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Q: When will Eclipse Mill Park at Everett’s Riverfront actually open?

A: The park will now be built in two phases. The City of Everett’s waterside portion — the pier, floating dock, playground, and fish habitat work — starts July 2026 and wraps in November 2026 after the Washington Department of Ecology pushed the original start back for additional site-condition review. The second, larger phase, built by developer Shelter Holdings, runs from fall 2026 through spring 2028, with the full Eclipse Mill Park opening projected for spring 2028.

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Eclipse Mill Park Gets a New Timeline: Why Everett’s Riverfront Signature Park Is Now a Spring 2028 Opening

We’ve been watching the Riverfront development on the west bank of the Snohomish River for years now, and if you drive past it on the way to the new Costco at I-5 and 41st, you already know the shape of the thing. Apartments are up. Retail pads are framed out. The trail along the river is there if you know where to look for it. But the piece that was supposed to tie the whole development together — Eclipse Mill Park, the 3-acre public park that’s going to be the signature green space for the new neighborhood — has a new timeline, and it’s worth understanding what changed.

Here’s where things actually stand as of late April 2026, and what it means for the Riverfront buildout.

The Short Version: A Two-Phase Park With Two Different Builders

Eclipse Mill Park isn’t being built as a single contract or by a single entity. The 3-acre park is split into two phases, with two different builders on two different timelines. That’s the first thing to understand, because the confusion over “when does the park open” has largely come from people treating it as one project when it’s really two.

Phase 1 — City of Everett’s portion. This is the waterside end. Playground. Pier. Floating dock. Fish habitat improvements along the riverbank. The City Council approved a $3.6 million construction contract last May to build this phase.

Phase 2 — Shelter Holdings’ portion. This is the upland section of the park, built by the private developer as part of their Development Agreement with the City. This is the larger portion of the park’s 3 acres.

Two builders. Two contracts. Two timelines. And two different reasons the opening keeps sliding.

Why Phase 1 Slid to July 2026

The original plan had City of Everett crews starting Phase 1 work earlier, with the waterside amenities coming online in 2026. That timeline got redrawn after the Washington Department of Ecology requested additional review of site conditions along the riverbank — a standard request for any project that touches fish habitat on a river as ecologically significant as the Snohomish.

The revised schedule now has:

• Construction mobilization: July 2026
• Waterside amenities complete: November 2026

So the pier, the floating dock (which Port officials have said could eventually be used to launch personal watercraft), the playground, and the fish habitat restoration work are all targeting a late-2026 completion on the City’s end. That’s a real, visible change Riverfront residents will see this year — crews on site by midsummer, open amenities by late fall.

Why Phase 2 Runs Fall 2026 to Spring 2028

Once the City’s portion wraps, Shelter Holdings picks up the baton. Their phase of the park is scheduled from fall 2026 through spring 2028, which puts the full-park opening at spring 2028 — about 18 months later than anyone in the neighborhood was hoping when the Riverfront plan was first approved.

Why so long? A few honest reasons. The Phase 2 work is the larger share of the 3 acres. It’s being built by the developer, not the City, which means it’s coordinated with the rest of the Shelter Holdings buildout — apartments, retail pads, parking, internal streets — and you can’t pour the signature park in the middle of active mixed-use construction without risking damaging it. So the park goes last, and it goes slow, and the opening date sits at spring 2028.

What Gets Built: The Actual Park Design

The published park program is generous for a 3-acre urban waterfront park. Here’s what the full build includes once both phases are done:

• A waterfront pier extending into the Snohomish River
• A floating dock sized for personal watercraft launch
• A playground at the City’s end of the park
• A signature open lawn and gathering space on the Shelter Holdings side
• Fish habitat improvements built into the riverbank along the full frontage
• Trails connecting the park to the broader Riverfront trail network
• Integration with the apartments and retail to the east so the park reads as the neighborhood’s front porch, not just leftover space

It’s not the acreage of Grand Avenue Park or Forest Park. But for the kind of neighborhood Riverfront is trying to become — dense, mixed-use, transit-accessible, and built on a former industrial site — a 3-acre programmed park with a working pier is a meaningful amenity.

