Downtown Bellevue, WA
August 2026
98004,98005
Long-term Rental Rates
Apartment
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $2,508 – $2,800 | 0.29% | 0.58% |
| 2-Bedroom | $3,208 – $3,581 | 0.19% | 4.62% |
| 3-Bedroom | $3,238 – $3,615 | -9.51% | -9.50% |
| 4-Bedroom | $4,660 – $4,882 | 1.07% | 0.91% |
Condo/Townhome
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $2,561 – $2,720 | 4.12% | -2.90% |
| 2-Bedroom | $2,991 – $3,221 | -1.14% | -4.10% |
| 3-Bedroom | $3,348 – $3,664 | -2.15% | -7.48% |
| 4-Bedroom | $4,634 – $4,865 | 0.75% | 0.24% |
Single-Family
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $2,731 – $2,900 | 4.59% | 0.05% |
| 2-Bedroom | $2,951 – $3,178 | 3.18% | -4.69% |
| 3-Bedroom | $4,021 – $4,445 | -0.01% | 0.93% |
| 4-Bedroom | $4,276 – $4,792 | -7.98% | -5.50% |
In the Downtown Bellevue (98004, 98005) rental market, 1-bedroom apartments posted a median rent of $2,538 in April 2026, down -2.18% year-over-year and -2.03% month-over-month. This signals a downturn for entry-level apartment rentals compared to prior months.
Median rent for 2-bedroom condo/townhomes in Downtown Bellevue (98004, 98005) reached $3,191, which is $107 below 2-bedroom apartments at $3,298. Although condo/townhomes increased 2.54% MoM, their YoY change was a -3.06% drop, indicating lagging performance versus apartments.
Rental demand for 1-bedroom single-family homes increased, as Downtown Bellevue (98004, 98005) rental trends show this segment at $2,752—registering a 3.28% rise year-over-year and outpacing 1BR apartments by $214 in April 2026.