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Q: Is rent going up or down in Everett in 2026?

A: Rent in Everett is actually down about 2% year-over-year as of April 2026. The average apartment rent in Everett is $1,849, down from $1,887 a year ago. Studios sit around $1,476, one-bedrooms around $1,676, two-bedrooms around $1,930, and three-bedrooms around $2,340. That makes 2026 a noticeably renter-friendlier market than 2022-2023, driven by new apartment supply from the Waterfront Place, Riverfront, and downtown buildouts finally coming online.

Everett’s Rental Market Just Flipped: Why Apartment Rents Are Down 2% and What That Means for 2026

Everybody in Everett has spent the last three years talking about how for-sale home prices have moved — the median is $547K, down 11.6% from last year, with the downtown and Northwest Everett markets moving in completely different directions than the 98208 zip code. We wrote about that last week. But the story on the rental side is quieter, and most people in Everett haven’t noticed it yet: apartment rents here are actually going down.

Not dramatically. Not uniformly. But down, year-over-year, in a market that’s been running the other direction for most of the past decade. Here’s the full picture as of mid-April 2026.

The Headline Numbers

The average rent for an apartment in Everett right now is $1,849 per month, down about 2.04% from $1,887 a year ago. That’s a ~$38/month reduction on the average unit, or roughly $456/year back in renters’ pockets for the same apartment that cost more last April.

That’s a meaningful shift. For context, Everett rents climbed 15-20% over the three years from 2020 to 2023. Getting to any year-over-year decline at all is a sign of a market that’s rebalancing — and for a lot of working Everett renters, it’s the first real relief in years.

Different data sources have slightly different numbers (rental data always has spread because it’s collected differently by each source), but the direction is consistent:

• Apartments.com: Average rent down ~2% year-over-year
• Apartment List: Rents down 1.6% year-over-year
• Zumper / Rent.com / Point2: Comparable declines of 0.9-2% year-over-year

The median advertised rent for Everett is approximately $1,830 per month. Over the past 3-6 months, the rental market has been mostly stable with only moderate advertised rent movement, which is the market doing what a market does when supply catches up to demand.

The Full Apartment-Size Breakdown

Here’s what renters are paying by unit size in Everett right now:

• Studio: $1,476/month (roughly 500 sq ft)
• One-bedroom: $1,676/month (685 sq ft — $2.45/sq ft)
• Two-bedroom: $1,930/month (941 sq ft — $2.05/sq ft)
• Three-bedroom: $2,340/month (1,186 sq ft — $1.97/sq ft)

Two things jump out. First, the price-per-square-foot actually gets cheaper as units get bigger — which is classic rental economics, because larger units attract longer leases and families looking to stay put. Second, the jump from studio to one-bedroom is only about $200/month, which suggests Everett’s studio supply is relatively tight compared to one-bedrooms. If you can qualify for a one-bedroom, the “extra room” premium is small enough that it’s worth taking.

What’s Causing Rents to Soften

Everett isn’t an outlier here. The broader Puget Sound rental market has softened in 2025-2026 after a brutal run-up. But Everett has its own specific reasons, and all of them are connected to the construction we’ve been tracking on this desk for months.

New supply is finally hitting the market. Waterfront Place’s 266 units at The Sawyer and The Carling are stabilized and leasing at current prices. Riverfront Phase 1 apartments are leased and Phase 2 is delivering. Downtown has added units in new mid-rise buildings. Millwright District Phase 2 is breaking ground this year for 300+ more units. Every apartment that opens pulls some renter out of the existing stock and forces older buildings to compete on price.

Boeing hiring hasn’t fully absorbed the supply yet. The North Line is ramping, but the jobs are being filled over the course of 2026, not all at once. Until the workforce fully shows up and signs leases, the demand side of the equation hasn’t caught up to the supply wave.

Home purchase re-entry. Everett’s median sale price is down 11.6% year-over-year to $547K. Every renter who decides that finally makes a down payment pencil out is a renter leaving the rental pool. That’s small in aggregate but real at the margins.

Broader regional mix. Seattle and Bellevue rent softness bleeds north. When Seattle apartments drop, people who priced themselves out of Seattle and moved north to Everett start seeing Seattle back in reach. That slight outbound migration from Everett’s rental market is real even if the numbers are modest.

What It Means Block by Block

Not every Everett neighborhood is seeing the same rent behavior. Based on advertised listings across the city:

Downtown Everett. Newer mid-rise buildings along Hewitt, Colby, and Rucker are where the most competitive pricing is showing up. These buildings opened into a softening market and are offering concessions (one month free, reduced deposits, waived admin fees) more often than we’ve seen in years. If you’re apartment-hunting in downtown in April-May 2026, ask about concessions — don’t accept the advertised rate as final.

