Apartments & Homes for Rent in University Place, WA

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What to Know About

Life in University Place & Beyond

University Place shares many of the great qualities that make Washington a desirable place to live.

Washington is home to the famous Cascade Mountains and the Olympic Mountains mountain range. From its breathtaking landscapes to its thriving economy, there's something for everyone in this vibrant state. First, explore its rich history and culture by visiting museums such as the Museum of Pop Culture and the Burke Museum of Natural History & Culture. Then, take your education to the next level at prestigious universities like the University of Washington and Washington State. Washington's economy is diverse and robust, driven by key industries such as technology, agriculture, and manufacturing.

There's no shortage of ample opportunities for adventure and excitement. From exploring the stunning trails of Mount Rainier National Park to fishing in the picturesque Puget Sound, nature enthusiasts will be in their element. And sports fans will enjoy cheering for Seattle Seahawks (NFL), Seattle Kraken (NFL), and Seattle Mariners (MLB) and supporting their favorite college teams. Discover famous attractions like the Space Needle, the Pike Place Market, and the historic city of Seattle.

A hub of innovation and creativity, Washington is a great state offering endless opportunities, which makes it a great place to live.

Rental Market Trends

University Place, WA

As of April 2025, University Place's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. University Place's average rent is 25.8% ($442) higher than the Washington average of $1,716 and 20.0% ($359) higher than the U.S. average of $1,799.

Average Rent
$2,158
Monthly ChangeMonth Over Month Change
Decreased0.1% ($3)
Yearly ChangeYear Over Year Change
Increased17.9% ($328)
Avg. Days on MarketAverage Days on Market
31
Unit Type Average Rent Monthly ChangeMonth Over Month Change Yearly ChangeYear Over Year Change
1 Bed $1,702 Increased1.7% ($29) Increased22.3% ($310)
2 Beds $2,045 Increased0.2% ($4) Increased23% ($383)
3 Beds $2,672 Increased1% ($27) Increased27.2% ($572)
Nearby Cities Average Rent Avg. Rent vs. University PlaceAverage Rent vs. University Place Avg. Days on MarketAverage Days on Market
Lakewood $1,566 Decreased27.4% ($592) 37 days
Steilacoom $1,392 Decreased35.5% ($766) 33 days
Tacoma $1,471 Decreased31.8% ($687) 33 days
Anderson Island $2,062 Decreased4.4% ($96) 31 days
Fife $1,607 Decreased25.5% ($551) 33 days
Rental market trends are calculated using listing data from RentalSource.
Frequently Asked Questions
University Place Rental Market FAQs

Explore rental prices, market trends, and availability in University Place, WA.

The average rent in University Place, WA is $2,158 per month.
Homes in University Place typically rent for between $1,191 and $3,474 per month, with an average of $2,158 per month.
In University Place, the average rent for a 1-bedroom home is $1,702 per month, for a 2-bedroom home, $2,045 per month, and a 3-bedroom home is $2,672 per month.
The average rent in University Place is 20% ($359) higher than the national average of $1,799 per month.
The average rent in University Place has decreased by 0.1% ($3) in the last month and increased by 17.9% ($328) over the past year.
The rental market in University Place, WA, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.
In University Place, WA, the average rental stays on the market for approximately 31 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.
There are currently 7 rental properties available in University Place, WA.
Based on the current averages, a household would need an annual income of $81,800 to comfortably afford a 2-bedroom home in University Place.
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