Kidder Mathews has released its Q2 2026 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. Compiled by Vice President Max Frame of Kidder Mathews’ Simon | Anderson Multifamily Team, the study provides valuable insights on each submarket to help guide investment decisions.
“As the market continues to stabilize, buyers are placing greater emphasis on in-place operations and property performance,” said Frame. “With Washington State’s rent caps now in place, maintaining rents at or within striking distance of market levels is more important than ever, and with vacancy still elevated, effective marketing and leasing execution have become a bigger differentiator for owners.”
Key insights from the study include:
- Transaction activity picked up in the second quarter, with 19 apartment sales totaling $76 million in Q2 2026, up from 14 sales totaling $33 million in Q1 2026.
- Spokane remained the most active market in Eastern Washington, accounting for eight of the region’s sales in Q2 2026, followed by Yakima County with five sales and Wenatchee Valley with three.
- Vacancy continued to ease, falling to 7.7% in Q2 2026, down 10 basis points from Q1 2026 and 90 basis points from a year earlier.
- Continuing a two-year stabilization trend, cap rates compressed to 6.2%, down 30 basis points from Q1 2026’s 6.5%.
Download the Q3 2026 Eastern Washington Apartment Market Dynamics report here.
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 15 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 20 offices across Washington, Oregon, California, Nevada, Arizona, and Texas. 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 55 million square feet of space, and conducts nearly 2,700 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
Max Frame, Vice President
Dylan Simon, Executive Vice President
Jerrid Anderson, Executive Vice President
Matt Laird, First Vice President
Elijah Piper, Vice President
Matt Johnston, Vice President
JD Fuller, Associate
Jack Shephard, Associate
Tony Herrmann, Associate
Keagan Barnwell, Associate