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Studio Apartments for Rent in Olympia, WA

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  • /19

    Starting at $1,450 Per Month

    • Studio - 2 Beds

    512 Franz Anderson Rd SE, Olympia, WA 98501

    ** NOW LEASING! **** NO ADMIN FEES**Hearthstone Place is a 58 unit, 3 story, fully secure apartment building!This property is minutes away from Downtown Olympia and lots of shopping centers and schools. The property itself offers an array of amenities to fit modern living. At the community we offer reserved parking stalls, community WIFI, fitness center, game room,

    Hearthstone Place

    512 Franz Anderson Rd SE, Olympia, WA 98501
  • /72

    Starting at $1,375 Per Month

    • Studio - 2 Beds

    401 Union Ave SE, Olympia, WA 98501

    Where heritage meets the city horizon!Introducing 401 Union Apartments, a striking new presence in downtown Olympia— 70 thoughtfully designed residences nestled between the calm of evergreen trees and sweeping views of the waterfront and Capitol campus in some of the top floor units.The timeless brick exterior and distinctive Mansard roofline allow for more headroom in the top

    401 Union

    401 Union Ave SE, Olympia, WA 98501
  • /36

    Starting at $1,250 Per Month

    • Studio - 2 Beds

    310 Capitol Way, Olympia, WA 98501

    Market Flats

    310 Capitol Way, Olympia, WA 98501
  • /100

    Starting at $1,425 Per Month

    • Studio - 4 Beds

    4520 Henderson Blvd SE, Olympia, WA 98501

    Thanks for checking out Silver Leaf Residences. We are a locally owned and professionally managed community in Olympia, WA. Silver Leaf Residences is conveniently located in a welcoming neighborhood designed for the 55+ lifestyle, close to shopping, dining, and recreational amenities. We have 1-, 2-, and 3-bedroom apartment homes. Our units are a great value featuring air conditioning, in-unit

    Silver Leaf Residences 1

    4520 Henderson Blvd SE, Olympia, WA 98501
  • /57

    Starting at $1,400 Per Month

    • Studio - 2 Beds

    5001 College St SE, Lacey, WA 98503

    Military Discount 5% $100 Security Deposit OACFREE INTERNET & CABLE TV !Pickle ball coming SOON!Pet Spa is now Open! There is no charge to use the pet spa! Residents can bring furry family members for an easy wash and dry!Welcome to Lacey Park Apartments! Conveniently located near shopping, pharmacy, food centers, schools, a main bus line, and a trail head. We are

    Lacey Park Apartments

    5001 College St SE, Lacey, WA 98503
  • /31

    Starting at $1,233 Per Month

    • Studio

    2402 Lakeridge Way SW, Olympia, WA 98502

    Thanks for checking out Westwater Village Apartments. We are a locally owned and professionally managed community in Olympia, WA. Westwater Village is conveniently located overlooking Capitol Lake and downtown Olympia, offering beautiful views and easy access to city amenities. We have studio and one-bedroom apartment homes. Our units are a great value featuring brand new modern interiors, quartz

    Westwater Village

    2402 Lakeridge Way SW, Olympia, WA 98502
  • /57

    Starting at $1,425 Per Month

    • Studio - 1 Bed

    410 5th Ave, Olympia, WA 98501

    At Views on Fifth, we are committed to delivering unparalleled customer service in the apartment management community. Our mission is simple to go above and beyond for all our residents, ensuring you feel proud to call Views on Fifth your home.Our community reflects the essence of modern, luxurious living. With apartments that feature floor-to-ceiling windows that flood your space with

    Views on Fifth

    410 5th Ave, Olympia, WA 98501
  • /35

    Starting at $1,797 Per Month

    • Studio - 2 Beds

    4701 7th Ave SW, Olympia, WA 98502

    Welcome to Affinity at Olympia, where life for the 55+ crowd is anything but ordinary! Here, we redefine what it means to live actively and passionately. Our community buzzes with vibrant energy, offering a family-like atmosphere where you and your furry friends feel right at home. Enjoy and play in over 30,000 square feet of social and activity space, including weekly happy hour at our very own

    Affinity at Olympia 55+

    4701 7th Ave SW, Olympia, WA 98502

Why Live in Olympia

Olympia's waterfront location on Puget Sound creates an outdoor paradise with the 3.5-mile Percival Landing boardwalk providing stunning views of the Olympic Mountains. The Washington State Capitol Campus stands as the city's crown jewel, welcoming visitors to tour its Legislative Building and State Reception Room. Nature lovers enjoy hiking and beach access at Priest Point Park, while the Capitol Forest provides extensive trails for hiking, biking, and horseback riding. The Washington Center for the Performing Arts hosts regular shows downtown, complementing cultural attractions like the Squaxin Island Museum and the outdoor Monarch Sculpture Park with its collection of over 100 contemporary pieces.

The median price for single family homes in Olympia is $590,000, with prices varying significantly by neighborhood. South Capitol commands the highest median prices at $620,000, while West Bay Drive homes have a median price of $382,500. Condominiums present a more affordable option, with one-bedroom units at a median price of $222,000 and two-bedroom units at $340,000. Townhomes fall in between with a median price of $415,200.

Living costs in Olympia run 12.4% above the national average. A family with school-age children needs approximately $119,000 annually to live comfortably, while renters should aim for $67,000. Monthly grocery costs average $1,600 for families and $700 for renters. Housing expenses typically reach $2,900 monthly for families and $2,600 for renters. The combined sales tax rate is 9.43%, while property taxes sit at 0.9%. Gasoline costs $4.221 per gallon, 30% above the national average. The public school system includes highly rated institutions like Pioneer Elementary School and Olympia High School, plus private options such as NOVA Middle School, which received an A+ rating from Niche.

Frequently Asked Questions

How much does it cost to rent a home in Olympia, WA?
The median rent for a home in Olympia, WA is $2,747 per month, though prices vary by neighborhood, size, and property type. As of September 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Olympia, WA?
To comfortably afford the median rent in Olympia, WA, a household needs to earn roughly $109,880 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $2,747 per month in Olympia, WA, renters typically need to show $8,241 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Olympia, WA?
In Olympia, WA, the price-to-rent ratio is 17.1, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.

Rental Home Trends

Number of Homes for Rent
8
Median Rent
$2,747
Median Single Family Home Rent
$2,910
Median Townhouse Rent
$2,438
Median Condo Rent
$1,895
How to Rent a Home