Puget Sound Multifamily Figures Report Q2 2026

 — The Seattle multifamily market closed Q2 2026 with an occupancy rate of 95.4%. This represented a 0.50% increase from 94.9% in Q1 2026.

— Positive net absorption grew to 4,034 units in Q2 2026, nearly doubled from the 2,161 units of positive net absorption in Q1 2026.

— 1,873 units were delivered in Q2 2026, amounting to a total of 320 more units of new construction deliveries compared to the 1,553 units that were delivered in Q1 2026.

— The overall average rent per unit per month in Seattle ended Q2 2026 at $2,250, an increase of 1.6% quarter-over-quarter (QoQ).

— Total multifamily investment sales in Q2 2026 amounted to $526.9 million in total volume, a moderate decrease from the $572.4 million recorded in Q1 2026.