ZIP 98109 covers residential neighborhoods in Seattle, located within King County, WA, part of the broader Seattle housing market. The typical home value in ZIP 98109 in the Seattle housing market is $772,473, with a typical rent of $2,509 per month. That puts the local home-value-to-annual-rent ratio at 25.7.
Key stats
- ZIP 98109 is around the 38th percentile of tracked local ZIPs for home value.
- ZIP 98109 is around the 62nd percentile of tracked local ZIPs for buyer competition.
- The market-level home-value-to-annual-rent ratio is 25.7.
- 63 homes went pending for every 100 new listings in the current reading.
- Supply and buyer competition did not produce a clear easing or tightening split.
- Typical home value
- $772,473
- Typical rent
- $2,509
- Homes for sale
- 156
- Buyer competition
- 58
- New listings
- 38
- Homes going pending
- 24
- Listings with price cuts
- 31.2%
Price and rent in ZIP 98109
ZIP 98109 is around the 38th percentile of tracked local ZIPs for home value. ZIP 98109 is around the 86th percentile of tracked local ZIPs for rent.
ZIP 98109 home value & rent trend (past 12 months)
Typical home value fell 2.3% over the past 12 months, from $790,534 to $772,473. It rose in 5 of 11 monthly readings. The largest monthly gain was +0.2% in January 2026.
Typical rent fell 2.0% over the past 12 months, from $2,561 to $2,509. It rose in 5 of 11 monthly readings. The largest monthly gain was +0.6% in June 2026.
How ZIP 98109 compares to the metro
ZIP 98109's typical home value is 5.3% below the metro median of $815,787. ZIP 98109's typical rent is 10.1% above the metro median of $2,279. ZIP 98109's buyer competition is 9.4% above the metro median of 53.
How fast homes sell in ZIP 98109
Homes in ZIP 98109 typically go pending in about 50 days — about 52% slower than the metro median of 33 days.
Supply, pending activity, and competition
ZIP 98109 is around the 86th percentile of tracked local ZIPs for for-sale inventory. ZIP 98109 is around the 62nd percentile of tracked local ZIPs for buyer competition. 63 homes went pending for every 100 new listings in the current reading. Supply and buyer competition did not produce a clear easing or tightening split. Over the 12 readings on record, inventory moved between 82 and 156 — a 74-point spread across 21 comparable tracked ZIPs.
Nearby markets worth comparing
Relevant nearby ZIP pages include 98102, 98121, 98119, 98101.
Continue your market research
- Is Seattle Housing Market Cooling?Read the related local market analysis.
- Is Seattle a Buyer's Market?Read the related local market analysis.
- Compare 98109 vs 98101Compare this market with another tracked ZIP or peer group.
- Compare 98109 vs 98102Compare this market with another tracked ZIP or peer group.
- Compare 98109 vs top 5 ZIPsCompare this market with another tracked ZIP or peer group.
- ZIP 98102 housing marketReview a nearby local market with the same core measures.
- ZIP 98121 housing marketReview a nearby local market with the same core measures.
- ZIP 98119 housing marketReview a nearby local market with the same core measures.
- Seattle Metro housing market overviewReturn to the broader parent market.
98109 Housing Market Overview FAQ
What is the typical home value in ZIP 98109?
The typical home value in ZIP 98109 is $772,473 in the latest monthly reading.
What is the typical rent in ZIP 98109?
Typical rent in ZIP 98109 is $2,509 per month.
What is the home-value-to-rent ratio in ZIP 98109?
ZIP 98109 has a home-value-to-annual-rent ratio of 25.7.
Sources and method
- HomeMarketCap.com data sources: home value, rent, inventory, and market activity datasets
- HomeMarketCap.com methodology: definitions and calculation rules