ZIP 98116 covers residential neighborhoods in Seattle, located within King County, WA, part of the broader Seattle housing market. The typical home value in ZIP 98116 in the Seattle housing market is $976,154, with a typical rent of $2,272 per month. That puts the local home-value-to-annual-rent ratio at 35.8.
Key stats
- ZIP 98116 is around the 76th percentile of tracked local ZIPs for home value.
- ZIP 98116 is around the 90th percentile of tracked local ZIPs for buyer competition.
- The market-level home-value-to-annual-rent ratio is 35.8.
- 81 homes went pending for every 100 new listings in the current reading.
- Supply contracted while buyer competition strengthened.
- Typical home value
- $976,154
- Typical rent
- $2,272
- Homes for sale
- 89
- Buyer competition
- 74
- New listings
- 31
- Homes going pending
- 25
- Listings with price cuts
- 32.8%
Price and rent in ZIP 98116
ZIP 98116 is around the 76th percentile of tracked local ZIPs for home value. ZIP 98116 is around the 43rd percentile of tracked local ZIPs for rent.
ZIP 98116 home value & rent trend (past 12 months)
Typical home value fell 0.2% over the past 12 months, from $978,245 to $976,154. It rose in 7 of 11 monthly readings. The largest monthly gain was +0.5% in November 2025.
Typical rent rose 1.9% over the past 12 months, from $2,230 to $2,272. It rose in 6 of 11 monthly readings. The largest monthly gain was +1.2% in July 2026.
How ZIP 98116 compares to Seattle
ZIP 98116's typical home value is 22.3% above the Seattle median of $798,214. ZIP 98116's buyer competition is 21.3% above the Seattle median of 61.
How fast homes sell in ZIP 98116
Homes in ZIP 98116 typically go pending in about 30 days — about 9% faster than the metro median of 33 days.
Supply, pending activity, and competition
ZIP 98116 is around the 24th percentile of tracked local ZIPs for for-sale inventory. ZIP 98116 is around the 90th percentile of tracked local ZIPs for buyer competition. 81 homes went pending for every 100 new listings in the current reading. Supply contracted while buyer competition strengthened. Over the 12 readings on record, inventory moved between 49 and 95 — a 46-point spread across 21 comparable tracked ZIPs.
Nearby markets worth comparing
Relevant nearby ZIP pages include 98126, 98136, 98106, 98121.
Continue your market research
- Is the Seattle Real Estate Market Cooling or Slowing Down?Read the related local market analysis.
- Is Seattle a Buyer's Market?Read the related local market analysis.
- All Seattle ZIP comparisonsCompare this market with another tracked ZIP or peer group.
- ZIP 98126 housing marketReview a nearby local market with the same core measures.
- ZIP 98136 housing marketReview a nearby local market with the same core measures.
- ZIP 98106 housing marketReview a nearby local market with the same core measures.
- Seattle housing market overviewReturn to the broader parent market.
Sources and method
- HomeMarketCap.com data sources: home value, rent, inventory, and market activity datasets
- HomeMarketCap.com methodology: definitions and calculation rules
Figures are updated monthly by the HomeMarketCap.com team under our editorial policy. Spotted something wrong? Report a correction.