WASHINGTON · RENT OR SELL
Should you rent or sell your house in Seattle, WA?
The calculator below starts with a typical Seattle home — median value, median rent, local property tax. Swap in your own numbers to see what renting puts in your pocket each month and what selling puts in your hand today.
Seattle by the numbers
| Measure | Seattle | Typical Washington city |
|---|---|---|
| Median home value | $938,600 | $552,800 |
| Median rent (monthly) | $2,030 | $1,870 |
| Years of rent to buy | 38.5 | 25.6 |
| Value change since 2015–2019 | 42% | 70% |
| Homes that are rented | 56% | 40% |
| Property tax, % of value | 0.8% | 0.8% |
| Population | 754,195 | — |
Source: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates (tables B01003, B25077, B25064, B25103, B25003); 2015–2019 values from Census ACS 2015–2019. "Typical" is the median across the 75 Washington cities of 20,000+ people we track. Median rent covers every kind of rental, including apartments — a single-family house often rents for more.
What the numbers say about Seattle
The median home in Seattle is worth about $938,600, and the median rent is $2,030 a month. That's about 38.5 years of rent to buy the home — more than the typical Washington city we track (25.6). Homes here are pricey next to what they rent for, so rent has a harder time covering the costs of an owned house, and selling often looks better on paper.
Values have risen about 42% since the 2015–2019 Census survey, when the median was $663,100 — slower than most of Washington (70%). That is enough gain that selling before the tax-free window closes can be worth real money.
Take an owner who bought a median-priced Seattle home around mid-2019 for $663,000, with 20% down at 3.94%. Their payment is about $2,514 a month. Rented at the median rent, after property tax of about $7,300 a year, insurance, a repair reserve and a little vacancy, it would cost about $1,506 a month out of pocket. Selling at today's median would put about $421,270 in hand after the loan and selling costs — a gain of about $210,270, which a single filer could usually keep tax-free by selling in time.
About 56% of homes in Seattle are rented, more than in most Washington cities (40%) — a deep pool of renters means shorter vacancies. Property tax runs about 0.8% of value a year, typical for Washington (0.8%).
The example owner is an illustration, not a forecast: bought at the 2015–2019 median with 20% down at 3.94% (Freddie Mac PMMS 2019 average), a 30-year loan, $1,800 a year of insurance, an 8% repair reserve, 5% vacancy, and 7% selling costs.
If you rent it out in Washington
Security deposit. Return the deposit within 30 days, counted from the day the rental agreement ends and the tenant has moved out (or the day you learn they abandoned the unit). Give a full and specific statement of why you are keeping any of the deposit, together with the refund. For damage charges include copies of estimates, invoices, or receipts; if you did the repair yourself, list the time spent and a reasonable hourly rate.
Late fees. No late fee is allowed if rent is paid within five days after the due date. With rent due on the 1st, a fee can apply only if rent is still unpaid after the 6th — and then it may run from the 2nd. Washington state law sets no percentage cap on late fees for ordinary rentals. (The 2025 caps you may read about apply only to manufactured and mobile home communities.) Source: RCW 59.18.170 · verified October 3, 2026
Source: RCW 59.18.280, RCW 59.18.260 · verified October 3, 2026
General information, not legal advice. Laws change and local rules can be stricter — check the linked statute before you act.
More detail: Washington security deposit rules · Should I rent or sell my house? · The 2-out-of-5-year rule
QUESTIONS
Seattle questions
Is it better to rent out or sell a house in Seattle?
For a typical Seattle home bought around 2019, renting at the median rent of $2,030 works out to about $1,506 a month out of pocket, while selling at the median value of $938,600 would net about $421,270. Your own mortgage, rent and purchase price decide it — enter them in the calculator above.
What is the median rent in Seattle?
$2,030 a month, per the Census ACS 2020–2024 estimates. That median covers every kind of rental, including apartments, so a single-family house often rents for more.
How much is property tax in Seattle?
The median owner pays about $7,337 a year, roughly 0.8% of the median home value (Census ACS 2020–2024). Your bill depends on your appraisal and exemptions — and a rental loses any homestead exemption.