Rental market data · 2024 Census estimates

Seattle, WA rental yield and cash flow

In the Seattle-Tacoma-Bellevue, WA metro, the median owner-occupied home was valued at $743,000 and the median gross rent was $2,050 a month in 2024. That is a gross rent yield of 3.31%, rank 93 of the 100 largest metros we track.

$743,000Median home value (±$6,997)

$2,050Median gross rent / mo (±$25)

3.31%Gross rent yield

30.2Price-to-rent ratio

0.85%Median taxes ÷ median value

42%Renter-occupied homes

0.28%Monthly rent ÷ price (1% rule)

4.15MMetro population

Does the median home cash flow at today's rate?

We priced a hypothetical rental at the metro medians: $743,000 purchase, $2,050 rent, 25% down, a 30-year loan at 7.28% (Freddie Mac's 30-year average for the week of October 1, 2026), $6,294 in annual property taxes, insurance at 0.5% of price, and 5% vacancy, 10% repairs and 8% management.

At these assumptions the median-priced home runs about $3,068 a month short of covering its costs (DSCR 0.20). Rent would need to reach about $6,035, 194% above the median, to break even, or the price would need to be near $154,293 for a 1.25 DSCR. Net operating income is about $8,933 a year, a 1.20% cap rate, against $45,753 of annual debt service.

Investment-property loans usually price above the owner-occupant average this survey reports, and your insurance quote, tax bill and rent will differ from a metro median. Change any input below.

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How Seattle compares

Metros with the nearest gross yields among the 100 we track. * Cash flow uses the same assumptions as above.

Rank	Metro	Median value	Median rent	Gross yield	Price-to-rent	Cash flow / mo*
90	Providence, RI-MA	$471,000	$1,396	3.56%	28.1	-$1,950
91	Salt Lake City, UT	$575,200	$1,659	3.46%	28.9	-$2,158
92	New York, NY-NJ	$648,800	$1,851	3.42%	29.2	-$3,006
93	Seattle, WA	$743,000	$2,050	3.31%	30.2	-$3,068
94	Provo, UT	$584,600	$1,611	3.31%	30.2	-$2,214
95	Oxnard, CA	$869,300	$2,313	3.19%	31.3	-$3,531
96	San Diego, CA	$914,700	$2,336	3.06%	32.6	-$3,772

What these numbers leave out

Census gross rent includes utilities when the tenant pays them, so it can overstate what a landlord collects. Median value describes owner-occupied homes, not the rental stock, and a metro median hides wide neighborhood differences. Treat this page as a screen, then underwrite the specific property.

Sources

U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25064 (median gross rent)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25077 (median value, owner-occupied housing units)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25103 (median real estate taxes paid)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B25003 (housing tenure)
U.S. Census Bureau, 2024 American Community Survey 1-year estimates, table B01003 (total population)
Freddie Mac Primary Mortgage Market Survey (30-year fixed average, week of October 1, 2026)

Data snapshot October 7, 2026. Methodology: all metros.