How much does it cost to rent in Mercer Island, WA?

As of July 2026, the median monthly rent in Mercer Island, WA is $2,654. This figure is based on aggregated data from public sources and community-submitted rents.

Is Mercer Island cheaper than other Washington cities?

Mercer Island is one of the pricier cities in Washington, ranking #17 out of 110 cities tracked at $2,654/mo.

When was Mercer Island rent data last updated?

Mercer Island rent data reflects July 2026 and was last refreshed on July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.

City Report · WA

Mercer Island

Name: Average Rent Prices in Mercer Island, WA
Creator: RentDataNow
License: https://rentdatanow.com/terms-of-service

Pop. 25,307·17th most expensive in Washington·One of the pricier rental markets in the US

Median rent (all units)

$2,654/mo

Year-over-Year

-0.5%

Month-over-Month

+3.7%

vs US Median

+$689

Rising (Monthly)

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Most AffordableMost Expensive

Mercer Island · $2,654

More expensive than 83% of US cities · National median $1,965/mo

Rent Reality Score

59/100

Fairly priced

OverheatedFairGreat value

Rents are 4% below what Mercer Island's 10-year trend predicts — a better deal than its own history suggests.

Actual rent

$2,654/mo

Expected by trend

$2,774/mo

The Rent Reality Score compares today's median rent to where Mercer Island's own long-run trajectory projects it should be. See the full rankings →

Medians by bedroom

Rent by unit size

Studio

$2,046

1 BR

$2,091

2 BR

$2,438

3 BR

$3,214

4 BR+

$3,746

Research median

$2,438/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost

$31,848/yr

At $2,654/mo median

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 0.5% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (-0.5% YoY, +3.7% MoM), not inventory.

Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

Who lives here

Mercer Island, WA is majority owner-occupied, has a large retiree population, has a median income above the national average, 81.4% of residents hold a bachelor's degree or higher.

Population

25,307

Median income

$219,069

Median age

46.4

Renters

33%

Age distribution

21.5%

14.9%

27.5%

14%

22.2%

Under 1821.5%

18–3414.9%

35–5427.5%

55–6414%

65+22.2%

Gender

47.6%

52.4%

Male47.6%

Female52.4%

Race & ethnicity

63.6%

24.5%

White63.6%

Black0.9%

Hispanic2.4%

Asian24.5%

Other8.6%

Education (25+)

81.4%

No HS diploma1.6%

HS diploma5%

Some college11.9%

Bachelor's+81.4%

Housing tenure

67%

33%

Owner67%

Renter33%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Mercer Island, WA has changed in 5 years

Rent

$2,083 → $2,654

up 27.4%

Income

$170,000 → $219,069

up 28.9%

Population

25,506 → 25,307

down 0.8%

Renter share

32.3% → 33%

+0.7 pts

Bachelor's+

77.5% → 81.4%

+3.9 pts

Median age

45.5 → 46.4

+0.9 yrs

Rent in Mercer Island, WA has climbed 27.4% since 2021, going from about $2,083 per month to roughly $2,654 today. On the earnings side, the typical household in Mercer Island, WA now reports about $219,069, up from $170,000 in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 77.5% to 81.4%. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and Mercer Island, WA reflects that arc in its own way.

Community

Discussions about Mercer Island

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View Mercer Island rent history (2015–2026) →

Salary vs rent

Can you afford rent in Mercer Island on your salary?

At $2,654/mo, how Mercer Island rent compares to typical pay (30% rule).

Registered Nurse

Avg $105,818/yr · Rent = 30.1% income

stretched

Elementary School Teacher

Avg $75,130/yr · Rent = 42.4% income

rent-burdened

Police Officer

Avg $86,542/yr · Rent = 36.8% income

stretched

Software Developer

Avg $154,683/yr · Rent = 20.6% income

affordable

Lawyer

Avg $197,646/yr · Rent = 16.1% income

very comfortable

Firefighter

Avg $70,347/yr · Rent = 45.3% income

rent-burdened

Truck Driver

Avg $63,515/yr · Rent = 50.1% income

severely rent-burdened

Electrician

Avg $78,288/yr · Rent = 40.7% income

rent-burdened

By apartment size

Mercer Island rent by bedroom count

Median rent for each apartment size in Mercer Island. Click any size for full breakdown.

Local insights

Tips for renters in Mercer Island

About renting in Mercer Island, WA

Last updated: July 20, 2026

The median rent in Mercer Island is $2,654/mo as of July 2026. A studio apartment averages $2,046/mo while a 2-bedroom runs $2,438/mo. One-bedroom apartments average $2,091/mo and 3-bedroom units go for $3,214/mo.

At 15% of local median household income ($219,069/yr), Mercer Island ranks as affordable compared to the national benchmark of 30%. Rents have decreased 0.5% over the past year.

FAQ

Frequently asked questions

Is Mercer Island an affordable city for renters?

Mercer Island is considered very affordable for renters. At $2,654/mo, rent takes approximately 15% of the local median household income ($219,069/yr). The standard benchmark is 30%. Mercer Island falls comfortably within that range.

How much income do you need to rent in Mercer Island?

To keep rent at or below 30% of gross income, you would need to earn at least $106,000/year (~$51/hour full-time) to afford the median rent of $2,654/mo in Mercer Island. The local median household income is $219,069/yr, meaning the typical Mercer Island household meets that threshold.

Is rent going up or down in Mercer Island?

Rent in Mercer Island has decreased 0.5% over the past year as of July 2026, offering some relief compared to 12 months ago.

How does Mercer Island rent compare to other cities in Washington?

Mercer Island is one of the pricier cities in Washington for rent, ranking #17 out of 110 tracked cities at $2,654/mo.

Which nearby cities are cheaper to rent in than Mercer Island?

Several nearby cities have lower median rents than Mercer Island ($2,654/mo): Tukwila ($1,983/mo), Bryn Mawr-Skyway ($2,000/mo), Renton ($2,191/mo).

What percentage of Mercer Island residents rent vs. own?

According to Census data, approximately 33% of Mercer Island households are renters, while 67% are owner-occupied. Mercer Island leans toward homeownership, which can mean a smaller rental inventory.

How does Mercer Island rent compare to the national average?

Mercer Island's median rent of $2,654/mo is $689 (35%) above the US national median of $1,965/mo. Within Washington, it ranks #17 out of 110 tracked cities.

Income Affordability

15%

VERY AFFORDABLE

At $2,654/mo, rent takes ~15% of Mercer Island's median household income ($219,069/yr). The standard benchmark is 30%.

Mercer Island 15%Benchmark 30%

State income taxNone

Run the Mercer Island affordability calculator →

Nearby cities