Redmond Rental Market 2026: What Owners Should Know

The Redmond rental market enters 2026 as the strongest in the Seattle metro. The citywide median rent stands at $2,324 per Apartment List's August 2026 Redmond Rent Report, up 2.3 percent year over year while the metro as a whole is down 1.2 percent, the fastest rent growth of any city in the region. Demand rests on the Microsoft headquarters campus and on a light rail line that now runs from Downtown Redmond across Lake Washington to Seattle. For owners, 2026 is a year of real pricing power, exercised within Washington State's rent cap and Redmond's own notice rules.

Redmond, Washington is home to 77,353 people per U.S. Census Bureau American Community Survey estimates (2024), and about 57 percent of its occupied homes are rented. That is a renter-majority city with one of the best-paid tenant pools in Washington State. Here is what the verified numbers say for owners.

How Are Redmond Rents Trending in 2026?

Two independent sources, both pulled August 2026, tell the same story from different angles:

• Apartment List (August 2026 Redmond Rent Report): citywide median rent $2,324, essentially flat over the past month at 0.2 percent and up 2.3 percent year over year. Seven months into 2026, Redmond rents have risen 6.5 percent, and the report calls Redmond the fastest-growing city in the Seattle metro.
• Zumper (August 2026, current listing data): a one bedroom in Redmond lists at $2,346, up 8 percent year over year; a two bedroom at $3,026, up 5 percent.

Redmond rents are rising in a metro that is flat to falling, and asking rents on new listings are rising fastest.

For context, Apartment List's August 2026 metro table puts the Seattle metro median at $2,015, so Redmond sits 15.3 percent above it. The University of Washington's Washington Center for Real Estate Research put King County's average apartment rent at $2,095 in its Q4 2025 report, the highest of any county in the state, and Kidder Mathews' first-quarter 2026 data (published May 2026) shows East King County as the region's priciest submarket at a $2,571 average rent.

What About Vacancy in Redmond?

No source publishes a Redmond-only vacancy rate, so use the regional reads, labeled for what they are:

• Kidder Mathews (Q1 2026 data, published May 2026): East King County apartment vacancy held steady year over year at 6.6 percent.
• Kidder Mathews (Q2 2026 Seattle Multifamily Market Report): Seattle-area multifamily vacancy of 6.7 percent, down from 7.0 percent a year earlier.
• UW Washington Center for Real Estate Research (Q4 2025): Puget Sound region apartment vacancy of 6.0 percent.

Those figures skew toward large apartment communities. A well-presented house or townhome in Redmond faces less direct competition than the regional vacancy numbers suggest.

New apartment supply is concentrated where the city has planned it: Downtown Redmond, Overlake Village, and Marymoor Village, the station areas where Redmond's multifamily tax exemption program under RMC 3.38 also places rent-limited MFTE units. Own near a station and those buildings are your comparable set.

What Is Powering Rental Demand in Redmond?

Redmond's tenant pool is anchored by employers that pay well and hire on relocation timelines:

• The Microsoft headquarters campus. Microsoft's global headquarters sits in Redmond's Overlake area, and it remains the city's dominant employer. New hires and transfers routinely rent for a year or more before buying, and they arrive on start dates they do not control.
• The wider Eastside tech cluster. Kidder Mathews' mid-2026 reporting notes a continued net influx of tech jobs to the Eastside, with Bellevue, Redmond, and Kirkland absorbing roles that shift across the lake from Seattle.
• Light rail. The 2 Line now connects Downtown Redmond to Seattle, which widens the pool of renters for whom a Redmond address works. More on that below.

Redmond's median household income is $162,560 per the 2024 American Community Survey estimates. Well-qualified applicants are the norm here when a listing is priced and presented correctly.

What Does the 2 Line Mean for Redmond Owners?

Redmond's transit story changed twice in fifteen months, and both changes are now operating fact:

• May 10, 2025: the Downtown Redmond Link extension opened, per Sound Transit, adding 3.4 miles and two stations, Marymoor Village and Downtown Redmond, with trains every 10 minutes, 16 hours a day.
• March 28, 2026: Sound Transit opened the 2 Line's Crosslake Connection across Lake Washington. The full 2 Line now runs from Downtown Redmond through Bellevue, across the lake via Mercer Island and Judkins Park, into downtown Seattle and north to Lynnwood.

If your rental sits within a comfortable walk of a 2 Line station, say so in the first line of your listing. Future service changes remain plans that can move, so market the service that runs today.

Which Redmond Neighborhoods and Unit Types Are in Demand?

Demand splits by housing stock and commute, so match your marketing to what your property is:

• Downtown Redmond: newer apartments and condos in a walkable core, now with the light rail terminus, restaurants, and the Redmond Central Connector trail. Renters here trade square footage for location.
• Overlake: apartments, condos, and townhomes closest to the Microsoft campus and Redmond Technology Station. A commute measured in minutes on foot or one train stop is the selling point.
• Marymoor Village: the city's newest station area, next to Marymoor Park and the Sammamish River Trail. New buildings dominate, so an individually owned condo or townhome competes on character and value against lease-up specials.
• Education Hill and North Redmond: established single-family houses with yards and garages. Whole-house renters concentrate here, and true house rentals are scarce relative to demand.

The unit type in demand is the one that fits the commute: apartments and condos near the stations, houses and townhomes in the established neighborhoods.

How Do ADU Rules Shape the Redmond Rental Market?

