Real Estate Investing in Seattle, Washington (98103)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98103 (Seattle, WA)? Our answer, based on the numbers below.
Multiple negative signals. Better options likely exist nearby.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Flat appreciation: Values have barely moved over 5 years (1.3% CAGR).
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 33.6 — hard to cash-flow at these prices.
What’s happening in Seattle, WA (98103)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98103 Seattle
On balance, ZIP 98103 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $910K median. It rewards specialists, not generalists.
For an experienced owner, 98103 can be a a viable market for hunting ground — but the discount at $910K reflects genuine risk that outside investors often underestimate.
ZIP 98103's metrics run below King County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Employment concentration in 98103 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Distressed ZIPs reward experience. solid returns are possible in 98103, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Seattle:
Property Strategy for 98103
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $416,039 | $2,570 | 4.4% | -0.7% | $416,039 |
| 2BR | $730,793 | $2,990 | 2.9% | +2.0% | $365,397 |
| 3BR | $938,418 | $3,910 | 3.0% | +2.3% | $312,806 |
| 4BR | $1,270,161 | $4,600 | 2.6% | +3.7% | $317,540 |
| 5BR | $1,451,131 | — | — | +3.9% | $290,226 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98103 Compare?
| Metric | 98103 | Seattle | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $909,772 | $694,046 | N/A | $591,536 |
| 5-Year CAGR | 1.3% | 0.8% | N/A | 5.9% |
| Avg Rent | $2,254 | $2,268 | N/A | - |
| Cap Rate | 1.9% | 2.3% | - | - |
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 98103 (Seattle, WA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 98103 (Seattle, 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 | $909,772 |
| Monthly Rent | $2,254 |
| Price-to-Rent | 33.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.0% |
| Cap Rate | 1.9% |
| 5-Year IRR | 3.2% |
📈 Home Appreciation
| 1-Year | +1.3% ▲ |
| 3-Year CAGR | +1.3% ▲ |
| 5-Year CAGR | +1.3% ▲ |
| 10-Year CAGR | +3.7% ▲ |
🏠 Rent Trends
| 1-Year | +0.7% ▲ |
| 3-Year CAGR | +2.1% ▲ |
| 5-Year CAGR | +3.4% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.9%). 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 98103
Population: 51,988
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 98103
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Lowell Elementary School
Sacajawea Elementary School
John Hay Elementary School
Laurelhurst Elementary School
Queen Anne Elementary
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 10,388 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What kind of vacancy should I budget for in Seattle, WA?
Vacancy risk in Seattle, WA is elevated. That supports steady cash flow for typical rental holds.
What do rentals go for in Seattle, WA?
Expect rents around $2,254/mo per month in Seattle, WA. With home values at $910K, the yield math works out to reasonable levels for rental investors.
Are renters plentiful in Seattle, WA?
The renter base in Seattle, WA is reasonable for the $2,254/mo price point. Screening well and pricing to market typically yields stable tenants.
Are eviction rules reasonable in Seattle, WA?
Landlord-friendliness in Seattle, WA is tenant-protective. Eviction timelines and lease enforcement are considered reasonable by most property managers.
How does Seattle, WA rate as a rental market?
Seattle, WA reports an investability rating of 2.0/5, with median home values near $910K and average rents around $2,254/mo. That combination puts it in the substantial tier for investor interest.
You know 98103 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98103 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 98103 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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