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ZIP Code · WA

ZIP 98116

Part of Seattle, WA
Pop. 28,711·King County·64th most expensive ZIP in Washington
Median rent (all units)
$2,242/mo
Year-over-Year
+5.6%
Month-over-Month
+2.5%
vs US Median
+$277
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 98116 · $2,242
More expensive than 71% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$2,160
1 BR
$2,230
2 BR
$2,600
3 BR
$3,400
4 BR+
$4,000
Research median
$2,600/mo

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

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$26,904/yr
At $2,242/mo median
Location
StateWA
CountyKing County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 5.6% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+5.6% YoY, +2.5% MoM), not inventory.
Demographics

Who lives here

ZIP 98116 (Seattle, WA) is roughly split between renters and owners, has a median income above the national average, 67% of residents hold a bachelor's degree or higher.

Population
28,711
Median income
$126,151
Median age
40.6
Renters
50.3%
Age distribution
15.6%
21.4%
32.9%
14.1%
16%
Under 1815.6%
18–3421.4%
35–5432.9%
55–6414.1%
65+16%
Gender
49.5%
50.5%
Male49.5%
Female50.5%
Race & ethnicity
76.2%
White76.2%
Black5.4%
Hispanic5.4%
Asian6.8%
Other6.2%
Education (25+)
21.7%
67%
No HS diploma1.8%
HS diploma9.5%
Some college21.7%
Bachelor's+67%
Housing tenure
49.7%
50.3%
Owner49.7%
Renter50.3%

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

2021 vs 2026

How ZIP 98116 in Seattle, WA has changed in 5 years

Rent
$1,658 → $2,242
up 35.2%
Income
$124,795 → $126,151
up 1.1%
Population
27,190 → 28,711
up 5.6%
Renter share
43.8% → 50.3%
+6.5 pts
Bachelor's+
69.4% → 67%
-2.4 pts
Median age
39.1 → 40.6
+1.5 yrs

Across the past five years, the going rent in ZIP 98116 in Seattle, WA has shifted from $1,658 to $2,242, up 35.2% since 2021. Local incomes tracked alongside that move, going from a median of $124,795 in 2021 to $126,151 more recently. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 98116 in Seattle, WA adding about 1,521 residents over the five-year window, up 5.6% on net. The renter share has risen from 43.8% to 50.3%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 69.4% to 67% across the same window. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 98116 in Seattle, WA market of 2021.

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Local insights

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About renting in ZIP 98116

Last updated: July 20, 2026

ZIP code 98116 covers Seattle, WA. The median rent here is $2,242/mo as of July 2026. A 1-bedroom rents for a median of $2,230/mo. A 2-bedroom rents for a median of $2,600/mo.

At 21% of local median household income ($126,151/yr), ZIP 98116 ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.6% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 98116?

As of July 20, 2026, the median monthly rent in ZIP 98116 (Seattle, WA) is $2,242. This is based on aggregated data from public sources and community submissions.

How does ZIP 98116 rent compare to the US average?

ZIP 98116's median rent of $2,242/mo is $277 (14%) above the US national median of $1,965/mo.

How does ZIP 98116 compare to other ZIPs in Washington?

ZIP 98116 is one of the pricier ZIP codes in Washington, ranking #64 out of 209 ZIPs tracked at $2,242/mo.

How much income do you need to rent in ZIP 98116?

To keep rent at or below 30% of gross income, you would need to earn at least $90,000/year (~$43/hour full-time) to afford the median rent of $2,242/mo in ZIP 98116. The local median household income is $126,151/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 98116?

Rent in ZIP 98116 has increased 5.6% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 98116 an affordable place to rent?

ZIP 98116 is considered very affordable for renters. At $2,242/mo, rent takes approximately 21% of the local median household income ($126,151/yr). The standard benchmark is 30%. ZIP 98116 falls comfortably within that range.

What percentage of ZIP 98116 residents rent vs. own?

According to Census data, approximately 50.3% of ZIP 98116 households are renters, while 49.7% are owner-occupied. With a majority renter population, ZIP 98116 has a strong rental market.

How does ZIP 98116 compare to the rest of Seattle?

ZIP 98116 is pricier than Seattle as a whole. At $2,242/mo, it's $18 above the Seattle citywide median of $2,224/mo.

When was rent data for ZIP 98116 last updated?

Rent data for ZIP 98116 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
21%
VERY AFFORDABLE

At $2,242/mo, rent takes ~21% of ZIP 98116's median household income ($126,151/yr). The standard benchmark is 30%.

ZIP 98116 21%Benchmark 30%
State income taxNone
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Schools nearby

Public schools near ZIP 98116 (Seattle, WA)

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