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 last 11 months, from $751,935 to $734,729. It rose in 5 of 10 monthly readings. The largest monthly gain was +0.3% in November 2025.
Typical rent rose 2.0% over the last 11 months, from $1,968 to $2,007. It rose in 5 of 10 monthly readings. The largest monthly gain was +2.9% in June 2026.
How ZIP 98118 compares to Seattle
ZIP 98118's typical home value is 9.9% below the Seattle median of $815,787. ZIP 98118's typical rent is 11.9% below the Seattle median of $2,279. ZIP 98118's buyer competition is 24.5% above the Seattle 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 11 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, 98144, 98106, 98126.
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 98108 housing marketReview a nearby local market with the same core measures.
- ZIP 98144 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 under our editorial policy. Spotted something wrong? Report a correction.