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Tacoma city, WA

ZIP 98406 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Upper Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 98406

Median Home Value
$594,100
Median Rent
$1,567
Affordability Snapshot
$164,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$3,816/mo PITI).

18%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

5.7x
Home Price-to-Income Ratio

Well above the 3-5x guideline — challenging for first-time buyers.

31.6 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 98406 in Tacoma city, WA, a household would need roughly $164,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $3,816. That is about 57% above the local median household income ($104,761), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
63.7%-3% vs US avg
x
Vacancy Rate
5.6%-46% vs US avg
x
Broadband Access
89.4%+3% vs US avg
x
4+ Bedrooms
5.0%-66% vs US avg
x
Built Pre-1939
10.8%-16% vs US avg
x
Built Post-2014
1.3%-82% vs US avg
x
Rent Burden >30%
28.8%-42% vs US avg
x
Mortgage-Free
30.0%-21% vs US avg
x
$594,100
Home Value
$1,567
Rent
1962
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached66.1%
  • 1-unit attached2.3%
  • 2-9 units10.4%
  • 10+ units21.2%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$594,100
Median rent$1,567
Owner-occupied63.7%
Vacant5.6%
Price-to-income5.7x
Est. income to buy$164,000