Real Estate Investing in Bellevue, Washington

Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.

5 ZIP codes • Population: 156,110 • King County

Compare Bellevue head-to-head with another city

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Should you buy in Bellevue, WA? Our answer, based on the numbers below.

🏠 For Homebuyers

CAUTION

Grade D (44/100)

Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.

📈 For Investors

WEAK

2.8 / 5 (44/100)

A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.

⚠️ Risks to Know

1 flag

Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.

What’s happening in Bellevue, WA?

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Investability

Citywide average

Appreciation

4.6% 5yr CAGR

Landlord Climate

Regulatory friendliness

🏦 30-yr Fixed Rate: 6.76% as of Sep 10 Source: Freddie Mac PMMS

Avg Investability ★★★★★

Avg Home Value $1,508,137

Avg Monthly Rent $3,161

ZIP Codes 5

Market Trends — Bellevue, WA

Home Value History

Rent History

Local Pulse Report

AI-researched developments and news for Bellevue, WA. Updated on demand as visitors ask.

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Growth & development in Bellevue, WA Updated 144 days ago

Bellevue sees significant new business openings and residential development, while some major tech companies are adjusting their office footprints.

✓ Opportunities

A two-phase, 491-unit residential development at 919 109th Avenue NE was approved in March 2026, including affordable housing units.
Numerous new retail and dining establishments, including SUKOSHI, Unique Green, Vessi, Aerie/Aerie + Offline, COS, State + Liberty, Game Show Battle Rooms, Sabine Cafe, and Sushi Tei, have recently opened or are opening…
Snowflake and OpenAI both opened offices in Bellevue in 2025, contributing to job growth.
The I-405/Renton to Bellevue Widening and Express Toll Lanes Project includes new auxiliary lanes and portions of the King County Eastrail.
Bellevue Utilities is actively constructing the Horizon View 2 Reservoir and Pump Station replacement, anticipated for completion by early 2026.

⚠ Concerns

Meta Platforms Inc. halted its planned office expansion in Bellevue's Spring District, giving up development rights to five sites in late 2025.
Amazon is laying off approximately 400 workers in Washington state, including 82 at the Factoria Square Mall Amazon Fresh location in Bellevue, due to store closures in January 2026.
Some businesses are relocating employees from Seattle to Bellevue due to increasing payroll taxes in Seattle, contributing to Seattle's high office vacancy rates in early 2026.

Bottom line: Bellevue is experiencing a surge in residential and commercial development and new business openings, though some major tech companies are scaling back office space.

Sources & references

Local news & events in Bellevue, WA Updated 144 days ago

Bellevue saw a significant drop in crime in 2025, while also making strides in reducing greenhouse gas emissions; however, affordability and housing remain top resident concerns.

✓ Opportunities

Bellevue experienced a 27% drop in overall reported crime and an unprecedented 33% decrease in property crimes in 2025 compared to 2024. — This significantly enhances residents' safety and security, reducing the likelihood of being victims of crime. Bellevue Police Department / KIRO 7 News
The Bellevue Police Department made 157 shoplifting arrests during its "Stop the Lift" holiday campaign in 2025, a collaboration with local businesses. — This initiative helps deter retail theft, protecting local businesses and contributing to a safer shopping environment. Bellevue Police Department / KIRO 7 News
Bellevue's greenhouse gas emissions fell by 4.6% between 2023 and 2024, continuing a decade-long downward trend. — This progress contributes to a healthier environment and a more sustainable future for residents, aligning with long-term environmental goals. EastLake News / BellevueWA.gov
The city launched the "Eastside Safe Streets Task Force" in 2026, partnering with Issaquah, Kirkland, and Redmond police to address reckless driving and street racing. — This collaborative effort aims to improve road safety and reduce disruptive activities in neighborhoods across the Eastside. KIRO 7 News / BellevueWA.gov
Bellevue offers numerous community events, including the Paws & Pride Dog Walk, Bellevue Family 4th, and Bellevue Arts Fair Weekend. — These events provide diverse opportunities for community engagement, cultural enrichment, and family-friendly recreation.

⚠ Concerns

Affordability and housing availability have become the dominant concerns for Bellevue voters in 2025, surpassing public safety. — Rising costs and limited housing options restrict residents' ability to live and thrive in the city, potentially leading to displacement. Bellevue Chamber VIBe Survey 2025
Bellevue's tree canopy decreased slightly from 39.6% to 39.3% between 2021 and 2023, representing a loss of about 70 acres. — Loss of tree canopy can negatively impact local air quality, stormwater management, and natural habitats, diminishing environmental benefits. EastLake News / BellevueWA.gov
A Shiga toxin-producing E. coli O157 outbreak in December 2025 was associated with Tokyo Stop Teriyaki in Bellevue, sickening five King County residents. — This outbreak posed a health risk to residents and highlights potential vulnerabilities in food safety. King County, Washington
Washington state is facing a growing budget shortfall, which could lead to cuts in public services or new taxes impacting Bellevue's economy and residents. — Potential budget cuts or new taxes could reduce funding for essential services and increase the cost of living or doing business in Bellevue. Bellevue Chamber of Commerce
Community members frequently raised concerns about behavioral health, citing long waitlists, lack of culturally competent providers, and stigma. — Limited access to affordable and appropriate mental health care restricts residents' ability to address critical health needs. City of Bellevue Human Services Needs Update

Bottom line: Bellevue is experiencing positive trends in crime reduction and environmental sustainability, but faces ongoing challenges with housing affordability and access to behavioral health services.

