ZIP 98118 covers residential neighborhoods in Seattle, located within King County, WA, part of the broader Seattle housing market. The typical home value in ZIP 98118 in the Seattle housing market is $734,729, with a typical rent of $2,007 per month. That puts the local home-value-to-annual-rent ratio at 30.5.
Key stats
- ZIP 98118 is around the 24th percentile of tracked local ZIPs for home value.
- ZIP 98118 is around the 86th percentile of tracked local ZIPs for buyer competition.
- The market-level home-value-to-annual-rent ratio is 30.5.
- 79 homes went pending for every 100 new listings in the current reading.
- Supply increased while buyer competition eased.
- Typical home value
- $734,729
- Typical rent
- $2,007
- Homes for sale
- 135
- Buyer competition
- 66
- New listings
- 47
- Homes going pending
- 37
- Listings with price cuts
- 31.7%
Price and rent in ZIP 98118
ZIP 98118 is around the 24th percentile of tracked local ZIPs for home value. ZIP 98118 is around the 10th percentile of tracked local ZIPs for rent.
ZIP 98118 home value & rent trend (past 12 months)
Typical home value fell 2.3% over the past 12 months, from $751,668 to $734,729. It rose in 6 of 11 monthly readings. The largest monthly gain was +0.3% in November 2025.
Typical rent rose 2.1% over the past 12 months, from $1,966 to $2,007. It rose in 6 of 11 monthly readings. The largest monthly gain was +2.9% in June 2026.
How ZIP 98118 compares to the metro
ZIP 98118's typical home value is 9.9% below the metro median of $815,787. ZIP 98118's typical rent is 11.9% below the metro median of $2,279. ZIP 98118's buyer competition is 24.5% above the metro median of 53.
How fast homes sell in ZIP 98118
Homes in ZIP 98118 typically go pending in about 37 days — about 12% slower than the metro median of 33 days.
Supply, pending activity, and competition
ZIP 98118 is around the 71st percentile of tracked local ZIPs for for-sale inventory. ZIP 98118 is around the 86th percentile of tracked local ZIPs for buyer competition. 79 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 79 and 135 — a 56-point spread across 21 comparable tracked ZIPs.
Nearby markets worth comparing
Relevant nearby ZIP pages include 98108, 98040, 98144, 98178.
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 98118 vs 98101Compare this market with another tracked ZIP or peer group.
- Compare 98118 vs 98102Compare this market with another tracked ZIP or peer group.
- Compare 98118 vs top 5 ZIPsCompare this market with another tracked ZIP or peer group.
- ZIP 98108 housing marketReview a nearby local market with the same core measures.
- ZIP 98040 housing marketReview a nearby local market with the same core measures.
- ZIP 98144 housing marketReview a nearby local market with the same core measures.
- Seattle Metro housing market overviewReturn to the broader parent market.
98118 Housing Market Overview FAQ
What is the typical home value in ZIP 98118?
The typical home value in ZIP 98118 is $734,729 in the latest monthly reading.
What is the typical rent in ZIP 98118?
Typical rent in ZIP 98118 is $2,007 per month.
What is the home-value-to-rent ratio in ZIP 98118?
ZIP 98118 has a home-value-to-annual-rent ratio of 30.5.
Sources and method
- HomeMarketCap.com data sources: home value, rent, inventory, and market activity datasets
- HomeMarketCap.com methodology: definitions and calculation rules