The Mercer Apartment Homes
7650 SE 27th St,
Mercer Island, WA 98040
Studio - 2 Beds | $3,225 - $4,380
Rental Market Trends in Mercer Island, WA
Updated July 2026
The average rent in Mercer Island, WA is $2,369/month.
Rent in Mercer Island is 43% higher than the national average rent of $1,662/month, making this one of the more expensive cities statewide.
$2,369/month
Average Rent
753 Sq Ft
Average Size
+4.7%
Change / Year
324
Available Apartments
Mercer Island rent varies by unit size and layout:
- Studio apartments in Mercer Island average $2,246 per month.
- One-bedroom apartments in Mercer Island average $2,369 per month.
- Two-bedroom apartments in Mercer Island average $3,333 per month.
- Three-bedroom apartments in Mercer Island average $3,097 or more per month.
Average Rent by Home Type
Bedrooms
Average Rent
Average Sq Ft
Bedrooms
Average Rent
Average Sq Ft
How much has average rent changed in Mercer Island, WA?
In the past year, rent has increased by 4.7%, which averages out to $113 more per month.
Market Trends Over Time
July 2026
2025
2026
Rent Ranges in Mercer Island, WA
July 2026
Above $2,000
Most rental prices fall within this range
Percentage*
Rent Range
0%
Below $700/month
7%
$700 - $1,000/month
7%
$1,001 - $1,500/month
7%
$1,501 - $2,000/month
79%
Above $2,000/month
Rent by Neighborhood
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 $2,369, you’ll want to make about $7,896 per month or $94,752 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.
View the Mercer Island Area GuideStudio
$2,249/month
$2,249/month
One Bedroom
$2,753/month
$2,753/month
Two Bedroom
$3,914/month
$3,914/month
Three Bedroom
$5,182/month
$5,182/month
Compare Rent Trends Nearby
Get a clearer picture of the area by viewing rent trends in nearby cities.
Apartment Communities in Mercer Island We Think You'll Love
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Frequently Asked Questions
What is the average rent in Mercer Island?
The average rent in Mercer Island is $2,369 per month, which is 42.5% higher than the national average of $1,662.
Are rents going up or down in Mercer Island?
Rents in Mercer Island, WA are increasing, with prices up 4.7% year-over-year and $113 more per month.
What rent range is most common in Mercer Island?
In Mercer Island, WA, 79% of apartments fall above $2,000/month, though prices may vary depending on location and other factors.
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 2026.
Demographic information comes from Neustar and combines detailed address data with U.S. Census and American Community Survey statistics to produce reliable local estimates.
* Percentages may not total 100 due to rounding.