Kidder Mathews has released its Q1 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.
“While transaction volume remains below historical norms, market activity and leasing momentum are beginning to improve heading into the second half of the year,” said Frame. “Vacancy and operating costs continue to shape investor decision-making, but pricing has started to stabilize and the market appears to be finding firmer footing.”
Key insights from the study include:
- Transaction activity slowed to start the year, with 14 apartment sales totaling $33 million in Q1 2026, compared to 31 sales totaling $152 million in Q4 2025.
- Spokane remained the most active market in Eastern Washington, accounting for eight of the region’s 14 sales, followed by the Tri-Cities with three sales.
- Vacancy emerged as a more prominent discussion point across the market, with operators experiencing the first meaningful vacancy increases seen in recent years.
- Pricing continued to stabilize in Q1 2026, with cap rates holding at 6.5%, suggesting the broader market reset may be nearing completion.
Download the Q2 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 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 54 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