ZIP 98115 covers residential neighborhoods in Seattle, located within King County, WA, part of the broader Seattle housing market. The typical home value in ZIP 98115 in the Seattle housing market is $1,049,521, with a typical rent of $2,360 per month. That puts the local home-value-to-annual-rent ratio at 37.1.
Key stats
- ZIP 98115 is around the 86th percentile of tracked local ZIPs for home value.
- ZIP 98115 is around the 76th percentile of tracked local ZIPs for buyer competition.
- The market-level home-value-to-annual-rent ratio is 37.1.
- 75 homes went pending for every 100 new listings in the current reading.
- Supply increased while buyer competition eased.
- Typical home value
- $1,049,521
- Typical rent
- $2,360
- Homes for sale
- 161
- Buyer competition
- 63
- New listings
- 69
- Homes going pending
- 52
- Listings with price cuts
- 25.9%
Price and rent in ZIP 98115
ZIP 98115 is around the 86th percentile of tracked local ZIPs for home value. ZIP 98115 is around the 62nd percentile of tracked local ZIPs for rent.
ZIP 98115 home value & rent trend (past 12 months)
Typical home value fell 0.6% over the past 12 months, from $1,056,010 to $1,049,521. It rose in 6 of 11 monthly readings. The largest monthly gain was +0.5% in November 2025.
Typical rent rose 2.1% over the past 12 months, from $2,312 to $2,360. It rose in 6 of 11 monthly readings. The largest monthly gain was +1.4% in April 2026.
How ZIP 98115 compares to the metro
ZIP 98115's typical home value is 28.7% above the metro median of $815,787. ZIP 98115's typical rent is 3.6% above the metro median of $2,279. ZIP 98115's buyer competition is 18.9% above the metro median of 53.
How fast homes sell in ZIP 98115
Homes in ZIP 98115 typically go pending in about 26 days — about 21% faster than the metro median of 33 days.
Supply, pending activity, and competition
ZIP 98115 is around the 90th percentile of tracked local ZIPs for for-sale inventory. ZIP 98115 is around the 76th percentile of tracked local ZIPs for buyer competition. 75 homes went pending for every 100 new listings in the current reading. Supply increased while buyer competition eased. Over the 12 readings on record, inventory moved between 76 and 161 — a 85-point spread across 21 comparable tracked ZIPs.
Nearby markets worth comparing
Relevant nearby ZIP pages include 98105, 98125, 98195, 98103.
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 98115 vs 98101Compare this market with another tracked ZIP or peer group.
- Compare 98115 vs 98102Compare this market with another tracked ZIP or peer group.
- Compare 98115 vs top 5 ZIPsCompare this market with another tracked ZIP or peer group.
- ZIP 98105 housing marketReview a nearby local market with the same core measures.
- ZIP 98125 housing marketReview a nearby local market with the same core measures.
- ZIP 98195 housing marketReview a nearby local market with the same core measures.
- Seattle Metro housing market overviewReturn to the broader parent market.
98115 Housing Market Overview FAQ
What is the typical home value in ZIP 98115?
The typical home value in ZIP 98115 is $1,049,521 in the latest monthly reading.
What is the typical rent in ZIP 98115?
Typical rent in ZIP 98115 is $2,360 per month.
What is the home-value-to-rent ratio in ZIP 98115?
ZIP 98115 has a home-value-to-annual-rent ratio of 37.1.
Sources and method
- HomeMarketCap.com data sources: home value, rent, inventory, and market activity datasets
- HomeMarketCap.com methodology: definitions and calculation rules