Sources & references

Schools in Bellevue, WA Updated 144 days ago

Bellevue School District faces budget cuts and enrollment shifts, yet maintains top state ranking and progresses on major facility projects.

✓ Opportunities

Bellevue School District was ranked the No. 1 best school district in Washington for 2026 by Niche for the third consecutive year. — This recognition highlights high-performing schools and a wide range of educational opportunities. Niche/BSD News
The Bellevue Discovery Family Partnership program launched in the 2025-2026 school year, offering flexible in-person and online learning options. — This program expands choices for families engaged in home-based education and alternative learning pathways. BSD News
Voters approved two renewal levies in February 2026, continuing funding for day-to-day operations, technology, and capital projects. — These levies ensure continued funding for essential staff, programs, student services, and facility maintenance. BSD News
The Evergreen Transition Program's new Net-Zero building was completed in August 2024, providing experiential learning for young adults with disabilities. — This new facility offers enhanced opportunities for independence in employment, education, and life skills for students with disabilities. BSD News
The district's K-12 enrollment totaled 19,096 students in January 2026, an increase of 86 students from the previous year. — Increased enrollment helps stabilize the district and allows for the maintenance of current programs and electives. BSD News

⚠ Concerns

Bellevue School District is implementing $20 million in spending reductions for the 2025-26 school year due to rising costs and inadequate state funding. — These cuts may impact various programs and services, including potential increases in class sizes and reductions in teaching staff. BSD News
The district has been placed on the state's financial warning list by the Office of the Superintendent of Public Instruction (OSPI). — This indicates a significant financial challenge requiring substantial budget adjustments and oversight. BSD News
The spending reduction plan for 2025-26 includes cutting approximately 30-40 elementary and secondary teaching positions. — This reduction in staff could lead to increased class sizes and potentially limit program offerings. Reddit/BSD Budget Proposal

Bottom line: Bellevue School District is actively managing financial challenges with budget cuts while continuing to invest in facilities and new learning programs.

Sources & references

Civic & policy in Bellevue, WA Updated 144 days ago

Bellevue has recently focused on increasing housing options through state mandates while facing new state-level tax increases and local debates over development character.

✓ Opportunities

On June 24, 2025, Bellevue City Council adopted ordinances to implement state House Bills 1110 and 1337, expanding housing types in residential areas. — This expands housing choices by allowing duplexes, cottage courts, and small apartment buildings in areas previously limited to single-family homes. Bellevue.gov
Effective July 1, 2025, Washington's HB 1337 allows homeowners to add up to two Accessory Dwelling Units (ADUs) per lot, with relaxed parking and reduced lot-size restrictions. — This provides more flexible design opportunities and creates additional living spaces for families, guests, or rental income. True Town Remodeling
On November 15, 2021, the City Council adopted Ordinance No. 6616, removing all limits on the number of unrelated people living in a residential unit. — This decision, driven by state law, provides new housing opportunities and flexibility for shared living arrangements. Bellevue.gov
On March 20, 2026, the City Council approved the Housing in Mixed-Use Areas (HOMA) land use code amendment to encourage more housing and increase affordability. — This initiative aims to create higher density, taller buildings, and remove obstacles to building more homes in mixed-use areas. Bellevue.gov

⚠ Concerns

On February 10, 2026, Bellevue City Council adopted an Interim Official Control on Main Street in Old Bellevue, adding requirements for new projects to protect existing character. — This temporarily restricts development flexibility and places a higher bar on proposals to remove facades older than 50 years. EastLake News
Washington State implemented a 9.9% capital gains tax on gains exceeding $1 million, effective January 1, 2025. — This increases the tax burden on high-income residents and investors, potentially impacting wealth management and investment decisions. Coldstream
Effective January 1, 2026, Washington State will impose a 0.5% surcharge on Business & Occupation (B&O) tax for businesses with over $250 million in Washington taxable income. — This increases the tax burden for large businesses, potentially affecting operational costs and economic competitiveness. Withum
The Bellevue City Council scaled back its initial ambitious middle housing proposal, reducing some housing options originally planned beyond state minimums. — This limits the potential for increased housing density and variety that was initially proposed for areas near transit and growth centers. The Urbanist

Bottom line: Bellevue is navigating state-mandated housing density increases while facing new state taxes and local efforts to manage development character.

Sources & references

AI-generated from public web sources. Always verify with official records. Not financial, legal, or investment advice.

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Landlord Ground Truth

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Property managers serving King County

Manage rentals here? List your business →

Alki Property Management

Seattle, WA

Alki Property Management LLC specializes in apartment rentals. summary from their website

Small multifamily

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Brink Property Management

Bellevue, WA

Brink Property Management offers residential property management and vacant home management services in Bellevue, providing marketing, tenant screening, rent collection, and maintenance. summary from their website

Single-familySmall multifamily

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Full Service Property Management

Seattle, WA

Full Service Property Management offers compassionate property management across Metro Seattle, including multi-family management, property marketing, and maintenance services. summary from their website

Single-familySmall multifamily

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See all 30 property managers in King County →

Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.

Avg Home Value

$1,508,137

Avg Monthly Rent

$3,161

1% Rule

✗ Below

Landlord Friendly (WA)

★☆☆☆☆

🎓 Colleges & Universities in Bellevue

1 College 11,472 Students 4,910 Off-Campus Renters

C+

Bellevue College

4-Year Public · 11,472 students

📍 ~4,910 students rent off-campus

Investor Insight: With 4,910 students living off-campus, Bellevue has substantial rental demand from the college population — typically stable, lease-renewing tenants.