Apartments for Rent in Overlake, Redmond, WA

Overlake, Redmond apartment availability

Overlake's rental market offers a very strong selection of listings, with an average of 163 rentals available each month in 2024. The majority of rentals are 1-bedroom and 2-bedroom apartments, with a smaller number of 3-bedroom apartments and studios also available. Many of these apartments offer popular amenities such as in-unit laundry, fitness centers, and outdoor spaces, making Overlake a great option for renters looking for convenience and comfort. With nearly 60% of apartments featuring outdoor spaces and over 70% offering fitness centers, Overlake is an attractive choice for renters who value an active lifestyle.

Overlake, Redmond rental market trends

The Overlake neighborhood in Redmond saw a moderate increase in rent prices last year, with an average monthly rent of $2,461 across all bed counts and property types, representing a 3.35% year-over-year increase. Breaking it down by bed count, 1-bedrooms averaged $2,366 per month, with a notable 5.87% annual increase. The average rent for 2-bedrooms was $3,168, while studios came in at $2,001.

The summer months tend to see the highest demand and prices in Overlake, with June typically experiencing the highest rent increase of 10.36% compared to December. If you're searching for a new apartment, be prepared for more competition during the summer. On the other hand, if you're looking for a better deal, consider searching in the winter, when prices are about 10% lower. December is the least competitive month, meaning you may have fewer options, but also less competition for available rentals.

Why Overlake, Redmond is a great place to live

Overlake is a top choice for renters prioritizing social living. According to 2024 data, the neighborhood's social scene thrives due to its well-designed street infrastructure, diverse age distribution, and ample shared spaces. With a strong transit frequency, residents can easily connect with friends and explore the area. Additionally, Overlake's safety record and moderate neighborhood population contribute to its appeal for those seeking an engaging community. Overall, Overlake offers an ideal blend of accessibility, community, and social opportunities, making it an attractive option for renters seeking a vibrant lifestyle.