The Bigger Picture: Riverfront’s Slow Build Continues

Eclipse Mill Park’s slip to 2028 is part of a pattern we’ve been tracking for a while. The Riverfront project was originally approved as a 40-acre, 1,250-unit mixed-use development that would include a multiplex cinema, a specialty grocer, a 250-room hotel, office space, and 3 acres of park. The cinema has since been swapped for pickleball courts (reflecting where the indoor entertainment dollar is going in 2026), the grocer has moved around on the site plan, and the timeline for each piece has shifted.

Two mixed-use apartment buildings are already up. Phase 2 housing — the piece that really fills out the neighborhood — is underway. The hotel is still a future phase. And now the park, which was supposed to open alongside Phase 2 apartments, slides to 2028.

None of this is unusual for a redevelopment of an old industrial site on a federally regulated river. Every interaction with Ecology, every seasonal fish window, every shared utility trench adds weeks. If you’ve watched any of Seattle’s waterfront projects unfold, you know the shape of it.

What Residents Will Actually See This Year

Even with the park pushed to 2028, there’s real work happening on the Riverfront waterline this year that residents can watch in real time:

• Summer 2026: City crews mobilize for Phase 1 park construction. Expect fencing, equipment staging, and in-water work during the permitted fish window.
• Fall 2026: Phase 1 waterside amenities near completion. The pier and floating dock take shape.
• November 2026: City portion hits substantial completion.
• Fall 2026 — concurrent: Shelter Holdings begins Phase 2 park construction, running through 2027.
• Through 2026-2027: Remaining Shelter Holdings residential buildings continue vertical construction.

The Riverfront trail along the Snohomish River stays open throughout, which is the piece most residents actually use day to day. If you walk the trail now, you’ll see the raw edge where the riverbank will be reshaped for fish habitat — watching that transform from fall through next year is going to be one of the more visible pieces of construction on the east side of Everett.

How the Riverfront Delay Compares to Waterfront Place

For context, the Waterfront Place development over on the Port of Everett side is running its own slipping timeline. Millwright District Phase 2 is breaking ground this year with 300+ apartments targeting tenant move-ins by late 2026, but the Class-A office buildings aren’t expected to open until as early as 2028. S3 Maritime just opened. Menchie’s and Marina Azul are in the pipeline. The flagship restaurant parcel is still in tenant search.

Both the Riverfront and the Waterfront are doing the same kind of work on different sites — converting former industrial edges into mixed-use neighborhoods, with parks, restaurants, and apartments. Both are running into the same realities: Ecology review windows, developer coordination, fish seasons, infrastructure sequencing, and the plain fact that you can’t stand up a neighborhood in 18 months.

The difference between watching these projects with frustration and watching them with curiosity is mostly about whether you understand what the timelines actually mean. An extra year on Eclipse Mill Park isn’t a failure — it’s the cost of doing riverbank restoration right, in a phased build, with a private developer stitching into a public park.

What Comes Next

The next milestone to watch is July 2026 mobilization at the park’s waterside. If that holds, the Phase 1 amenities will be open by Thanksgiving. Shelter Holdings’ Phase 2 timeline is tied to the rest of their buildout, so the next market update on Riverfront housing will be the better indicator of whether the park’s 2028 opening slips again.

We’ll be back at the Riverfront site later this summer with photos once the fencing goes up and the equipment stages in. If you’re a resident of one of the existing Riverfront buildings and you see activity before then, we want to know what you’re seeing from your windows.

Frequently Asked Questions

When will Eclipse Mill Park open in Everett?

The full 3-acre park is projected to open in spring 2028. The City of Everett’s phase (playground, pier, floating dock, fish habitat work) is scheduled to be complete by November 2026, but the full park including Shelter Holdings’ Phase 2 won’t open until spring 2028.

Why was Eclipse Mill Park delayed?

The Washington Department of Ecology requested additional review of site conditions along the riverbank, which pushed construction mobilization to July 2026. The Phase 2 timeline is tied to developer Shelter Holdings’ broader Riverfront buildout.

