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Lacey city, WA

ZIP 98516 — Housing & Real Estate

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

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 98516

Median Home Value
$528,000
Median Rent
$1,811
Affordability Snapshot
$145,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$3,392/mo PITI).

24%
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.

24.3 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 98516 in Lacey city, WA, a household would need roughly $145,000 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 $3,392. That is about 57% above the local median household income ($92,191), 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
67.7%+4% vs US avg
x
Vacancy Rate
4.3%-58% vs US avg
x
Broadband Access
93.0%+7% vs US avg
x
4+ Bedrooms
4.1%-73% vs US avg
x
Built Pre-1939
0.2%-98% vs US avg
x
Built Post-2014
3.8%-45% vs US avg
x
Rent Burden >30%
31.2%-37% vs US avg
x
Mortgage-Free
37.3%-2% vs US avg
x
$528,000
Home Value
$1,811
Rent
2002
Year Built
2017
Moved In

Residents have lived here since ~2017 on average

Housing Structure

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

  • 1-unit detached67.2%
  • 1-unit attached5.4%
  • 2-9 units9.0%
  • 10+ units12.4%
  • Mobile home & other6.1%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$528,000
Median rent$1,811
Owner-occupied67.7%
Vacant4.3%
Price-to-income5.7x
Est. income to buy$145,000