King County Washington Residential Rent and Rental Statistics
The median monthly gross residential rent in King County WA was $1,736 in 2019 according to the Census ACS survey.1 Average gross rent in King County was $1,724 in 2019. The median rent more accurately depicts rental rates in the middle of the distribution of rents and is thus preferred in the analysis below. 2020 King County median and average rent data will be released in September of 2021.
Data is also available below for King County rental vacancy rates, King County rent as a percent of median income and the fraction of renters in King County.
Real Gross Rent in King County Washington (2019 dollars)2
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US Median Gross Rent | $1,097 | +1.86% | +6.82% |
| Washington Median Gross Rent | $1,359 | +1.42% | +14.39% |
| King County WA Median Gross Rent | $1,736 | +1.88% | +16.90% |
King County WA Real Gross Rent Trends
At $1,736, real median gross rent in King County was at its highest level in 2019 since the series began in 2005. At $1,724, real average gross rent in King County was at its highest level in 2019 since the series began in 2005.
Real Gross Rent: King County WA Median, King County WA Average, Washington Median, US Median
Real Gross Rent History for King County
| Date | US Median |
Washington Median |
King County WA Median |
King County WA Average |
|---|---|---|---|---|
| 2019 | $1,097 | $1,359 | $1,736 | $1,724 |
| 2018 | $1,077 | $1,340 | $1,704 | $1,713 |
| 2017 | $1,043 | $1,254 | $1,603 | $1,597 |
| 2016 | $1,027 | $1,188 | $1,485 | $1,526 |
| 2015 | $1,017 | $1,146 | $1,436 | $1,458 |
| 2014 | $986 | $1,090 | $1,295 | $1,351 |
| 2013 | $953 | $1,041 | $1,246 | $1,295 |
| 2012 | $940 | $1,015 | $1,180 | $1,262 |
| 2011 | $941 | $1,004 | $1,152 | $1,228 |
| 2010 | $955 | $1,015 | $1,158 | $1,240 |
| 2009 | $960 | $1,038 | $1,193 | $1,264 |
| 2007 | $927 | $959 | $1,094 | $1,169 |
| 2005 | $910 | $926 | $1,040 | $1,110 |
King County Rental Vacancy Rate
The rental vacancy rate is the fraction of homes for rent that are not occupied.3 In 2019 the rental vacancy rate for King County Washington was 4.13% according to Census ACS data.
Rental Vacancy Rate in King County Washington
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 5.97% | -0.18% | +0.08% |
| Washington | 4.31% | +0.37% | +1.08% |
| King County WA | 4.13% | +0.26% | +1.47% |
Trends in King County WA Rental Vacancy Rate
The rental vacancy rate in King County peaked in 2006 at 6.15%. Since then it has fallen by 2.02% to 4.13%. Data records for this series originated in 2005. From a 2014 post peak low of 2.55%, the rental vacancy rate has increased by 1.58%.
Rental Vacancy Rate: King County WA, Washington, US
Historical Rental Vacancy Rate data for King County
| Date | US | Washington | King County WA |
|---|---|---|---|
| 2019 | 5.97% | 4.31% | 4.13% |
| 2018 | 6.15% | 3.94% | 3.87% |
| 2017 | 6.18% | 3.68% | 3.50% |
| 2016 | 5.89% | 3.23% | 2.66% |
| 2015 | 5.85% | 3.27% | 2.61% |
| 2014 | 6.32% | 4.23% | 2.55% |
| 2013 | 6.49% | 4.65% | 3.30% |
| 2012 | 6.77% | 5.30% | 4.10% |
| 2011 | 7.40% | 5.59% | 4.61% |
| 2010 | 8.17% | 5.80% | 5.15% |
| 2009 | 8.43% | 5.98% | 5.04% |
| 2007 | 7.87% | 4.83% | 3.63% |
| 2005 | 7.74% | 5.74% | 6.04% |
Rent as a Fraction of Income
Using median household income data for King County, we can calculate the fraction of income the median household would use to pay rent at the median monthly gross rent rate. For King County, median monthly gross rent as a fraction of median household income was 20.31% in 2019 according to the ACS.
