Apartments in 98040

1 - 15 of 15 Results
26
3D Tour
$2,279 - 3,187
2441 76th Avenue Se Mercer Island, WA
1 - 2 BR | Available Now
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Dog Friendly
Cat Friendly
Luxury
Air Conditioning
In Unit Laundry
1
$2,150 - 3,500
3011 78th Ave SE Mercer Island, WA
1 - 3 BR | Available Now
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8
$2,295 - 3,295
2805 75th Pl SE Mercer Island, WA
1 - 2 BR | Available Now
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Dog Friendly
Cat Friendly
Surface Parking
Storage
Dishwasher
28
$5,000
Mercer Island, WA
4 BR | Available Now
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Furnished
House
Balcony/Deck/Patio
Dishwasher
20
$2,500
Mercer Island, WA
Studio | Available Now
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Furnished
Mercerwood
14
$3,095
Mercer Island, WA
2 BR | Available Now
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Dog Friendly
Cat Friendly
Balcony/Deck/Patio
Dishwasher
Fortuna
19
$9,500
Mercer Island, WA
4 BR | Available Now
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Dog Friendly
Cat Friendly
House
Dishwasher
1
$1,995
2939 79th Ave #42a SE Mercer Island, WA
1 BR | Available Now
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Dog Friendly
Cat Friendly
Fitness Center
Dishwasher
1
$2,995
Mercer Island, WA
2 BR | Available Now
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Dog Friendly
Cat Friendly
1
$4,990
6410 SE 24th St Mercer Island, WA
4 BR | Available Now
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House
1
$5,000
4453 E Mercer Way Mercer Island, WA
5 BR | Available Now
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Dog Friendly
Cat Friendly
House
East Seattle
1
$2,995
2920 76th Ave #204 SE Mercer Island, WA
2 BR | Dec. 10, 2025
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Dog Friendly
Cat Friendly
Dishwasher
Pool
1
$2,000 - 2,300
2717 76th Ave SE Mercer Island, WA
1 - 2 BR | Available Now
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Dog Friendly
Cat Friendly
Dishwasher
1
$4,845
4162 W Mercer Way Mercer Island, WA
3 BR | Available Now
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Dog Friendly
Cat Friendly
House
Dishwasher
Mercer Heights
1
$1,995
Mercer Island, WA
1 BR | Available Now
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Dog Friendly
Cat Friendly
Dishwasher
1 - 15 of 15 Results
  1. Home
  2. Seattle Area Apartments
  3. Mercer Island
  4. 98040

How much does it cost to rent an apartment in 98040?

98040 apartments
Bed Type Average Rent Range
Studio $2,500 $2,500 - $2,500
1BR $2,200 $2,000 - $2,900
2BR $3,000 $2,300 - $3,300
3BR $4,170 $3,500 - $4,850
4+BR $5,000 $4,990 - $9,500
Find an Apartment in 98040
Are you searching for apartments for rent in the 98040 zip code? Rentable has you covered! Currently, there are 26 units available for rent in the 98040 area of Mercer Island, WA. The average rent in this area is $2,800, and the minimum rent for a 1-bedroom floor plan starts at $1,995.

Mercer Island offers a variety of fantastic neighborhoods, with Fortuna being one of the top choices. This desirable community provides a great atmosphere for residents, with nearby parks and amenities that make living in Mercer Island even more enjoyable.

So, if you're looking for apartments near 98040 in Mercer Island, WA, be sure to check out Rentable's listings. We have a wide range of options, and you're sure to find the perfect rental that meets your needs and preferences. Start your search with Rentable today and discover your dream apartment in the 98040 area.

Mercer Island:
December Rent Report

Welcome to the December 2025 Mercer Island Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the December 2025 key findings and figures for the Mercer Island rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Mercer Island and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Mercer Island average rent prices in the chart below.

Monthly Rent Report

$3,050
$2,290
$1,530
$760
$0
Jan. 2025
Feb. 2025
Mar. 2025
Apr. 2025
May. 2025
Jun. 2025
Jul. 2025
Aug. 2025
Sep. 2025
Oct. 2025
Nov. 2025
Dec. 2025
1 BR       2 BR

Mercer Island Rent Prices Decrease From November to December

Mercer Island rent prices decreased over the last month. From November to December, the city experienced a 0% decrease for the price of a one-bedroom apartment. The rent price for a Mercer Island one-bedroom apartments currently stands at $.

When we take a look at the two-bedroom comparison from November to December, Mercer Island experienced a 0% decrease for the price of a two-bedroom apartment. The rent price for a Mercer Island two-bedroom apartments currently stands at $.

December Prices: Mercer Island vs. Surrounding Areas

Rent Prices in Mercer Island and Surrounding Areas

Rent prices have decreased in Mercer Island over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Mercer Island suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rents did not increase in any of the Mercer Island suburbs

  • Rents did not decrease in any of the Mercer Island suburbs.

December 2025 Pricing Trends: Mercer Island vs. National Comparisons

Mercer Island Rent Prices More Affordable Than Major Cities

Rent growth in Mercer Island over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Mercer Island average rent prices appear to be relatively affordable for local residents.

The price for a Mercer Island one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Mercer Island and surrounding area rent prices, take a look at the complete data set below.

Data set for Mercer Island and suburbs

1 BR December 1 BR M/M % Change 2 BR December 2 BR M/M % Change

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.