What HUD offices serve Mercer Island, Washington?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the Washington Public Housing and Low-Income Apartments Waiting Lists page for openings near Mercer Island.
How many renters live in Mercer Island, Washington?
The City of Mercer Island has 25,464 people living in 9,782 households.
There are 6,177 renters living in 3,133 renter households in this City. Renters make up 24.26 percent of the population living in Mercer Island.
What is the rental market like in Mercer Island, Washington?
There are an estimated 10,514 housing units in the Mercer Island area. Of these, 3,363 units are rental homes, making up 32 percent of the housing market. For every renter household in Mercer Island, Washington, there are 1 rental units.
What is the vacancy rate for rentals in Mercer Island?
The rental vacancy rate in Mercer Island is 6 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Mercer Island for each bedroom size?
Occupied Rental Units by Size in Mercer Island
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 493 | 888 | 1,182 | 230 | 306 |
Occupied Rental Units by Size in Mercer Island
A large number of apartments in Mercer Island have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Mercer Island are overburdened by housing costs?
Among renter households in this market, 48 percent have housing cost burden. Further, 25 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Mercer Island
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $2,211 to $4,080. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $2,211 |
| One BR | $2,269 |
| Two BR | $2,645 |
| Three BR | $3,510 |
| Four BR | $4,080 |
2024 Fair Market Rents in Mercer Island, Washington
How many units are rented at Fair Market Rent (FMR) in Mercer Island?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Studio | 9 | 2 percent |
| One BR | 89 | 10 percent |
| Two BR | 94 | 8 percent |
Rental Units Below FMR in Mercer Island, Washington
How many affordable rental units are in Mercer Island?
There are a variety of federal affordable housing programs serving households in Mercer Island, Washington including the following:
| Federal Program | Unit Count |
| Public Housing | 17 |
| Section 8 Project-Based Rental Assistance | 59 |
Tracked Units by Federal Program in Mercer Island, Washington
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Mercer Island, Washington
Mercer Island features 59 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Mercer Island, Washington
There are 0 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Mercer Island.
Housing Choice Vouchers in Mercer Island, Washington
On average, Section 8 Housing Choice vouchers pay Mercer Island landlords $1,200 per month towards rent. The average voucher holder contributes $400 towards rent in Mercer Island.
The maximum amount a voucher would pay on behalf of a low-income tenant in Mercer Island, Washington for a two-bedroom apartment is between $2,381 and $2,910.
Sourced from federal housing data and AffordableHousingOnline.com research.
