www.zillow.com/research/

APRIL2019 Seattle Metro

National Rents

Current: $1,477Monthly Change: 0.2%Annual Change: 2.6%

Seattle Metro Rents

Current: $2,236Monthly Change: 0.1%Annual Change: 2.5%

Breakeven Horizon1.7 years

Major Cities - Rents

SeattleCurrent: $2,519Monthly Change: 0.4%Annual Change: 1.1%Breakeven Horizon: 2.1 years

TacomaCurrent: $1,695Monthly Change: 0.2%Annual Change: 5.7%Breakeven Horizon: 1.4 years

RentonCurrent: $2,299Monthly Change: 0.1%Annual Change: 2.7%Breakeven Horizon: 1.7 years

BellevueCurrent: $2,752Monthly Change: 0.3%Annual Change: 0.9%Breakeven Horizon: 2 years

KentCurrent: $2,149Monthly Change: 0.1%Annual Change: 3.3%Breakeven Horizon: 1.6 years

Esri, HERE, DeLorme, MapmyIndia, © OpenStreetMap contributors, and the GIS user community

City ZRI Year-over-Year-1.6% -1.5% - -0.7% -0.6% - -0.4% -0.3% - 0.0% 0.3% - 1.5% 1.6% - 2.7% 2.8% - 4.1% 4.2% - 6.2% 6.3% - 12.0%

Metro Cities: Top/Bottom by Annual Rent AppreciationTop:Ashford 12%

Sultan 8.7%

Granite Falls 8.1%

Riverton-Boulevard P 7.3%

Seatac 6.9%

Bottom:Medina -1.6%

Clyde Hill -0.7%

Vashon -0.5%

Yarrow Point -0.4%

Newcastle -0.2%

Metro Neighborhoods: Top/Bottom by Annual Rent AppreciationTop:Bayside 7.1%

Riverside 6.9%

Pinehurst 6.8%

South Forest Park 6.8%

Twin Creeks 6.6%

Bottom:Bridle Trails -6.1%

Boulevard Bluffs -2.1%

Wallingford -1.4%

North Redmond -1.4%

Downtown -1.3%

How do we measure rents? To track rents, we use the Zillow Rent Index (ZRI). The

ZRI is the midpoint of estimated rents in a given region. Half the estimated rental prices

are above this number and half are below.

What is the Breakeven Horizon? The Breakeven Horizon in the number of years you

must live in a home before owning the same home becomes more financially advantageous

than renting the home. For example, if ’City X’ had a Breakeven Horizon of 5.5 years,

it is financially better for you to rent in ’City X’ unless you plan on living there for more

than 5.5 years.

APRIL2019

*Top cities and neighborhoods by size within the metro are listed. Additional counties, cities, neighborhoods and zip codes may be available online at

www.zillow.com/research/data or by emailing press@zillow.com

Zillow Research:Zillow R© is the leading real estate and rental marketplace dedicated to empowering consumers with data, inspiration and knowledge around the placethey call home, and connecting them with the best local professionals who can help. In addition, Zillow operates an industry-leading economics andanalytics bureau led by Zillow’s Chief Economist Dr. Svenja Gudell. Dr. Gudell and her team of economists and data analysts produce extensive housingdata and research covering more than 450 markets at Zillow Real Estate Research. Zillow also sponsors the quarterly Zillow Home Price ExpectationsSurvey, which asks more than 100 leading economists, real estate experts and investment and market strategists to predict the path of the Zillow HomeValue Index over the next five years. Zillow also sponsors the bi-annual Zillow Housing Confidence Index (ZHCI) which measures consumer confidence inlocal housing markets, both currently and over time. Launched in 2006, Zillow is owned and operated by Zillow Group (NASDAQ: Z), andheadquartered in Seattle.

www.zillow.com/research/

Largest Cities Covered by Zillow

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Arlington 1.7 2,002 3.7 1.2Auburn 1.7 2,037 2.2 1,970 1.2Bellevue 2 2,752 0.9 2,800 1.5Bonney Lake 1.6 2,008 3.3 2,130 1.1Bothell 1.6 2,409 3.1 2,500 1.2Burien 1.5 2,184 3.9 2,160 1.5Edmonds 1.9 2,358 2.6 2,100 1.4Everett 1.6 1,917 5.4 1,800 1.4Federal Way 1.6 2,082 4.2 1,960 1.2Gig Harbor 1.8 2,112 1.8 2,120 1.1Issaquah 2.1 2,560 0.4 2,700 1.3Kent 1.6 2,149 3.3 2,000 1.3Kirkland 1.7 2,529 1.2 2,620 1.6Lake Stevens 1.6 2,124 5.8 2,240 1.2Lakewood 1.4 1,707 4.4 1,470 1.1

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Lynnwood 1.7 2,247 2.4 2,200 1.3Marysville 1.6 1,956 3.7 2,200 1.2Paine Field-Lake Stick-ney

1.6 1,987 4.7 2,200 1.3

Puyallup 1.6 1,863 4.3 1,880 1.1Redmond 1.8 2,663 1.8 2,650 1.4Renton 1.7 2,299 2.7 2,300 1.3Sammamish 2.2 2,934 0 2,950 1.2Seattle 2.1 2,519 1.1 2,700 1.9Seattle Hill-Silver Firs 1.7 2,291 4.1 2,400 1.2Shoreline 1.5 2,393 2.9 2,400 1.5Snohomish 1.9 2,324 3 1.1South Hill 1.6 1,886 4.2 1,920 1Spanaway 1.5 1,753 5.5 1,900 1Tacoma 1.4 1,695 5.7 1,750 1.2Woodinville 2.4 2,738 0.3 1.2

Largest Neighborhoods Covered by Zillow

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Alderwood Manor 1.7 2,289 2.1 1.3Capitol Hill 2.2 2,274 -0.6 2,520 2.5Central 1.3 1,663 4.6 1,800 1.2Crossroads 1.6 2,417 1.2 1.6Downtown 2.1 2,545 0.8 2.3Eastside 1.2 1,570 4.9 1.2Finn Hill 1.6 2,576 1.5 1.4Fremont 2 2,526 0 2.1Greenwood 2 2,439 1 2,450 2Lake Hills 1.7 2,568 1.5 1.5

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Lea Hill 1.7 2,291 3 1.1Magnolia 2.4 2,959 2.2 2,900 1.8North End 1.7 1,973 1.2 1.3Northeast Tacoma 1.7 2,028 1.7 1.1South End 1.3 1,598 5.8 1,500 1.2South Tacoma 1.2 1,520 5 1.2Twin Lakes 1.6University District 2.6 2,426 2.1 1.9Wallingford 2.2 2,845 -1.4 1.9West End 1.6 1,908 2.7 1,810 1.2