ZIP 98117 covers residential neighborhoods in Seattle, located within King County, WA, part of the broader Seattle housing market. The typical home value in ZIP 98117 in the Seattle housing market is $978,686, with a typical rent of $2,421 per month. That puts the local home-value-to-annual-rent ratio at 33.7.
Key stats
- ZIP 98117 is around the 71st percentile of tracked local ZIPs for home value.
- ZIP 98117 is around the 95th percentile of tracked local ZIPs for buyer competition.
- The market-level home-value-to-annual-rent ratio is 33.7.
- 79 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
- $978,686
- Typical rent
- $2,421
- Homes for sale
- 94
- Buyer competition
- 79
- New listings
- 47
- Homes going pending
- 37
- Listings with price cuts
- 24.7%
Price and rent in ZIP 98117
ZIP 98117 is around the 71st percentile of tracked local ZIPs for home value. ZIP 98117 is around the 76th percentile of tracked local ZIPs for rent.
ZIP 98117 home value & rent trend (past 12 months)
Typical home value rose 0.2% over the past 12 months, from $976,397 to $978,686. It rose in 6 of 11 monthly readings. The largest monthly gain was +0.7% in November 2025.
Typical rent rose 1.9% over the past 12 months, from $2,375 to $2,421. It rose in 7 of 11 monthly readings. The largest monthly gain was +1.1% in July 2026.
How ZIP 98117 compares to the metro
ZIP 98117's typical home value is 20.0% above the metro median of $815,787. ZIP 98117's typical rent is 6.2% above the metro median of $2,279. ZIP 98117's buyer competition is 49.1% above the metro median of 53.
How fast homes sell in ZIP 98117
Homes in ZIP 98117 typically go pending in about 17 days — about 48% faster than the metro median of 33 days.
Supply, pending activity, and competition
ZIP 98117 is around the 29th percentile of tracked local ZIPs for for-sale inventory. ZIP 98117 is around the 95th percentile of tracked local ZIPs for buyer competition. 79 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 56 and 94 — a 38-point spread across 21 comparable tracked ZIPs.
Nearby markets worth comparing
Relevant nearby ZIP pages include 98107, 98199, 98103, 98177.
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 98117 vs 98101Compare this market with another tracked ZIP or peer group.
- Compare 98117 vs 98102Compare this market with another tracked ZIP or peer group.
- Compare 98117 vs top 5 ZIPsCompare this market with another tracked ZIP or peer group.
- ZIP 98107 housing marketReview a nearby local market with the same core measures.
- ZIP 98199 housing marketReview a nearby local market with the same core measures.
- ZIP 98103 housing marketReview a nearby local market with the same core measures.
- Seattle Metro housing market overviewReturn to the broader parent market.
98117 Housing Market Overview FAQ
What is the typical home value in ZIP 98117?
The typical home value in ZIP 98117 is $978,686 in the latest monthly reading.
What is the typical rent in ZIP 98117?
Typical rent in ZIP 98117 is $2,421 per month.
What is the home-value-to-rent ratio in ZIP 98117?
ZIP 98117 has a home-value-to-annual-rent ratio of 33.7.
Sources and method
- HomeMarketCap.com data sources: home value, rent, inventory, and market activity datasets
- HomeMarketCap.com methodology: definitions and calculation rules