Who is building Eclipse Mill Park?

Two builders. The City of Everett is building Phase 1 (waterside amenities) under a $3.6 million construction contract approved by the City Council in May. Shelter Holdings, the private developer of the Riverfront project, is building Phase 2 (the larger upland portion) under their Development Agreement with the City.

What will be in Eclipse Mill Park?

A pier, floating dock for personal watercraft, playground, open lawn and gathering space, fish habitat improvements along the Snohomish riverbank, and trails connecting to the broader Riverfront trail system.

Where is the Riverfront development in Everett?

Riverfront is on the west bank of the Snohomish River, east of I-5, near the Hewitt Avenue Trestle. It’s a 40-acre former industrial site being redeveloped into a mixed-use neighborhood with housing, retail, a hotel, and parks.

How is Riverfront different from Waterfront Place?

Riverfront is on the Snohomish River on Everett’s east side, developed by Shelter Holdings. Waterfront Place is on Puget Sound on Everett’s west side, developed by the Port of Everett with various partners. Both are converting former industrial sites into mixed-use neighborhoods — they just face different waterways.

What else is happening at Riverfront in 2026?

Phase 2 residential construction continues. The cinema originally planned has been replaced with pickleball courts. Remaining apartment buildings are under vertical construction. The Riverfront trail stays open throughout construction.

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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.

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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.

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Q: Are there apartments available at Waterfront Place in Everett?

A: Yes — but not many. As of late April 2026, The Sawyer and The Carling at Waterfront Place have roughly 13 of their 266 total units available for lease, putting the complex at approximately 95% occupied. Available rents run from $2,202 to $2,800 per month, depending on unit size and floor. At just under a 5% vacancy rate against a softening broader Everett rental market, Waterfront Place is leasing above the city average — which tells you something about where the demand is on the Everett waterfront.

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Waterfront Place Is 95% Full: What the Sawyer and Carling’s Occupancy Tells Us About Everett’s Waterfront Housing Demand

We’ve been tracking the rental market on this desk long enough to know that when the broader city rents are softening and one specific complex is still running at 95% occupied, there’s something worth understanding about what’s different.

The two apartment buildings at the Port of Everett’s Waterfront Place — The Sawyer to the north and The Carling to the south, 266 total units between them — are currently showing 13 available apartments across both buildings, with rents running $2,202 to $2,800/month. Do the math: that’s a vacancy rate of roughly 4.9%, which for a stabilized four-story mid-rise in a premium location is tight.

Meanwhile, the rest of Everett’s rental market is softening. Average rents across the city are down about 2% year-over-year. Downtown newer buildings are offering concessions. And yet Waterfront Place is leasing at a premium to the Everett average, keeping occupancy high, and not needing the same promotions to fill units.

Here’s what’s actually going on.

The Buildings, By the Numbers

The Sawyer + The Carling (the combined Waterfront Place apartment complex):

• Location: 1300 W Marine View Drive, Everett, WA 98201
• Total units: 266 across two four-story buildings
• Square footage: approximately 247,000 square feet total
• Current availability: ~13 units listed
• Current rent range: $2,202 to $2,800/month
• Developer / builder: Built by Graham Construction
• Ownership: Sea Level Properties
• Opened: Phase 1 delivered as part of Waterfront Place Central’s first residential component

For context against the Everett average rent of $1,849/month, Waterfront Place runs about 19% to 51% above the market average. That’s a real premium — but it’s buying a product that doesn’t exist anywhere else in Everett.

