Kidder Mathews’ Simon | Anderson Multifamily Team, led by Dylan Simon and Jerrid Anderson, has released its annual study on the Seattle and Puget Sound microhousing market.
“Microhousing fundamentals remain strong in an otherwise flat residential market,” said Anderson. “As supply pipeline declines across the greater Seattle market, microhousing is primed for outsized rent growth in the near term.”
Key insights from the report include:
- Rents down, occupancy up
Microhousing rents are slightly down year-over-year, but occupancy is up—signaling rent growth on the horizon. With the supply pipeline shrinking across Greater Seattle, microhousing is positioned for near-term rent gains. - Variation in submarket performance
Overall fundamentals point to future rent growth, but performance varies by submarket. The first to see rent increases will likely be those with strong occupancy and limited incoming supply. - Waning pipeline across the board
Both microhousing and market-rate development pipelines have slowed sharply after heavy deliveries over the past 18–24 months. As market-rate studios absorb and rents rise, more renters will turn to micros as a budget-friendly alternative.
Download the full 2025 Seattle & Puget Sound Micro Report here.
About the Simon | Anderson Multifamily Team
The apartment brokerage team led by Dylan Simon and Jerrid Anderson of Kidder Mathews represents apartment investors, developers, and landowners in the sale and purchase of apartment buildings and development land across the entire State of Washington. The team of 12 brokerage professionals specializes in the sale and purchasing of apartment buildings and development land from $1 million to more than $100 million. For more information, visit simonandersonteam.com.
About Kidder Mathews
Kidder Mathews is the largest fully independent commercial real estate firm in the Western U.S., with over 900 professionals in 19 offices across Washington, Oregon, California, Nevada, and Arizona. We offer a complete range of brokerage, appraisal, asset services, consulting, and debt & equity finance services for all property types. Kidder Mathews averages $9 billion in transaction volume, manages more than 53 million square feet of space, and conducts 2,400 appraisal, consulting, and cost segregation assignments annually. For more information, visit kidder.com.
Read the full report at the link below.
Contact
Simon | Anderson Multifamily Investments Team
Dylan Simon, Executive Vice President
Jerrid Anderson, Executive Vice President
Matt Laird, First Vice President
Matt Johnston, Vice President
Max Frame, Vice President
Elijah Piper, Vice President
JD Fuller, Associate
Jack Shephard, Associate