2024 · Washington
Rental yield in Washington
In 2024, the typical rental in Washington produced a gross yield of 3.6% — $1,824/mo median rent against a $602K median home value, ranking 45th of 51 states.
3.6%
Gross rental yield
below the 4.9% U.S. median
$1,824/mo
Median gross rent
incl. utilities (ACS)
$602K
Median home value
owner-occupied (ACS)
Washington metros by yield
Metropolitan areas in Washington with at least 65,000 residents, ranked by gross rental yield.
| Metro | Gross yield | Median rent | Median value |
|---|---|---|---|
| Olympia-Lacey-Tumwater, WA | 4.2% | $1,829/mo | $526K |
| Lewiston, ID-WA | 3.9% | $1,171/mo | $357K |
| Spokane-Spokane Valley, WA | 3.9% | $1,405/mo | $434K |
| Bremerton-Silverdale-Port Orchard, WA | 3.9% | $1,869/mo | $580K |
| Yakima, WA | 3.8% | $1,106/mo | $350K |
| Walla Walla, WA | 3.7% | $1,311/mo | $425K |
| Kennewick-Richland, WA | 3.7% | $1,360/mo | $442K |
| Portland-Vancouver-Hillsboro, OR-WA | 3.6% | $1,767/mo | $585K |
| Longview-Kelso, WA | 3.4% | $1,173/mo | $420K |
| Seattle-Tacoma-Bellevue, WA | 3.3% | $2,050/mo | $743K |
| Wenatchee-East Wenatchee, WA | 3.3% | $1,375/mo | $503K |
| Mount Vernon-Anacortes, WA | 3.2% | $1,649/mo | $610K |
| Bellingham, WA | 3.0% | $1,569/mo | $628K |
Frequently asked questions
What is the gross rental yield in Washington?
In 2024, Washington had a gross rental yield of 3.6% — $1,824/mo median gross rent against a $602K median home value. That ranks 45th of 51 states (1 = highest yield). Nationally the figure was 4.9%.
Which Washington metros have the best rental yield?
Among Washington metros covered by the data, gross yield was highest in Olympia-Lacey-Tumwater, WA (4.2%), Lewiston, ID-WA (3.9%), and Spokane-Spokane Valley, WA (3.9%).
Does this account for expenses or financing?
No. Gross yield is a top-line market screen — it excludes property taxes, insurance, vacancy, management, and financing. Use it to compare markets, then run a specific deal through a cap-rate or cash-flow calculator.
How investors finance deals in Washington
Yield shows where the numbers work; our Investor Financing Report for Washington shows the rate premium, denial rate, and DSCR lending investors face there.
Run a Washington deal
Source: U.S. Census Bureau, American Community Survey 2024 1-year estimates. Gross rental yield = (median gross rent × 12) ÷ median home value. A market screen, not a net return.