King County Washington Median Annual Rent as a Fraction of Median Household Income
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 20.03% | -0.47% | -0.40% |
| Washington | 20.73% | -0.59% | +0.43% |
| King County WA | 20.31% | -0.84% | +0.54% |
Trends in King County WA Rent as a Fraction of Income
The fraction of median King County household income required to pay median monthly gross rent peaked in 2018 (relative to the 2005 series origin) at 21.14%. Since then it has fallen by 0.84% to 20.31%.
Fraction of Income towards Rent: King County WA, Washington, US
Historical Data for Annual Rent as a Fraction of Income in King County Washington
| Date | US | Washington | King County WA |
|---|---|---|---|
| 2019 | 20.03% | 20.73% | 20.31% |
| 2018 | 20.50% | 21.32% | 21.14% |
| 2017 | 20.13% | 20.56% | 20.81% |
| 2016 | 20.43% | 20.30% | 19.76% |
| 2015 | 20.63% | 20.21% | 19.83% |
| 2014 | 20.89% | 20.18% | 19.42% |
| 2013 | 20.78% | 20.32% | 19.76% |
| 2012 | 20.65% | 19.88% | 19.27% |
| 2011 | 20.70% | 19.64% | 18.62% |
| 2010 | 20.50% | 19.59% | 18.79% |
| 2009 | 20.12% | 19.33% | 18.53% |
| 2007 | 18.66% | 17.61% | 16.67% |
| 2005 | 18.89% | 18.05% | 17.10% |
Renter Fraction in King County Washington
You can calculate the renter fraction in King County in at least two ways: by housing units or by population. I've gone with the housing units measure here. This measure looks at the number of renting households in King County as a fraction of total King County households. In 2019 43.71% of households were renters according to Census ACS data.
King County Fraction of Renters by Household Units
| 2019 | 1 Year Change | 3 Year Change | |
|---|---|---|---|
| US | 35.89% | -0.16% | -0.99% |
| Washington | 36.92% | -0.26% | -0.61% |
| King County WA | 43.71% | -0.33% | +0.52% |
Trends in the King County WA Renter Fraction
The King County household renter fraction peaked in in 2018 at 44.04% and is now 0.33% below that level. The origin year for the series is 2005.
Fraction of Renting Households: King County WA, Washington, US
History of King County Renter Fraction
| Date | US | Washington | King County WA |
|---|---|---|---|
| 2019 | 35.89% | 36.92% | 43.71% |
| 2018 | 36.05% | 37.18% | 44.04% |
| 2017 | 36.13% | 37.21% | 43.42% |
| 2016 | 36.88% | 37.53% | 43.19% |
| 2015 | 36.97% | 37.58% | 41.97% |
| 2014 | 36.90% | 38.25% | 42.97% |
| 2013 | 36.50% | 38.06% | 43.51% |
| 2012 | 36.09% | 37.67% | 43.10% |
| 2011 | 35.42% | 37.18% | 42.51% |
| 2010 | 34.65% | 36.90% | 41.89% |
| 2009 | 34.13% | 35.70% | 39.77% |
| 2007 | 32.80% | 33.93% | 37.73% |
| 2005 | 33.10% | 35.34% | 38.84% |
1. Gross rent is defined as contract rent plus the estimated average monthly cost of utilities (electricity, gas, water, and sewer) and fuel (oil, coal, kerosene, wood, etc.). Because some rentals include utilities and others don't, gross rent is a way of normalizing the variability. ↩
2. Real dollars are calculated using the CPI-U less shelter series. ↩
3. The rental vacancy rate is computed by dividing the number of vacant units for rent by the sum of the renter-occupied units, vacant units that are for rent, and vacant units that have been rented but not yet occupied. ↩
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