Rents are 10% below what Olympia's 10-year trend predicts — a better deal than its own history suggests.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,969 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in Olympia usually run 1.2% below trend in January and 0.8% above it in August, about $39 a month apart at today's median. Based on 11 years of data.
Rent in Olympia is at its highest level since Zillow's records here began in January 2015.
Rent in Olympia changed +2.9% over the year to September 2026. Across the 97 Washington cities Zillow tracks, the typical change was +2.6%.
From 2019 to 2024, rent in Olympia rose 38.3% while median household income rose 35.8% ($59,878 to $81,302). Rent outpaced income.
Rent in Olympia is 40.9% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 3 months in a row, and rose in 10 of the last 12 months.
30% of the median household income ($81,302) is $2,033 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,788); a 3-bedroom is $2,450.
The priciest of 4 ZIP codes in Olympia, 98506 ($2,038/mo), costs 7% more than the cheapest, 98501 ($1,900/mo).
Centralia, 21 miles away, rents for 27% less ($1,433/mo), about $6,400 a year in savings.
From Zillow's monthly rent index (ZORI) for Olympia. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
Is your rent fair?
Compare your rent to the local median.
Who lives here
Olympia, WA is roughly split between renters and owners, 51.8% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Olympia, WA has changed in 5 years
Across the past five years, the going rent in Olympia, WA has shifted from $1,549 to $1,969, up 27.1% since 2021. Household income in the area moved from $67,975 to $81,302 across the same window, up 19.6% versus 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show Olympia, WA adding about 1,372 residents over the five-year window, up 2.5% on net. Bachelor's-degree-or-higher attainment moved from 46.3% to 51.8% across the same window. Reading these numbers side by side helps frame whether current listings in Olympia, WA look reasonable against where the market sat half a decade ago.
Discussions about Olympia
No discussions yet. Start the conversation.
Can you afford rent in Olympia on your salary?
At $1,969/mo, how Olympia rent compares to typical pay (30% rule).
Olympia rent by bedroom count
Median rent for each apartment size in Olympia. Click any size for full breakdown.
Tips for renters in Olympia
Last updated: October 17, 2026
The median rent in Olympia is $1,969/mo as of October 2026. A studio apartment averages $1,350/mo while a 2-bedroom runs $1,788/mo. One-bedroom apartments average $1,538/mo and 3-bedroom units go for $2,450/mo.
At 29% of local median household income ($81,302/yr), Olympia ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.9% over the past year.
Frequently asked questions
How much income do you need to rent in Olympia?
Is rent going up or down in Olympia?
When is the cheapest time to rent in Olympia?
Has rent outpaced income in Olympia?
Which Olympia neighborhoods have the lowest rent?
How does Olympia rent compare to other cities in Washington?
At $1,969/mo, rent takes ~29% of Olympia's median household income ($81,302/yr). The standard benchmark is 30%.
How does this area stack up?
Pick another city or ZIP to compare.
Estimated from ZIP-level data
Be the first to submit your rent for Olympia.
No discussions yet.