Rent by ZIP · King County
Rent in Mercer Island, WA 98040
HUD's FY2027 Small Area Fair Market Rent for a 2-bedroom here is $3,010 (-0.3% vs FY2026). Renters in this ZIP code pay a median $2,502 a month, including utilities.
Rent by number of bedrooms
| Size | SAFMR FY2027 | FY2026 | Change | Typical voucher range | Census median rent |
|---|---|---|---|---|---|
| Studio | $2,470 | $2,500 | -1.2% | $2,223–2,717 | $2,156 ±$286 |
| 1 bedroom | $2,570 | $2,590 | -0.8% | $2,313–2,827 | $2,261 ±$173 |
| 2 bedrooms | $3,010 | $3,020 | -0.3% | $2,709–3,311 | $2,929 ±$321 |
| 3 bedrooms | $3,920 | $3,950 | -0.8% | $3,528–4,312 | $3,500+ |
| 4 bedrooms | $4,670 | $4,650 | +0.4% | $4,203–5,137 | $3,500+ |
Small Area FMRs for the Seattle-Bellevue, WA HUD Metro FMR Area. Fair Market Rents include utilities. The voucher range is the typical 90–110% band; your housing authority sets the actual payment standard.
Area-wide FMR for Seattle-Bellevue, WA HUD Metro FMR Area, 2 bedrooms: $2,549.
What renters pay in 98040
How rents are spread
Share of renter households paying cash rent, by monthly gross rent (rent plus utilities).
Nearby ZIP codes
| ZIP | Place | 2-bedroom FMR | Census median, 2 bedrooms |
|---|---|---|---|
| 98039 | Medina | $3,280 | – |
| 98038 | Maple Valley | $2,900 | $2,289 |
| 98042 | Kent | $2,640 | $2,044 |
| 98037 | Lynnwood | $2,330 | $1,889 |
| 98043 | Mountlake Terrace | $2,420 | $2,127 |
| 98036 | Lynnwood | $2,170 | $1,868 |
Fair Market Rents across King County, WA · All WA counties · What is Fair Market Rent?
Sources: HUD Small Area and county Fair Market Rents, FY2027 (effective October 1, 2026); U.S. Census Bureau, 2020–2024 ACS 5-year estimates. Census figures are survey estimates (±90% margin of error) and trail today's market. Place name from GeoNames. About the data.