Island Square
2758 78th Ave SE,
Mercer Island, WA 98040
Studio - 2 Beds | $1,999 - $4,251
Rental Market Trends in Mercer Island, WA
What is the average rent in Mercer Island, WA?
$2,347/month
Average Rent
764 Sq Ft
Average Apartment Size
+7%
Increase in the Last Year
As of July 2025, the average rent in Mercer Island, WA is $2,347 per month. This is 43% higher than the national average rent price of $1,637/month, making Mercer Island one of the most expensive cities in the US. When you rent an apartment in Mercer Island, you can expect to pay about $2,015 per month for a studio, $2,347 for a one-bedroom apartment, and around $3,222 for a two-bedroom apartment. If you opt for a three-bedroom rental, you could pay $3,036 or more.
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
Floor Plan Type
Average Rent
Average Sq Ft
How much has average rent changed in Mercer Island, WA?
In the past year, rent has increased by 7%, which averages out to $164 more per month.
Market Trends Over Time
The chart below compares average rent prices to the previous year during the same time period.
Last Updated July 2025
Legend
2024
2025
Rent Ranges in Mercer Island, WA
Last Updated July 2025
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
8%
$700 - $1,000/month
0%
$1,001 - $1,500/month
15%
$1,501 - $2,000/month
77%
Above $2,000/month
Rent by Neighborhood
Last Updated Today
What are the most affordable neighborhoods in Mercer Island?
Based on current rent prices, Downtown Mercer Island is the most affordable neighborhood in Mercer Island.
Neighborhood
Average Rent
Average Sq Ft
What are the most expensive neighborhoods in Mercer Island?
Based on current rent prices, Downtown Mercer Island is the most expensive neighborhood in Mercer Island.
Neighborhood
Average Rent
Average Sq Ft
Which Mercer Island neighborhoods have the most rentals available?
The neighborhood in Mercer Island with the most apartments available is Downtown Mercer Island .
Neighborhood
Average Rent
Average Sq Ft
What salary do I need to live comfortably in Mercer Island, WA?
Because the average rent in Mercer Island is $2,347, you’ll want to make about $7,823 per month or $93,876 per year. The general guideline is to pay no more than 30 percent of your monthly income on rent. However, you’ll want to consider additional factors, such as your monthly bills and other expenses. Use our rent affordability calculator to help determine how much to budget for rent.
How does Mercer Island, WA compare to other nearby cities and neighborhoods?
Use the tool below to compare Mercer Island, WA to other nearby cities and neighborhoods. The Apartments.com neighborhood guides provide you with insight into the area’s transportation, things to do, and more.
Studio
$2,016/month
$2,016/month
One Bedroom
$2,730/month
$2,730/month
Two Bedroom
$3,662/month
$3,662/month
Three Bedroom
$5,495/month
$5,495/month
Nearby City Rent Trends
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Methodology
† 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 June 2025.
* Percentages may not total 100 due to rounding.