Rent Tracker
Rent Inflation in Oak Harbor, WA
The average asking rent in Oak Harbor, WA is $2,118/month as of 2026-08. That is +5.1% compared to a year ago.
Source: Zillow Observed Rent Index (ZORI) | zillow.com/research
Current Avg Rent
$2,118/mo
as of 2026-08
Year-over-Year Change
+5.1%
24-Month Rent Trend
Monthly ZORI index values for Oak Harbor, WA.
| Month | Avg Asking Rent | Change from Prior Month |
|---|---|---|
| 2026-08 | $2,118 | +0.57% |
| 2026-07 | $2,106 | +0.62% |
| 2026-06 | $2,093 | +0.96% |
| 2026-05 | $2,073 | -0.53% |
| 2026-04 | $2,084 | +1.12% |
| 2026-03 | $2,061 | +1.03% |
| 2026-02 | $2,040 | +1.34% |
| 2026-01 | $2,013 | -0.69% |
| 2025-12 | $2,027 | -0.54% |
| 2025-11 | $2,038 | +0.30% |
| 2025-10 | $2,032 | +0.25% |
| 2025-09 | $2,027 | +0.60% |
| 2025-08 | $2,015 | -0.10% |
| 2025-07 | $2,017 | +1.10% |
| 2025-06 | $1,995 | +0.25% |
| 2025-05 | $1,990 | +1.22% |
| 2025-04 | $1,966 | +0.61% |
| 2025-03 | $1,954 | +0.72% |
| 2025-02 | $1,940 | -0.56% |
| 2025-01 | $1,951 | +0.36% |
| 2024-12 | $1,944 | -0.41% |
| 2024-11 | $1,952 | +0.51% |
| 2024-10 | $1,942 | -0.31% |
| 2024-09 | $1,948 | — |
Why Rent Inflation Matters
Shelter is the single largest component of the official CPI, accounting for roughly one-third of the index. But the BLS shelter index tends to lag real-market rent changes by 12–18 months because it measures rents paid by all tenants — including long-term renters locked into old leases. ZORI measures asking rents for new leases, making it a timelier signal of where CPI shelter inflation is headed.
When ZORI is rising sharply in your city, it is a leading indicator that official shelter inflation — and therefore overall CPI — will remain elevated in coming months.
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Data Source
Rent data uses the Zillow Observed Rent Index (ZORI), a smoothed measure of typical market-rate asking rents updated monthly by Zillow Research. ZORI covers single-family homes, condos, and co-ops and reflects asking rents for new leases — making it a more timely indicator than the lagged BLS shelter index. zillow.com/research | Money & Prices