The average monthly rent of apartments in Olympia, WA is $1,723.
About 54% of apartment rents in Olympia, WA range between $1,501-$2,000. Meanwhile, apartments priced over > $2,000 represent 20% of apartments. Around 24% of Olympia’s apartments are in the $1,001-$1,500 price range. 2% of apartments are priced between $701-$1,000.
Compared to the national average rent of $1,718, the average rent in Olympia, WA is $1,723.
Prices and availability in Olympia, WA were last updated on 18 Mar 2024.
The best apartment in Olympia, WA is: North West Home 02.
In Olympia, 52% of the residents are renting compared to 48% owning a home, according to data from the U.S. Census Bureau. Large-scale apartment buildings with more than 50 units represent 19% of Olympia’s rentals, 58% are small-scale complexes with under 50 units, and 21% are single-family rentals.
The average age of rental buildings in Olympia is 29 years old, with 37% being newer apartment buildings completed since 2000. The average height of apartment buildings in the city is 3 stories, of which 94% are garden-style apartment communities, 10% are mid-sized buildings, and none are high-rises. These characteristics describe large-scale apartment communities of 50 apartments or more.
Rental apartments in Olympia come in a range of sizes and floorplans. Studio apartments represent 7% of units for rent, ideal for singles, renters on a budget and people who value central locations more than space. Rentals with 1-bedroom floorplans make up 38% of the total apartments in the city, while 2-bedroom floorplans represent around 44% of all rentals in Olympia. The rest are larger floorplans with 3 bedrooms or more, typically preferred by families, larger households or roommates sharing space.
Located on the southern end of the Puget Sound, Olympia is the capital of Washington state. It’s known for its historic downtown area and its vibrant waterfront area. Olympia is also one of the oldest towns in Washington and the downtown historic district has a number of buildings dating all the way back to the early 20th century. Many renters in Olympia enjoy walking around the historic district, which is known for its restaurants and brewpubs. The downtown area also has a thriving visual and performing arts scene. Many Olympia renters also enjoy spending time outdoors. That’s because the Olympia area has very mild weather year-round, with warm summers, cool winters and a lack of extreme temperatures. Olympia is located directly on the Puget Sound and Capitol Lake, so there are several waterfront parks and a large marina. Notably, many renters in Olympia move to the area to work for the state government, which provides thousands of jobs to the surrounding area.
There are a wide variety of rental options in Olympia, whether you’re looking for a cozy, single-family home; a townhouse; or an apartment. In particular, Olympia has a walkable downtown area with many mid-rise apartment complexes and townhomes, as well as many other neighborhoods with a more traditional, suburban feel. Here, there’s a mix of newer apartments with modern amenities, as well as smaller, older apartments. Note that, due to Olympia’s mild summer weather, not all apartments have air conditioning. Additionally, Olympia’s rental market can be quite competitive, and rent prices are higher than the national average. However, rents in Olympia tend to be lower than in nearby Seattle. Renters in Olympia can also expect to complete a credit check during the application process and pay a security deposit.
Renters in Olympia have many different shopping options to choose from: The Capital Mall is the largest shopping center in the area and is located on the west side of town. This mall contains popular department stores like JCPenney and Macy’s, as well as a variety of other clothing boutiques and specialty stores. Meanwhile, the area around the mall contains many other popular stores, including Target, Ross and HomeGoods. There are also grocery stores nearby, such as Trader Joe’s, Safeway and Grocery Outlet. Otherwise, in downtown Olympia, residents will find a variety of independent shops selling fashion, art, home goods, outdoor supplies and more. There are also many local food markets here. For instance, the Olympia Farmer’s Market is also situated right in the downtown area and sells fresh food and other products throughout the year.
Driving is a popular choice for renters in Olympia, but it isn’t the only way to get around town. For example, Olympia is a bike-friendly city, and there’s also a reliable bus system that runs throughout the city. These buses also connect with regional transit options that provide service to Tacoma, Seattle and other nearby cities. Amtrak also has a station in Olympia where renters can access trains throughout the U.S. Despite public transit options, many renters do opt to drive so they can access nearby hiking and camping sites. As a result, many apartments offer parking options to accommodate those who drive. For these renters, Interstate 5 runs through Olympia, which speeds up travel time to nearby cities.
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