Figures

Puget Sound Multifamily Figures Report Q3 2026

November 6, 2026 7 Minute Read

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  • The Seattle multifamily market closed Q3 2026 with an occupancy rate of 95.1%, a marginal 10 basis-point (bps) decline from 95.2% in Q2 2026.

  • Deliveries reached 2,578 units, up from 2,189 units in Q2 2026, and continued a steady trend of new construction supply.

  • Net absorption reached 1,945 units in Q3 2026, up 139% year-over-year (YoY) despite a quarter-over-quarter (QoQ) decline from a recent high in Q2 2026.

  • The average monthly rent per unit in Seattle ended Q3 2026 at $2,265, up 0.5% from Q2 2026, a difference of roughly $10 per unit per month.

  • Investment sales rose to $1.5 billion in Q3 2026, up from $570.4 million in Q2 2026, marking the strongest quarter for transaction volume since Q4 2025.