Short answer: In Seattle, WA, the median home value is $950,800 and the median 3-bedroom rents for $2,951/mo (Census ACS 2024). That's a rent-to-price ratio of 0.31%, so it misses the 1% rule and ranks #44 of the 50 largest US rental markets. With 20% down at 7.40%, FirstDoor scores a median-priced home Pass (−$3,897/mo cash flow).
Key numbers
The 1% rule in Seattle
Before running a full analysis, many investors check whether rent is at least 1% of price. This is where Seattle lands.
Across all rentals (not just 3-bedrooms) the ratio is 0.21%. A home renting for the median 3-bedroom rent would need to cost about $295,000 or less to pass.
A typical Seattle home, scored
We took a home at the median value, gave it the median 3-bedroom rent, and ran it through the same math as the FirstDoor calculator: 20% down, a 30-year loan at 7.40%, the city's median tax rate, and standard expense budgets.
| 3-bedroom rent (median) | $2,951 |
| Property tax ($7,503/yr, local median) | −$625 |
| Insurance ($4,750/yr, assumed) | −$396 |
| Vacancy 6% · Maintenance 5% · Management 8% | −$561 |
| Net operating income | $1,369 |
| Mortgage (P&I on $760,640 at 7.40%) | −$5,267 |
| Monthly cash flow | −$3,897 |
What price works in Seattle?
Price is the lever you control. Holding rent at the Seattle median, these are the price ceilings for each FirstDoor result.
Takeaways
- Seattle's 0.31% ratio is far below the 1% rule (#44 of 50). Most investors here are betting on appreciation, not monthly income.
- A median-priced home here would cost you about $3,897/mo out of pocket after the mortgage and every expense. To break even you'd need to pay about $361,000, 62% below the median.
- Prices are outrunning rents: home values rose 5.8% from 2023 to 2024 while 3-bedroom rent fell 4.2%. The 1% math got tougher.
- Renters are the majority here (58% of households), so the tenant pool is deep.
Frequently asked questions
Does Seattle pass the 1% rule?
No, on typical numbers. The median 3-bedroom gross rent is $2,951/mo and the median home value is $950,800 (Census ACS 2024 1-year), a ratio of 0.31%. To pass at that rent, a home would need to cost about $295,000 or less.
What is the typical rent for a 3-bedroom in Seattle?
The median gross rent for a 3-bedroom in Seattle, WA is $2,951 a month, and $2,007 across all rentals (Census ACS 2024 1-year). Gross rent includes utilities the renter pays, so the landlord's share can be a bit lower. The 3-bedroom median fell 4.2% from 2023.
Can you cash flow a rental in Seattle?
At the median price, not easily. With 20% down at 7.40% and realistic expenses, a $950,800 home renting for $2,951 loses about $3,897/mo. It breaks even at roughly $361,000.
How much cash do you need to buy a typical rental in Seattle?
About $218,660: a 20% down payment of $190,160 plus closing costs we assume at 3% ($28,500). Lenders often also want several months of reserves. Investment loans commonly need 15–25% down.
Is Seattle a good place to buy a first rental?
FirstDoor scores a median-priced home in Seattle as Pass (0 of 8 points). That's a starting point, not a verdict on every listing: neighborhoods vary, and buying below the median changes the math. Run any listing through the free calculator.
Compare similar markets
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Sources
Data: U.S. Census Bureau, 2024 American Community Survey 1-year estimates (released September 2025); year-over-year changes compare with 2023. Mortgage rate: Freddie Mac PMMS, week of October 15, 2026. Retrieved October 15, 2026. Insurance ($4,750/yr), closing costs (3%), maintenance (5%) and management (8%) are FirstDoor assumptions, not local data. Investment-property loans often price above the PMMS average. Medians describe the whole city, not any one home. Educational content, not financial advice.