What You’re Paying For (Beyond Four Walls)

The amenity package at Waterfront Place is the reason for the premium. These aren’t standard Snohomish County apartment amenities — these are the kind of amenities you’d see in a Seattle Belltown or Kirkland waterfront building:

• Two rooftop decks (one per building) with views of Puget Sound, the marina, Hat Island, and the Olympic mountains beyond
• Speakeasy-style bar and game room for residents
• Full fitness center and yoga studio
• Two-level lobby with fireplace
• Secure bike storage (meaningful on the waterfront)
• On-site resident concierge
• Walking distance to every Waterfront Place retail tenant — Tapped, Fisherman Jack’s, The Net Shed, Menchie’s, Marina Azul (opening), and the public marina

That last point matters more than any single on-site amenity. If you’re a Waterfront Place resident, your front door opens onto the largest public marina on the West Coast, and your daily walk to grab coffee goes past the boats and the harbor seals. You can’t replicate that amenity by building it — you have to live in a unit that’s physically there. That’s what the premium buys.

Why 95% Occupancy in a Softening Market

When a neighborhood’s rental market is going the wrong direction (down ~2% year-over-year) and one specific building is still nearly full, there’s usually a combination of reasons. For Waterfront Place:

Location cannot be copied. You either live on the Port of Everett waterfront or you don’t. New units at Millwright District (300+ breaking ground this year) will eventually compete, but those are 18-24 months away from actually drawing residents. Meanwhile, The Sawyer and The Carling are the only stabilized Class-A waterfront apartments on the Port side of Everett.

Boeing and Navy professional segment. Waterfront Place’s price point — $2,200 to $2,800 per month — lines up well with a Boeing 737 North Line engineer, a Navy officer stationed at NAVSTA Everett, or a remote-work professional who picked Everett for the cost differential against Seattle. These tenant segments don’t bargain the same way transient renters do. They lock in a lease, they stay.

Short commute to major employers. It’s a ~3-mile drive to Boeing’s Everett factory and ~1.5 miles to Naval Station Everett. You can live at Waterfront Place, work on the 737 North Line, walk to dinner on the waterfront, and never deal with I-5. That matters to the specific professional tenant base this property attracts.

The retail is actually happening. For a long time, waterfront apartment buildings in Everett came with a promise of retail that never fully materialized. That’s now changing. Fisherman Jack’s is running with a full menu. The Net Shed is stabilized three months in. Tapped Public House has its rooftop. Menchie’s and Marina Azul are almost open. That retail buildout removes the “Yeah, but there’s nothing to walk to” objection that used to come with waterfront apartment living in Everett.

Renters who are already in don’t want to leave. Tenure matters in apartment math. A complex that retains 70%+ of its residents at lease renewal runs at 95% occupancy almost automatically. We don’t have public retention numbers for Waterfront Place, but the indirect signal — consistent occupancy in a softening market, limited concession pressure — suggests the retention rate is strong.

What the 13 Available Units Look Like

Pulled from current listings, the available inventory at Waterfront Place covers a spread:

• Smaller units at the lower end: Starting around $2,202 for one-bedroom floor plans in the 650-750 sq ft range
• Larger one-bedrooms and compact two-bedrooms: $2,400-$2,600 range
• Two-bedroom floor plans with better views: $2,700-$2,800

The pattern you’d expect: smallest-and-interior-facing units available first, view units and two-bedrooms last. Anyone hunting for a specific floor plan or view orientation should call the property directly at (425) 622-9130 because the online listings don’t always reflect the full current inventory.

What This Means for the Rest of Waterfront Place Development

A 95% occupied Phase 1 apartment complex is the data point that makes the Millwright District Phase 2 apartment deal make sense on paper. The Port of Everett and its development partners are about to break ground on 300+ more apartment units in the Millwright District this year, targeting tenant move-ins by late 2026. That’s a lot of new units for a soft market.

But if Waterfront Place is running at 95% occupancy at rents that are 19-51% above the Everett average, the market is signaling that waterfront-location demand is a different demand curve than the general Everett rental market. The Millwright apartments won’t have to compete on price with Hewitt Avenue mid-rises. They’ll compete with the Sawyer and the Carling. And at 95% occupancy, the Sawyer and the Carling aren’t a comp that’s begging for competition.

Put simply: the demand is there. The 300+ new units won’t flood a soft market — they’ll fill the bucket that Waterfront Place is already filling, for the kind of tenant who values being physically on the waterfront and is willing to pay for it.

