Kidder Mathews has released its Q1 2025 Eastern Washington Apartment Market Dynamics report — offering an in-depth look at trends and the latest sales data across 20 counties including Spokane, Benton, Franklin, Chelan, and Yakima. The report provides valuable insights on each submarket to help guide investment decisions.
The study was researched and compiled by Vice President Max Frame of Kidder Mathews’ multifamily team led by Dylan Simon and Jerrid Anderson. Download a digital copy of the Q1 2025 Eastern Washington Apartment Market Dynamics report here.
“The Eastern Washington apartment market continues to heat up, with sales activity accelerating and total transaction volume surging,” said Frame. “Spokane remains the most active submarket, while the Tri-Cities led in total sales volume, signaling increased investor confidence.”
Key insights from the report include:
- Sales Momentum Continues
Total sales increased 38%, and total sales volume jumped 138% from the first half of 2024 to the second, reflecting stronger alignment between buyer and seller expectations. - Rent & Vacancy Trends
The average rent in Eastern Washington sits at $1,328, while vacancy remains elevated at 8.3% — driven largely by recent new construction deliveries. However, with a shrinking development pipeline, vacancy rates are expected to ease, potentially boosting rent growth. - Large-Scale Sales Activity
The market saw a continued resurgence in 50+ unit property transactions, reinforcing investor demand for stabilized, income-generating assets.
About Max Frame
Working out of Kidder Mathews’ headquarters in Seattle, Washington, Max specializes in representing sellers and buyers in the sale of Eastern Washington apartments. Born and raised in Eastern Washington, Max combines his local knowledge and expertise of these markets with Kidder Mathews’ national exposure and outreach. Max works with Executive Vice Presidents Dylan Simon and Jerrid Anderson of the Simon and Anderson team.
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 13 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, Idaho, 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 58 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
Max Frame, Vice President
Elijah Piper, Vice President
JD Fuller, Associate
Jack Shephard, Associate
Tony Herrmann, Associate
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