"At times of economic instability and uncertainty, renters need predictability and stability in their housing costs," State Senator Yasmin Trudeau, who sponsored the bill, said, according to a statement from Ferguson's office.

"Knowing that there’s not a predatory rent increase waiting around the corner lets people plan for their future, invest in their education, start a family or a business, or whatever their dream might be."

Washington joins both California and Oregon as states that have rent cap hikes in place. In Oregon, landlords are prohibited from raising prices by more than 10 percent in 2025 and only one hike is allowed during a 12-month period. Normally, in the state, increases are capped between nine and 10 percent, which is calculated by a statutory formula that it uses. In California, most landlords on residential properties cannot raise rents by five percent plus the change in the cost of living each year, or more than 10 percent overall, whichever figure is lower.

Also, some major cities have imposed their own restrictions. Currently, San Francisco landlords are only allowed to hike rents by 1.4 percent between March 1, 2025, and February 28, 2026, according to this year's calculation from the city's Rent Board.

In 2025, RealPage expects that apartment rents will grow by roughly 2.3 percent on average nationally. The largest share of the top 50 markets could see increases between two and 2.9 percent.