What Comes Next for Waterfront Place Housing

Beyond the Millwright District 300+ apartments breaking ground this year, the Port of Everett’s Waterfront Place master plan calls for up to 660 waterfront homes total across the full buildout — a mix of apartments, condominiums, and townhomes/lofts. The 266 units at The Sawyer and The Carling are Phase 1. Millwright is Phase 2. Future phases will include additional rental and for-sale inventory as more Waterfront Place parcels develop.

For current or prospective Waterfront Place renters, this is the honest read: pricing holds at today’s levels as long as occupancy stays above ~92-93%. If the Millwright District units come online and temporarily push occupancy below that, Waterfront Place will see modest concession pressure — probably for a six-to-twelve-month window in late 2026 or early 2027. Then the market re-stabilizes and pricing firms again.

For renters who want to be on the Everett waterfront and don’t need to move in immediately, the best pricing window is going to be right when Millwright District opens — because both complexes will be competing for the same tenant segment for a short time.

Frequently Asked Questions

How many apartments are at Waterfront Place in Everett?

There are 266 total apartment units across two four-story buildings — The Sawyer (north) and The Carling (south) — at the Port of Everett’s Waterfront Place development at 1300 W Marine View Drive.

How much does it cost to rent at Waterfront Place Everett?

Current rents range from $2,202 to $2,800 per month depending on floor plan, square footage, and view. That’s roughly 19% to 51% above the Everett average apartment rent of $1,849.

Are there units available at Waterfront Place?

As of late April 2026, approximately 13 of 266 units are available, putting the complex at about 95% occupied. Contact the property directly at (425) 622-9130 for current specific unit availability.

Who built the Waterfront Place apartments?

Graham Construction built the two buildings. Sea Level Properties owns and operates the complex. The project is part of the Port of Everett’s broader Waterfront Place mixed-use master plan.

What amenities are at Waterfront Place?

Two rooftop decks, a speakeasy-style bar and game room, fitness center and yoga studio, two-level lobby with fireplace, secure bike storage, on-site resident concierge, and walking access to all Waterfront Place retail and restaurants.

How close is Waterfront Place to Boeing and Naval Station Everett?

Approximately 3 miles to Boeing’s Everett factory and about 1.5 miles to Naval Station Everett. Both are accessible without using I-5, making the daily commute simple for waterfront residents working at those employers.

Will the new Millwright District apartments compete with Waterfront Place?

Yes — 300+ new apartments breaking ground this year in the Millwright District at Waterfront Place will compete for the same tenant segment. Expect a modest concession window in late 2026 and early 2027 as those units lease up, followed by market stabilization.

Q: What is happening in Everett, Washington’s housing market in 2026?

A: Everett’s citywide median home sale price is approximately $547,000 in February 2026, down 11.6% year over year per Redfin data. But the citywide number masks three very different submarkets. Downtown Everett is up 11.4% year over year (median $384,000) as Waterfront Place restaurant row and the proposed AquaSox stadium pull in demand. Northwest Everett — the historic mansion district above the waterfront — is up 22.1% year over year (median $705,000 as of October 2025). And the 98208 ZIP code on the south side is down 7.5% (median $740,000 as of January 2026). Homes citywide are going pending in approximately 8 days at about 1% under list price. The right number for your decision is your neighborhood’s number, not the citywide one.

Everett’s Three Housing Markets: A Complete Mid-2026 Guide to Downtown, Northwest Everett, and 98208

The Everett, Washington housing market in mid-April 2026 is not one market. It is three markets sitting inside the same set of city limits, and they are moving in three different directions. Downtown Everett is up double digits year over year. Northwest Everett — the historic Rucker Hill bluff district — is up more than 20 percent. The 98208 ZIP code on the south side is down 7.5 percent. The citywide median is down 11.6 percent and tells you almost nothing about any individual block.

For buyers, sellers, investors, and anybody trying to understand what their own home is worth, the right number is the neighborhood number. Here is the full mid-2026 picture, with the data sources, the catalysts pulling each submarket in its direction, and what to watch through summer.