Waterfront Place area. The Sawyer and Carling at Waterfront Place list 13 units available as of this week, with rents ranging from $2,202 to $2,800. That’s premium pricing consistent with the amenity package (two rooftop decks, speakeasy lounge, fitness, concierge) but it’s also a signal of a complex that’s about 95% leased — so scarcity pricing still applies at the top end of the market even when the broader market is softening.

Northwest Everett. Older buildings along Grand Avenue, near Forest Park, and in Bayside are the slowest to cut. These are often owner-operated or small-portfolio landlords who don’t reprice as aggressively as institutional operators. Rents here are more sticky — less upside but less downside.

98208 (Silver Lake / south Everett). This is where the mix skews toward larger two- and three-bedroom units, and where the rent-per-square-foot is actually the cheapest in the city. Families relocating for Boeing, Naval Station Everett, or Providence Regional Medical Center jobs often end up here because the space-for-money math works.

The Renter’s Playbook for Spring 2026

If you’re renting in Everett right now or shopping for a new lease this spring, here’s what we’d tell a friend:

Ask for concessions, always. A softening market is a concession market. One month free on a 13-month lease is a ~7.7% effective rent reduction. That’s often a better deal than a nominally cheaper rent elsewhere.

Don’t auto-renew without comparing. If you’re approaching a renewal, pull three to five comparable units on Apartments.com or Zumper before your landlord sends the renewal letter. You now have negotiating leverage you didn’t have two years ago.

Look at buildings that opened in 2024 or 2025. These properties are stabilizing their rent rolls and are the most likely to run promotions. Older buildings (especially small privately-owned ones) are less flexible.

If you’re shopping waterfront-adjacent, understand the premium. Waterfront Place pricing ($2,202-$2,800) isn’t representative of Everett as a whole. If you want the view and amenities, you pay for them. If you want value, you go downtown or into Northwest Everett.

Check your credit and documentation now. A balanced market still favors renters with clean paper. Boeing pay stubs, Navy LES statements, and steady employment get leases signed faster than thin credit files, even when the market is soft.

What Comes Next

The rental market in Everett is not going to stay soft forever. By late 2026 and into 2027, two things happen at once:

1. Boeing North Line hiring fully absorbs into the local rental market.

2. The Millwright District 300+ apartments and other Waterfront Place housing deliveries slow down the supply pipeline.

When supply slows and demand firms, rents resume climbing. That’s not a prediction — that’s what the math does. Renters who sign 14-month or 18-month leases this spring at today’s softer rates are locking in a floor that may feel like a deal in 2027.

For landlords, the message is the opposite. The days of 8-10% annual rent increases as a default assumption are gone. The next year or two is about occupancy — filling units, keeping residents, earning the privilege of raising rents again when the market turns.

Everett is going through the quiet part of its rental cycle right now. It won’t last. But while it’s here, it’s the first renter-friendly window this city has had in a long time, and worth knowing about.

Frequently Asked Questions

What is the average rent in Everett WA in 2026?

The average apartment rent in Everett is approximately $1,849 per month as of April 2026, down about 2% from $1,887 a year ago.

Is rent going up or down in Everett?

Rent is currently going down in Everett. Average rents are off roughly 2% year-over-year across most data sources (Apartments.com, Apartment List, Zumper), driven largely by new apartment supply hitting the market and a broader Puget Sound rental softening.

How much is a one-bedroom apartment in Everett?

A one-bedroom apartment in Everett rents for approximately $1,676 per month on average, for a typical 685 square foot unit. Rent per square foot is about $2.45 at that size.

How much is a two-bedroom apartment in Everett?

A two-bedroom apartment in Everett rents for about $1,930 per month on average, for roughly 941 square feet. That works out to about $2.05 per square foot.

Is now a good time to rent in Everett?

Spring 2026 is one of the most renter-friendly windows Everett has had in years. Concessions (free months, reduced deposits) are common in newer downtown buildings, and lease negotiations have more room than they did in 2022 or 2023.

Why are Everett rents going down?

Three main reasons: new apartment supply at Waterfront Place, Riverfront, and downtown is hitting the market; Boeing North Line hiring is ramping but not fully absorbed; and the broader Puget Sound rental market is softening, which pulls Everett with it.

Will rents go back up in Everett?

Likely yes, by late 2026 or 2027 as Boeing North Line fully staffs up and new apartment supply slows. Locking in a longer lease this spring at today’s rates is a reasonable hedge for tenants who plan to stay.