ZIP 98121 covers residential neighborhoods in Seattle, located within King County, WA, part of the broader Seattle housing market. The typical home value in ZIP 98121 in the Seattle housing market is $533,258, with a typical rent of $2,729 per month. That puts the local home-value-to-annual-rent ratio at 16.3.
Key stats
- ZIP 98121 is among the lowest of tracked local ZIPs for home value.
- ZIP 98121 is around the 14th percentile of tracked local ZIPs for buyer competition.
- The market-level home-value-to-annual-rent ratio is 16.3.
- 58 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
- $533,258
- Typical rent
- $2,729
- Homes for sale
- 191
- Buyer competition
- 41
- New listings
- 36
- Homes going pending
- 21
- Listings with price cuts
- 26.5%
Price and rent in ZIP 98121
ZIP 98121 is among the lowest of tracked local ZIPs for home value. ZIP 98121 is around the 95th percentile of tracked local ZIPs for rent.
ZIP 98121 home value & rent trend (past 12 months)
Typical home value fell 5.9% over the past 12 months, from $566,900 to $533,258. It rose in 1 of 11 monthly readings. The largest monthly gain was +0.1% in October 2025.
Typical rent fell 3.0% over the past 12 months, from $2,815 to $2,729. It rose in 4 of 11 monthly readings. The largest monthly gain was +0.9% in August 2026.
How ZIP 98121 compares to Seattle
ZIP 98121's typical home value is 33.2% below the Seattle median of $798,214. ZIP 98121's typical rent is 19.2% above the Seattle median of $2,290. ZIP 98121's buyer competition is 32.8% below the Seattle median of 61.
Supply, pending activity, and competition
ZIP 98121 is among the highest of tracked local ZIPs for for-sale inventory. ZIP 98121 is around the 14th percentile of tracked local ZIPs for buyer competition. 58 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 110 and 191 — a 81-point spread across 21 comparable tracked ZIPs.
Nearby markets worth comparing
Relevant nearby ZIP pages include 98101, 98104, 98109, 98119.
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 98101 housing marketReview a nearby local market with the same core measures.
- ZIP 98104 housing marketReview a nearby local market with the same core measures.
- ZIP 98109 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.