Apartments in 98040

1 - 10 of 10 Results
26
3D Tour
$1,907 - 4,779
2441 76th Avenue Se Mercer Island, WA
Studio - 3 BR | Available Now
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Dog Friendly
Cat Friendly
Luxury
Air Conditioning
In Unit Laundry
1
$2,275
7505 SE 28Th St Mercer Island, WA
2 BR | Available Now
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Disability Access
44
3D Tour
$2,624 - 4,049
2758 78th Ave SE Mercer Island, WA
1 - 2 BR | Apr. 3, 2026
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Dog Friendly
Cat Friendly
Luxury
Covered Parking
In Unit Laundry
8
$2,375 - 3,195
2805 75th Pl SE Mercer Island, WA
2 BR | Available Now
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Dog Friendly
Cat Friendly
Surface Parking
Storage
Dishwasher
18
$8,500
Mercer Island, WA
4 BR | Available Now
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Dog Friendly
Cat Friendly
House
Dishwasher
15
$2,200 - 3,750
3011 78th Ave SE Mercer Island, WA
1 - 3 BR | Available Now
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Dishwasher
35
$2,500
Mercer Island, WA
Studio | Available Now
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Furnished
Mercerwood
14
$2,995
Mercer Island, WA
2 BR | Available Now
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Dog Friendly
Cat Friendly
Balcony/Deck/Patio
Dishwasher
Fortuna
1
$9,995
8158 W Mercer Way Mercer Island, WA
5 BR | Apr. 15, 2026
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Dog Friendly
Cat Friendly
House
Dishwasher
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 - 10 of 10 Results
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  3. Mercer Island
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How much does it cost to rent an apartment in 98040?

98040 apartments
Bed Type Average Rent Range
Studio $2,200 $1,910 - $2,500
1BR $2,700 $2,000 - $3,200
2BR $2,870 $2,280 - $4,050
3BR $3,750 $3,500 - $4,780
Find an Apartment in 98040
Are you searching for apartments for rent in the 98040 zip code? Rentable has you covered! Currently, there are 27 units available for rent in the 98040 area of Mercer Island, WA. The average rent in this area is $2,750, and the minimum rent for a 2-bedroom floor plan starts at $1,750.

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:
March Rent Report

Welcome to the March 2026 Mercer Island Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the March 2026 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
Apr. 2025
May. 2025
Jun. 2025
Jul. 2025
Aug. 2025
Sep. 2025
Oct. 2025
Nov. 2025
Dec. 2025
Jan. 2026
Feb. 2026
Mar. 2026
1 BR       2 BR

Mercer Island Rent Prices Decrease From February to March

Mercer Island rent prices decreased over the last month. From February to March, 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 February to March, 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 $.

March 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.

March 2026 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 March 1 BR M/M % Change 2 BR March 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.