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 $717,985, with a typical rent of $1,976 per month. That puts the local home-value-to-annual-rent ratio at 30.3.
Key stats
- ZIP 98118 is around the 24th percentile of tracked local ZIPs for home value.
- ZIP 98118 is around the 81st percentile of tracked local ZIPs for buyer competition.
- The market-level home-value-to-annual-rent ratio is 30.3.
- 78 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
- $717,985
- Typical rent
- $1,976
- Homes for sale
- 129
- Buyer competition
- 67
- New listings
- 40
- Homes going pending
- 31
- Listings with price cuts
- 34.9%
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 5th 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 $734,640 to $717,985. It rose in 6 of 11 monthly readings. The largest monthly gain was +0.3% in November 2025.
Typical rent rose 2.0% over the past 12 months, from $1,938 to $1,976. It rose in 5 of 11 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 10.1% below the Seattle median of $798,214. ZIP 98118's typical rent is 13.7% below the Seattle median of $2,290. ZIP 98118's buyer competition is 9.8% above the Seattle median of 61.
Supply, pending activity, and competition
ZIP 98118 is around the 62nd percentile of tracked local ZIPs for for-sale inventory. ZIP 98118 is around the 81st percentile of tracked local ZIPs for buyer competition. 78 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 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 by the HomeMarketCap.com team under our editorial policy. Spotted something wrong? Report a correction.