Real Estate Investing in Seattle, Washington (98108)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98108 (Seattle, WA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
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 (1.1% CAGR).
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Seattle, WA (98108)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98108 Seattle
The 98108 ZIP in Seattle, WA is a local-operator market. Outside capital chasing a $690K entry has to pair deep knowledge with the discount.
Rent of $2,316/mo on a $690K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 98108 sits below the stated 0.0% once reality is priced in.
Statewide comparisons place 98108 among WA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 98108 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
The right play in 98108 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Seattle:
Property Strategy for 98108
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $443,686 | $1,850 | 3.0% | +0.9% | $443,686 |
| 2BR | $575,366 | $2,160 | 2.7% | +2.5% | $287,683 |
| 3BR | $676,955 | $2,850 | 3.0% | +3.0% | $225,652 |
| 4BR | $782,825 | $3,320 | 3.1% | +3.4% | $195,706 |
| 5BR | $851,311 | — | — | +3.5% | $170,262 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98108 Compare?
| Metric | 98108 | Seattle | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $689,557 | $694,046 | N/A | $591,536 |
| 5-Year CAGR | 1.1% | 0.8% | N/A | 5.9% |
| Avg Rent | $2,316 | $2,268 | N/A | - |
| Cap Rate | 2.6% | 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 98108 (Seattle, WA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 98108 (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 | $689,557 |
| Monthly Rent | $2,316 |
| Price-to-Rent | 24.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 3.7% |
📈 Home Appreciation
| 1-Year | +0.9% ▲ |
| 3-Year CAGR | +0.8% ▲ |
| 5-Year CAGR | +1.1% ▲ |
| 10-Year CAGR | +5.0% ▲ |
🏠 Rent Trends
| 1-Year | -8.3% ▼ |
| 3-Year CAGR | -0.6% ▼ |
| 5-Year CAGR | +2.3% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.6%). 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 98108
Population: 24,430
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 98108
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Emerson Elementary School
West Seattle Elementary School
Dunlap Elementary School
Graham Hill Elementary School
David T. Denny International Middle School
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 5,698 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How much do tenants pay in Seattle, WA?
Expect rents around $2,316/mo per month in Seattle, WA. With home values at $690K, the yield math works out to reasonable levels for rental investors.
Does Seattle, WA favor landlords or tenants?
Rental owners in Seattle, WA deal with a tenant-protective legal framework. Most standard eviction processes run on reasonable timelines.
Is Seattle, WA a good place for real estate investing?
Yes - Seattle, WA a 2.0/5 investability score. With $690K home prices against $2,316/mo monthly rent, the market delivers a reasonable entry point for new investors.
Is Seattle, WA suited for a house hack?
For house hackers, Seattle, WA is a challenging. The $2,316/mo rent on a unit helps defray the mortgage on a $690K property.
Do landlords face vacancy issues in Seattle, WA?
Expect elevated vacancy in Seattle, WA. Rents at $2,316/mo are absorbed by the tenant base without meaningful lag.
You know 98108 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98108 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 98108 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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