Montlake, Seattle, WA—98112
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Montlake, Seattle, WA
As of Oct '25, the median home price in Montlake, Seattle, WA is $1,338,000, with a year-over-year change of -1.6%. This indicates that home prices in Montlake, Seattle, WA are decreasing. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $1,338,000 | -1.6% |
| Single Family | $1,492,000 | -1.3% |
| Condos | $621,000 | -6.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $497,000 | -3.9% |
2 Bed | $829,000 | -2.8% |
3 Bed | $1,310,000 | -1.7% |
4 Bed | $1,891,000 | -0.5% |
| 5 Bed | $2,601,000 | -0.2% |
% of Housing Stock
Rental Trends — Montlake, Seattle, WA
As of July '25, Rentcast reports the average rent in Montlake, Seattle, WA is $2,770, with a year-over-year rent change of -6.1%. Per bedroom, the median rent as of July '25 in Montlake, Seattle, WA is studios: $1,490, 1-bedrooms: $1,950, 2-bedrooms: $2,860, 3-bedrooms: $5,330, 4-bedrooms: $6,390. The most common rental property sizes in Montlake, Seattle, WA are 1-bedroom and 2-bedroom, accounting for 39.7% and 29.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,150 | $2,770 |
| Studio Rent | $1,580 | $1,490 |
| 1 Bed Rent | $2,000 | $1,950 |
| 2 Bed Rent | $2,700 | $2,860 |
| 3 Bed Rent | $5,200 | $5,330 |
| 4 Bed Rent | $6,400 | $6,390 |
% of Rental Stock
Property Listings — Montlake, Seattle, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Montlake, Seattle, WA is 35. This is a increase of 6.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,200,000 | -33.0% |
Listing Count | 111 | 16.0% |
| Listings as % of Homes | 0.2% | 16.0% |
Days on Market | 35 | 6.0% |
Demographics — Montlake, Seattle, WA
As of the latest ACS Survey released in 2023, Montlake, Seattle, WA has a population of 24,000, which has decreased by -5.8% over the past 5 years. Montlake, Seattle, WA is a moderately popular place for families, as children make up 16.7% of the population. The area has a highly educated workforce, with 80.9% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 31.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 24,000 | -5.8% |
% Under 18 | 16.7% | 1.2% |
% Seniors | 15.7% | 9.0% |
% WFH | 31.8% | 227.8% |
% w/ College Degree | 80.9% | 0.7% |
As of the latest ACS Survey released in 2023, Montlake, Seattle, WA is a predominantly white area, with 75.8% of the population identifying as white. The white population has shrunk by 6.7% in the last 5 years. The second most common race or ethnicity in Montlake, Seattle, WA is asian, making up 9.9% of the population. Foreign-born residents account for 10.6% of the population in Montlake, Seattle, WA, and this percentage has decreased by 6.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 75.8% | -6.7% |
% Black | 4.4% | 33.3% |
% Hispanic | 3.9% | -4.9% |
% Asian | 9.9% | 86.8% |
% Foreign Born | 10.6% | -6.2% |
Mortgage and Risk — Montlake, Seattle, WA
According to HUD data as of 2023, there were 221 mortgage originations in Montlake, Seattle, WA, of which 99.0% of loans were conventional mortgages. The average loan-to-value was 50.0%, with 5.0% above 90% LTV (normal). This implies small mortgage risk in Montlake, Seattle, WA. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 221 |
% Conventional Loans | 99.0% |
% Government Loans | 1.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Montlake, Seattle, WA
As of 2024, the percent of homes in Montlake, Seattle, WA under the Section 8 program is 4.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Montlake, Seattle, WA, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 386 |
Total Units Section 8 | 189 |
% Rentals under Section 8 | 4.3% |
% Occupied Section 8 | 85.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $420 | $2,000 | $2,420 |
| 2 Bedroom | $120 | $2,700 | $2,820 |
| 3 Bedroom | -$1,480 | $5,200 | $3,720 |
| 4 Bedroom | -$2,070 | $6,400 | $4,330 |
Affordability — Montlake, Seattle, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 8.3 |
| Median Home Price | $1,338,000 |
| Median Household Income | $162,000 |