Rental market slowly loosening in Grant County

MOSES LAKE — The rental market in Grant County is slowly thawing as more inventory comes into the market. 

“Vacancies have slowly risen in the first and second quarters of 2025 in the apartment segment,” said Jeff Foster, designated broker at Windermere Property Management in Moses Lake. “Properly priced houses are renting as fast as we can get them on the market.” 

Vacancy rates in Washington and nationwide have fluctuated slightly but generally decreased between 2005 and 2023, according to U.S. Census data tabulated by Eastern Washington University’s Grant County Trends website. Grant County’s vacancy rate, however, has bounced from a high of 14.2% in 2009 to 0.8% in 2021, according to that data. 

The vacancy rate for apartments in Grant County was 4.9% for the first quarter of 2025, according to a study by the Washington Center for Real Estate Research, a research arm of the University of Washington. That represents a 0.2% increase over a year earlier, according to WCRER data. No data was available for Adams County, nor did WCRER give data for single-family rental units. 

Statistics can vary widely depending on the source of the data, Foster cautioned. He estimated Windermere’s vacancy rate at about 8.5% for both apartments and single-family dwellings Wednesday, although it could be lower because some units were in various states of repair, he said. Windermere manages 700-plus units, according to Property Manager Cherie Demmer. 

Rent costs have risen faster than vacancy rates, according to the WCRER information. Average rent in Grant County was $1.34 per square foot, an increase of 0.8% from the same time last year but a significant decrease from $1.47 per square foot in the third quarter of 2022, the first year in which separate Grant County data was available. The rest of the state did not fare as well; the average rent level in the first quarter of 2025 was 2.03% higher than the same time in 2024. The highest average rent per square foot in 2025 was in King County, at $2.73, and the median price statewide is $1.76 per square foot according to rentdata.com.  

Windermere’s vacancies have seen some increase lately, Foster said, though not huge. In large part, he said, the increase is simply because construction has boomed in Moses Lake. 

“The demand catches up as they’re being built,” Foster said. 

    FOSTER