Matrix Multifamily Seattle Report-November 2024 November 27, 2024

Seattle Maintains Balance

Demand drove improvement in Seattle, with advertised asking rents up 1.2 percent YoY to $2,216, outperforming the 0.9 percent U.S. rate as of September. The occupancy rate also rose, up 20 bps YoY to 95.5 percent, as construction moderated.