Washington Apartment Outlook - A Member Recap

BELLEVUE, WA – The Washington Multi-Family Housing Association (WMFHA) proudly hosted its 21st annual Washington Apartment Outlook (WAO) last week, drawing more than 500 of the region’s premier multi-family housing leaders and strategists. The highly anticipated event served as a key platform for analyzing the latest economic and housing trends, highlighted by expert insights from esteemed industry partners Matthew Gardner and Dylan Simon.

On the morning of September 18, 2025, the WMFHA family gathered in Bellevue sharing hugs, laughter, and a deep sense of gratitude. It was a chance for our industry to come together, leaders, advocates, and peers, united by a shared commitment to strengthening housing in Washington.

 We were honored to welcome special guests into the building:

• Jared Mead, Snohomish County Councilmember
• Claire Sumadiwirya, Bellevue City Councilmember

The 2025 Emerging Leaders Cohort was proudly recognized, underscoring WMFHA’s investment in the next generation of leadership. This cohort reflects our industry’s future—bright, bold, and ready to make an impact.

Advocacy in Action

Nick Marin, Executive Director of WMFHA, set the tone with a strong start, highlighting both progress and challenges.

• Bolster stakeholder presence in Olympia
• Fight harmful impacts of rent control.
• Provisions within HB 1217 that restrict housing providers, including the inability to offer shorter leases

WMFHA’s advocacy efforts in 2025 are laser-focused, remodeling from member focused to customer focused. Nick urged everyone to send in testimony as providing more experience will help amplify the housing provider voice.

• Rent control campaign and education
• Day on the Hill—with 80–90 meetings strengthening relationships statewide
• Fixing HB 1003 (notice by mail) to reduce administrative burden
• Pursuing statewide preemption and eviction reform
• Supporting HB 1216, which adds more court commissioners
• Expanding the WMFHA PAC and launching a new model of advocacy
  
  

Sheri Druckman, WMFHA Government Affairs Committee Chair, reminded members that advocacy is not just a responsibility, but a cornerstone of preserving housing opportunity.

Legislators of the Year 2025

Sheri was proud to present the honor to Representative Amy Walen (D-Kirkland) and Senator John Braun (R-Centralia) as Legislators of the Year. Both stood firm against harmful rental regulations and demonstrated the bipartisan spirit our industry needs.

• Rep. Amy Walen (D-Kirkland) expressed gratitude to WMFHA, reminding us that compassion starts with one of the most human needs: a home.
• Sen. John Braun (R-Centralia) spoke with courage about the difficulty of standing up to a roomful of friends and colleagues when standing up for housing providers, reminding us: “Thos who stand for nothing, fall for anything.”

Economic Insights: Matthew Gardner

Matthew Gardner, Principal at Gardner Economics, delivered an insightful (and often humorous) look at the national and local economy.

Key takeaways:

• Consumer confidence is low, leading to inaction that hinders growth
• Labor market: fewer openings, fewer quits, but layoffs are increasing
• No recession baseline: 2025 will remain below par, but 2026 looks brighter
• Washington State:
  
  
• 100,000+ new jobs
• 30% office vacancy
• Construction worker shortages
• AI investments reshaping industries

Gardner noted that the cost of living remains the biggest component of salaries, housing is the state’s top challenge, and double incomes of $187,000 are now required to afford a home in 2025. Or, as he put it: “Poppycock.”

Keeping the room entertained and informed sprinkled with his humorous quip. His final message: “Seattle will always come back!" 

Market Outlook: Dylan Simon

Dylan Simon, Executive Vice President at Kidder Mathews, shared regional market trends, focusing on urban King County, East King, Spokane, and beyond.

Highlights included:

• Urban King County rent growth at 9.6%
• East King County rent growth at 25%
• Spokane showing healthy growth, though no new deliveries

Simon echoed Gardner’s forecast that 2026 will “suck less,” and emphasized the importance of quality locations and legacy assets, even as deferred maintenance looms for many owners.

The duo ended with audience Q&A, tackling everything from tariffs to stagflation (a term Dylan admitted was new to him, much to Gardner’s delight). When asked who would win the Apple Cup, both economists were—for the first time—speechless.

Final Thoughts

This year’s gathering was filled with gratitude, courage, and clarity. The message was consistent across all speakers: housing is the defining issue of our time. With leaders like WMFHA members, legislators, and advocates standing together, we are building a stronger, more sustainable future for Washington housing.