Redmond has one of the more permissive accessory dwelling unit codes in Washington State. Under RZC 21.04.1110, a residential lot may carry up to two ADUs or tiny homes of up to 1,000 square feet each, there is no owner-occupancy requirement, and long-term rental of an ADU is allowed.

For owners, that cuts two ways:

• As product: a backyard cottage or basement ADU can be operated as a legitimate long-term rental, and small, well-located units fit the one-person tech households this market attracts.
• As competition: the same rules mean more small units entering the rental pool over time, so a dated in-law suite competes with purpose-built ADUs.

If your Redmond lot has room for an ADU, the zoning is on your side; verify current requirements with the City of Redmond before building.

What Do the 2026 Rules Mean for Redmond Rent Pricing?

This is information, not legal advice; talk to your attorney about your specific lease. Two layers of law shape 2026 pricing in Redmond:

• Washington State's rent stabilization law (RCW 59.18.700) caps most residential rent increases. The Washington State Department of Commerce set the cap at 9.683 percent for 2026 and 10 percent for 2027, for tenancies covered by the law.
• Redmond's own notice tiers (RMC 9.54.030) sit on top: an increase over 3 percent requires 120 days' written notice, and over 10 percent requires 180 days. Since the state cap generally keeps covered tenancies under 10 percent anyway, the practical rule is simple: any meaningful increase needs 120 days' notice, so decide four months before the lease ends.

Redmond also caps combined move-in fees and deposits at one month's rent with installment rights (RMC 9.54.040). On the other side of the ledger, Redmond runs no rental registration or inspection program, and a landlord with four or fewer long-term units at one location does not need a city business license (RMC 5.04.130). Most 2026 renewals will land well inside the cap; the constraint that actually bites is the calendar, not the ceiling.

How Should Redmond Owners Price and Operate in 2026?

A strong market rewards owners who do not coast on it:

• Price to this month's listings, not last year's lease. Zumper's one bedroom asking rents rose 8 percent year over year; a unit priced off a 2024 lease is leaving money on the table.
• Start renewal decisions 120 days out. Redmond's notice tier turns renewal into a planning exercise; owners who decide late default to no increase at all.
• Lead with the commute in your listing. Name the Microsoft campus, the nearest 2 Line station, or SR 520 by drive time. Those anchors are what this applicant pool searches for.
• Present at the level of the competition. The newest station-area buildings set the bar; professional photos and a complete listing are the price of entry, even for a house.
• Protect the tenancy you have. A good resident renewing at a fair number usually beats weeks of vacancy chasing the last dollar.

Putting a former residence on the rental market for the first time? Our guide to renting out your home in Redmond walks through the steps in order. Owners weighing nearby markets can compare notes with the Kirkland rental market 2026 outlook.

Common Questions from Redmond Owners

What Is the Average Rent in Redmond, Washington in 2026?

Apartment List's August 2026 Redmond Rent Report puts the citywide median rent at $2,324. Zumper's August 2026 listing data shows a median one bedroom at $2,346 and a two bedroom at $3,026. A single-family rental house typically sits above the apartment medians.

Are Redmond Rents Going Up or Down in 2026?

Up. Apartment List's August 2026 report shows Redmond up 2.3 percent year over year and up 6.5 percent through the first seven months of 2026, the fastest growth of any city in the Seattle metro, while the metro overall is down 1.2 percent. Zumper's August 2026 listing data shows one bedroom asking rents up 8 percent year over year.

How Much Can I Raise the Rent on a Redmond Rental in 2026?

Washington State's cap under RCW 59.18.700 governs the amount: the Department of Commerce set it at 9.683 percent for 2026 and 10 percent for 2027, for tenancies covered by the law. Redmond adds notice tiers under RMC 9.54.030: an increase over 3 percent requires 120 days' written notice, and over 10 percent requires 180 days, though the state cap generally keeps covered tenancies below that level. This is information, not legal advice.

Does Redmond Have Light Rail to Seattle?

Yes. The Downtown Redmond Link extension opened May 10, 2025, adding the Marymoor Village and Downtown Redmond stations, and the 2 Line's Crosslake Connection opened March 28, 2026, per Sound Transit. The line now runs from Downtown Redmond across Lake Washington into downtown Seattle and north to Lynnwood.

How Sagareus Handles Leasing and Marketing

A vacant home is won or lost on speed and presentation, so we treat both as disciplines, not hopes. Every day a unit sits empty is income the owner never gets back, and the listing that responds first and looks best is the one that fills. Here is how we run it:

• Respond to every lead fast, within minutes. The first responder usually wins the showing, so inquiries get a real answer right away, not whenever someone gets to them. Every showing is scheduled and accompanied by our team.
• Professional photos and a standards-based listing, no exceptions. Real photography, an accurate description, and complete amenities. We do not cut this corner, because a weak listing quietly costs weeks of vacancy.
• Price to the market, then adjust on activity, not ego. We set the opening rent from current comparable rentals and your priorities, then watch inquiries and showings against pre-planned checkpoints and move when the data says to.

You set the goal, whether that leans toward top rent or fastest occupancy. We bring the market read, run the system, and report the numbers every week until the lease is signed.

Speed and presentation are not luck. They are how we shorten your vacancy.

Curious what full-service Redmond property management with Sagareus Property Management would cost for your rental? Our instant calculator gives you a real range in under a minute, no email required. Request your instant estimate.

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