Bellevue’s housing market is experiencing notable shifts, reflecting broader regional trends. As of March 2026, the median sale price for homes in Bellevue was $1.5 million, marking a 6.7% decrease from the previous year. Homes are selling swiftly, averaging 8 days on the market, with 133 homes sold in March, a 14.7% increase from the same month last year.
Rental rates in Bellevue remain higher than the national average. As of April 2026, the average rent in Bellevue was $2,688, compared to the national average of $1,930.
Several developments are underway to address housing needs. The Altaire at East Main project plans to offer 146 income-restricted units, with construction anticipated to begin in March 2027. Additionally, the Bellevue City Council has committed $12.1 million to Imagine Housing’s Forest Edge project, a 100-unit affordable housing development in the Lake Hills neighborhood.
These developments aim to provide more affordable housing options in Bellevue, addressing the ongoing demand in the area.