Real Estate Investing in Bellevue, Washington (98006)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98006 (Bellevue, WA)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 37.0 — hard to cash-flow at these prices.
What’s happening in Bellevue, WA (98006)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98006 Bellevue
From a cash-flow lens, ZIP 98006 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $1.6M median. It rewards specialists, not generalists.
Rent of $3,630/mo on a $1.6M basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 98006 sits below the stated 0.0% once reality is priced in.
Regionally, 98006 sits on the difficult end of the WA spectrum. The an appealing option for read — for disciplined operators — is that pricing reflects the difficulty.
The demographic picture in 98006 includes headwinds that any investor should price in. Income distribution skews lower than Bellevue averages, and tenant stability requires active management.
tilts toward the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Bellevue:
Property Strategy for 98006
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $360,016 | $3,050 | 6.1% | +3.0% | $360,016 |
| 2BR | $544,513 | $3,560 | 4.7% | +3.2% | $272,257 |
| 3BR | $1,338,425 | $4,660 | 2.5% | +8.7% | $446,142 |
| 4BR | $1,792,068 | $5,480 | 2.2% | +9.4% | $448,017 |
| 5BR | $2,114,084 | — | — | +9.3% | $422,817 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98006 Compare?
| Metric | 98006 | Bellevue | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $1,611,239 | $1,508,137 | N/A | $591,536 |
| 5-Year CAGR | 5.3% | 4.6% | N/A | 5.9% |
| Avg Rent | $3,630 | $3,161 | N/A | - |
| Cap Rate | 1.8% | 1.7% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98006 (Bellevue, WA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 98006 (Bellevue, WA)?
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Property managers serving King County
Manage rentals here? List your business →Alki Property Management LLC specializes in apartment rentals. summary from their website
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
Full Service Property Management offers compassionate property management across Metro Seattle, including multi-family management, property marketing, and maintenance services. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $1,611,239 |
| Monthly Rent | $3,630 |
| Price-to-Rent | 37.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.7% |
| Cap Rate | 1.8% |
| 5-Year IRR | 7.1% |
📈 Home Appreciation
| 1-Year | -1.2% ▼ |
| 3-Year CAGR | +4.5% ▲ |
| 5-Year CAGR | +5.3% ▲ |
| 10-Year CAGR | +8.1% ▲ |
🏠 Rent Trends
| 1-Year | +0.5% ▲ |
| 3-Year CAGR | +3.9% ▲ |
| 5-Year CAGR | +4.7% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.8%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 98006
Population: 40,770
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 98006
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 6,440 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are there empty rentals in Bellevue, WA?
Vacancy in Bellevue, WA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $3,630/mo.
Are eviction rules reasonable in Bellevue, WA?
Bellevue, WA falls under WA landlord-tenant law, which is tenant-protective. That backdrop makes day-to-day property management reasonable.
Is it easy to find good tenants in Bellevue, WA?
Tenant demand in Bellevue, WA is solid. The local workforce $3,630/mo rents across most rental classes.
How viable is house hacking in Bellevue, WA?
House hacking in Bellevue, WA is a tougher. With home values around $1.6M and rents at $3,630/mo, owner-occupants can offset a meaningful share of PITI.
Where do home prices stand in Bellevue, WA?
Bellevue, WA home values average about $1.6M. That price point suits investors targeting rentals with $3,630/mo in monthly income.
You know 98006 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98006 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 98006 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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