Island Square
2758 78th Ave SE,
Mercer Island, WA 98040
$1,972 - $3,999
Studio - 2 Beds
Residents living on Mercer Island consider the neighborhood absolute paradise – and they’re 100% correct! Downtown Mercer Island’s cityscape is ever-evolving with the addition of new markets, restaurants, and shops at Town Center.
Island restaurants locals can’t get enough of include Freshy’s Seafood Shack and Pagliacci Pizza. Healthy and organic grocery stores are popping up all over the community, next to established bookstores, coffee shops, and chocolatiers.
In the summer months, residents gather at the Mercer Island Farmers Market for fresh seasonal flowers and baked goods. The island beaches sure are fun, but they pack quickly on weekends.
When it comes to work commutes into Bellevue or Seattle, residents are comforted by direct access to Interstate 90 and the park-and-ride bus station. It’s a highly desirable area for families, flanked with sculpture gardens and parks near Downtown Mercer Island apartments!
As of March 2026, the average apartment rent in Downtown Mercer Island is $2,151 for a studio, $2,572 for one bedroom, $3,600 for two bedrooms, and $5,301 for three bedrooms. Apartment rent in Downtown Mercer Island has decreased by -1.0% in the past year.
Studio
608 sq ft
Average Sq Ft
$2,151/month
Average Rent
1 BR
806 sq ft
Average Sq Ft
$2,572/month
Average Rent
2 BR
1,204 sq ft
Average Sq Ft
$3,600/month
Average Rent
3 BR
1,646 sq ft
Average Sq Ft
$5,301/month
Average Rent
Explore how walkable, bikeable, drivable, and transit-friendly Downtown Mercer Island - Mercer Island, WA is for everyday living.
Very Walkable
If you enjoy walking, you’ll enjoy renting in this area! It’s a very walkable neighborhood.
Some Transit
You'll likely want a car when living in this area since it has few transit options.
Bikeable
While there’s some bike infrastructure in this area, you’ll still need a car for many errands.
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† Our analysis of utilities, groceries, transportation, healthcare, home prices, and other goods and services is sourced from the Cost of Living Index, a respected benchmark published by the Council for Community and Economic Research (C2ER) that provides a thorough overview of living expenses across different regions.
Rent data is provided by CoStar Group’s Market Trend reports. As the industry leader in commercial real estate information, analytics, and news, CoStar conducts extensive research to produce and maintain a comprehensive database of commercial real estate information. We combine this data with public record to provide the most up-to-date rental information available.
Consumer goods, services, and home prices are sourced from the Cost of Living Index published by the Council for Community and Economic Research (C2ER). The data on this page is updated quarterly. It was last published in February 2026.