The Citywide Snapshot — Why It Misleads

Per Redfin’s most recent reading, the city of Everett posted a median home sale price of $547,000 in February 2026, down 11.6% from the prior year. Median price per square foot is $394, up 0.9% year over year. Homes go pending in approximately 8 days, and the typical sale closes at about 99% of list price.

An 11.6% citywide decline is a significant correction by historical standards. It is not a 2008-style collapse — speed-of-sale is still fast, price-per-square-foot is essentially flat, and the market is functional. What’s happening is that the feverish appreciation of 2021–2023 has normalized out and the city as a whole has settled into a market that looks more like 2019 than like 2022.

That settling is wildly uneven across Everett’s neighborhoods. The next three sections explain why.

Submarket 1: Downtown Everett — Up 11.4% YoY

Downtown Everett’s median sale price is approximately $384,000 in early 2026, up 11.4% year over year per Redfin. Price per square foot is $410, down 15.6% year over year — meaning median sale prices are climbing while individual price-per-square-foot is compressing. That is the signature of a submarket where smaller, denser units are appreciating fast and larger units are still adjusting.

Downtown Everett has historically been the most affordable submarket in the city — older condos, aging multifamily stock, a mix of rental and owner-occupied product that rarely commanded premium pricing. The shift in 2025 and 2026 is the direction of the trend. Several catalysts are stacked on top of each other:

• Waterfront Place lease-up. Tapped Public House (opened March 2, 2026), Rustic Cork (December 2025), The Net Shed (December 2025), Menchie’s at the Marina (ribbon cutting March 13, 2026), and Marina Azul Cocina & Cantina (early spring 2026) have transformed downtown’s Friday and Saturday evening foot traffic.
• The proposed AquaSox stadium. The City Council is being asked for $10.6 million in design funding on April 29, 2026. A yes vote is a structural tailwind for downtown valuations.
• Edgewater Bridge opening April 28, 2026. Cuts a long-running Mukilteo-corridor detour for downtown-proximate commutes.
• Funko HQ continued pull and Hewitt Avenue restaurant build-out.

If you bought a downtown condo in 2023 or 2024 when the citywide market was peaking and watched your paper value slide, that paper value has likely recovered and then some. The downtown trend is running counter to the citywide trend, and it is doing so for fundamental reasons rather than as a statistical anomaly.

Submarket 2: Northwest Everett — Up 22.1% YoY (October 2025 reading)

Northwest Everett is the historic mansion district — the bluff above the waterfront, the big old homes on Rucker, Grand, and Hoyt, the streets that were Everett’s money before the mills came in. The most recent neighborhood-level Redfin reading shows a median sale price of approximately $705,000, up 22.1% year over year as of October 2025.

Two forces are pulling Northwest Everett. The first is the same waterfront thesis pulling downtown — everything happening at the Port of Everett’s Waterfront Place is making the bluff above the waterfront more valuable. The second is housing stock scarcity. Northwest Everett doesn’t have teardown-and-build-a-fourplex density potential in most of its blocks. What is there is largely what is there. When demand for character-rich historic Puget Sound homes spikes, Northwest Everett is one of the first submarkets to reprice.

The October 2025 reading is the most recent neighborhood-level number Redfin has published. The citywide trend since then suggests the appreciation pace has likely moderated, but the relative premium NW Everett commands over the citywide average is structural and not going anywhere.

Submarket 3: 98208 — Down 7.5% YoY

The 98208 ZIP code covers Everett’s south and east — Silver Lake, much of the Cascade High School attendance boundary, the corridors that blend functionally into unincorporated Snohomish County. Redfin shows a median sale price of approximately $740,000 in January 2026, down 7.5% year over year. Median price per square foot is $365, down 8.3% year over year.

98208 is where much of Everett’s 1990s and 2000s single-family stock sits and where a large share of Seattle in-migration landed during 2020–2023. That migration cycle is what’s unwinding. 98208 saw some of the strongest appreciation during the 2021–2023 boom, and it is now seeing some of the sharpest year-over-year declines. The $740,000 median is still substantial — higher than the citywide number — but it is down from a recent peak around $800,000.

