was lowest in Feb 2025 when it was $2,195 per month.
- 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 $1,709 per month. That is about $221 more than the cost of a studio apartment.
- How many available rental listings are in 98516?There are 58 available rental listings in 98516.
- 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.