Downtown Bellevue, WA
April 2026
98004,98005
Long-term Rental Rates
Apartment
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $2,399 – $2,678 | -2.03% | -2.18% |
| 2-Bedroom | $3,116 – $3,479 | 1.69% | 2.85% |
| 3-Bedroom | $3,523 – $3,894 | 0.17% | 1.20% |
| 4-Bedroom | $4,429 – $4,666 | 0.34% | 1.63% |
Condo/Townhome
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $2,549 – $2,707 | 0.01% | -0.24% |
| 2-Bedroom | $3,025 – $3,357 | 2.54% | -3.06% |
| 3-Bedroom | $3,678 – $3,945 | 2.17% | 1.71% |
| 4-Bedroom | $4,425 – $4,652 | 0.34% | 0.89% |
Single-Family
| Unit Type | Price | 1 Mo Change | 1 Yr Change |
|---|---|---|---|
| 1-Bedroom | $2,731 – $2,853 | 0.02% | 3.28% |
| 2-Bedroom | $3,088 – $3,286 | 0.47% | 3.55% |
| 3-Bedroom | $3,903 – $4,187 | 0.94% | 1.27% |
| 4-Bedroom | $4,308 – $4,761 | -2.74% | -1.56% |
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.