For buyers, the 98208 negotiation leverage is the strongest in Everett right now. For sellers, the inventory pressure is the highest.

What This Means for Different Everett Buyers

First-time buyer: Downtown is the entry point. A $384,000 median for a downtown condo is in reach for a dual-earner household at Everett’s median household income with a VA or FHA loan. The +11.4% YoY trend means you are buying into appreciation, not against it.

Move-up buyer: 98208 is the buy. The submarket is down more than the citywide average. If you already own a smaller unit and want to trade up to a 3–4 bedroom single-family home, the negotiation environment is the most favorable since 2019.

Northwest Everett buyer: Inventory is the constraint, not price discovery. If a Rucker Hill or Grand Avenue home you want comes available, plan to move quickly. NW Everett listings often go pending in days at full or above asking.

Investor / developer: Watch Millwright District Phase 2 pre-leasing (120,000 sq ft of office space) and Waterfront Place Restaurant Row foot traffic as leading indicators for downtown. The investment thesis for small downtown multifamily is specifically the Waterfront Place thesis.

Seller: Price sharp. Eight-day pending times mean well-priced homes move fast and overpriced homes get stale fast. Don’t anchor to what your neighbor got in 2022. Talk to an agent who has closed in your specific ZIP code in the last 90 days.

What to Watch Through Summer 2026

• Stadium vote April 29. $10.6 million in design funding from the City Council. Pass or fail moves downtown’s structural thesis.
• Sound Transit Everett Link Draft EIS. Expected this year. Any movement in either direction repositions downtown and waterfront-adjacent pricing materially.
• Millwright District Phase 2 pre-leasing. Which tenants sign determines weekday population in 2027–2028, which determines downtown rent trajectory.
• Boeing 737 North Line ramp at Paine Field. 100+ assemblers per day are being onboarded as of April 2026. Where they buy or rent moves submarket inventory.
• NAVSTA Everett housing demand. The base’s military housing arrangements affect off-base Everett demand at predictable points in the deployment and PCS cycles.

The Everett housing market of 2026 is a market in transition. The story is no longer “Everett is up” or “Everett is down.” It is “which Everett.”

Frequently Asked Questions

What is the median home price in Everett, Washington in 2026?

Approximately $547,000 citywide as of February 2026, down 11.6% year over year per Redfin data. The citywide number masks significant neighborhood variation.

Which Everett neighborhood is appreciating fastest in 2026?

Northwest Everett, the historic mansion district on the bluff above the waterfront. The most recent reading shows the median sale price up 22.1% year over year at approximately $705,000 (October 2025 data).

Which Everett neighborhood is the most affordable in 2026?

Downtown Everett, with a median sale price of approximately $384,000 — though it is now appreciating at +11.4% year over year as Waterfront Place lease-up and proposed downtown stadium investment accelerate.

Where is Everett housing softening the most?

The 98208 ZIP code on Everett’s south side, with a median price of approximately $740,000 down 7.5% year over year. This submarket appreciated most aggressively in 2021–2023 and is correcting most sharply in 2025–2026.

How fast are Everett homes selling in 2026?

The typical Everett home goes pending in approximately 8 days, selling at roughly 99% of list price (about 1% under asking).

Is it a buyer’s or seller’s market in Everett right now?

It depends on the neighborhood. Downtown and Northwest Everett lean seller. The 98208 ZIP code leans buyer. Citywide, prices are softer year over year (favoring buyers) but speed of sale is fast (favoring sellers who price sharp).

Why is downtown Everett rising while the rest of the city is falling?

Downtown’s submarket-specific catalysts — Waterfront Place restaurant row, the proposed AquaSox stadium, Edgewater Bridge opening, Funko HQ pull, Hewitt Avenue restaurant build-out — are running counter to broader citywide normalization.

Should I trust the Everett citywide median for my own home value?

No. Neighborhood-level variance is wider than citywide averages would suggest. Use a comp pull from your specific ZIP code over the last 90 days, or consult a local agent who has closed deals in your area recently.