Sell Your Commercial Property In Everett, WA

Who rents in Everett

Everett is a majority-renter city. The 2020–2024 American Community Survey counts 111,845 residents and 44,647 occupied homes, of which 22,792 (51.0%) are rented. The median household income is $83,512, and the median gross rent is $1,740 a month.

Boeing is the anchor employer. More than 30,000 people work at Boeing Everett, where the company has built the 747, 767, 777 and 787, according to Boeing. The main assembly building covers 98.3 acres. A workforce that size supports rental demand across the city and nearby Mill Creek, and it also ties Everett leasing to Boeing’s production rates and hiring cycles. Naval Station Everett and Providence Regional Medical Center Everett add military and healthcare renters.

Rents and affordability

Everett is in HUD’s Seattle-Bellevue FMR area, together with King County, so its voucher benchmarks are set at Seattle-area levels while local rents are lower:

The two-bedroom FMR is $761 above Everett’s median rent, so voucher-backed tenancies can pay at or above local market levels. At the same time, 53.4% of Everett renter households spend 30% or more of income on rent, and 22.6% spend half or more. Renewal increases have limited room, and collections matter.

The apartment stock

Of 47,689 housing units in ACS table B25024, 16,923 (35.5%) are in buildings with five or more units. They are spread across sizes: 3,379 units in 5–9 unit buildings, 4,505 in 10–19 unit buildings, 3,583 in 20–49 unit buildings and 5,456 in buildings of 50 or more, which is 11.4% of all homes. Everett also has a large small-multifamily segment: duplexes through fourplexes hold 5,373 units, 11.3% of the stock. Detached houses make up only 44.2%. The median year built is 1981.

Our Everett page covers Downtown Everett, Silver Lake, Casino Road and Mill Creek. Units with a certificate of occupancy issued within the past 12 years are exempt from the state rent cap under RCW 59.18.710, so newer buildings can reset rents while older complexes cannot.

Property taxes in Snohomish County

The Snohomish County Assessor values apartments at market value, revalues every year and inspects at least every six years under RCW 84.41.041, with no per-parcel cap. Appeals go to the county board of equalization by July 1 or within 30 days of the value notice, or a longer county-set window, per RCW 84.40.038.

The county’s 2026 levy report lists the City of Everett at $1.47314 per $1,000 plus a $0.36199 EMS levy, for $1.83514. Everett School District No. 2 adds $3.68582 across bonds, capital projects and enrichment, the state school levy adds $2.24484, the county $0.48298, the Port of Everett $0.18120 and Sound Transit $0.15866. Together those come to about $8.59 per $1,000, or about $25,766 a year on a building assessed at $3 million. Mill Creek’s city levy, by comparison, is $0.70003. The county’s average 2026 rate is $8.19417, down from a typical $8.2776 in 2025, according to Snohomish County. Countywide taxable value rose from $223 billion to $237 billion, while total taxes rose 5.26% to $1.948 billion. Rates fell because values grew faster than levies, but individual bills still went up for many owners.

Sellers usually pay Washington’s graduated real estate excise tax. For 2026 closings, the state portion is 1.10% up to $525,000, 1.28% up to $1,525,000, 2.75% up to $3,025,000 and 3.0% above, plus local REET. The thresholds rise on January 1, 2027.

Landlord rules

• State rent cap. Increases are limited to 7% plus CPI or 10%, whichever is lower, with 90 days’ notice and no increase in the first year of a tenancy, per the Attorney General. The cap is 9.683% for 2026 and 10% for 2027.
• No local rent control. RCW 35.21.830 bars Everett from setting its own cap.
• Deposits. An itemized statement and refund are due within 30 days of move-out under RCW 59.18.280, and intentional refusal can cost up to twice the deposit.
• Nonpayment. A 14-day pay-or-vacate notice is required under RCW 59.12.030.

What this means if you own a building here

Everett buyers price two things closely: how exposed a rent roll is to Boeing’s production cycle, and how much room a stretched tenant base leaves under the state cap. The high HUD benchmark can support voucher leases, but most value rests on in-place rents and collections. With an Everett levy subtotal near $8.59 per $1,000 and no assessment cap, buyers will model taxes on their purchase price. Start with an accurate net operating income and test pricing with our cap rate calculator. Skyline Capital buys 5+ unit buildings in Everett and Mill Creek, stabilized or distressed. Our seller page explains how we make offers.