Rents have been flat for four years. Inflation has not.

Here is a number every apartment owner should know: had Puget Sound rents simply kept pace with inflation since 2022, they would be $300 higher per month today.

That gap has not closed. But after another year of flat rates, owners are ready to see something they have not seen in some time, growth.

In San Francisco, there is a preview of what may be coming next for Puget Sound.

Watch the full update to see what is changing and why the second half of 2026 could look very different from the first.