Real Estate Investing in Enumclaw, Washington (98022)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98022 (Enumclaw, WA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Elevated vacancy: 11.1% vacancy may signal weakening demand.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 26.0 — hard to cash-flow at these prices.
What’s happening in Enumclaw, WA (98022)?
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Market Analysis: 98022 Enumclaw
Not every below-median market is a bargain. Enumclaw's 98022 ZIP sits at signals that favor experienced operators who can absorb the risk $676K pricing implies.
The 98022 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Statewide comparisons place 98022 among WA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
On balance, 22,135 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Strategy in 98022 is an operator game, not a passive one. Stepping back, entry prices of $676K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Enumclaw:
Property Strategy for 98022
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $462,411 | $1,850 | 2.9% | +6.2% | $462,411 |
| 2BR | $507,096 | $2,160 | 3.1% | +6.1% | $253,548 |
| 3BR | $647,188 | $2,850 | 3.2% | +6.3% | $215,729 |
| 4BR | $761,508 | $3,320 | 3.1% | +6.3% | $190,377 |
| 5BR | $840,647 | — | — | +6.2% | $168,129 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98022 Compare?
| Metric | 98022 | Enumclaw | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $675,722 | $675,722 | N/A | $591,536 |
| 5-Year CAGR | 2.9% | 2.9% | N/A | 5.9% |
| Avg Rent | $2,169 | $2,169 | N/A | - |
| Cap Rate | 2.5% | 2.5% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98022 (Enumclaw, WA). Anonymous, moderated, never written by AI.
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Property managers serving King County
Manage rentals here? List your business →Alki Property Management LLC specializes in apartment rentals. summary from their website
Brink Property Management offers residential property management and vacant home management services in Bellevue, providing marketing, tenant screening, rent collection, and maintenance. summary from their website
Full Service Property Management offers compassionate property management across Metro Seattle, including multi-family management, property marketing, and maintenance services. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $675,722 |
| Monthly Rent | $2,169 |
| Price-to-Rent | 26.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.9% |
| Cap Rate | 2.5% |
| 5-Year IRR | 5.4% |
📈 Home Appreciation
| 1-Year | +1.6% ▲ |
| 3-Year CAGR | +2.8% ▲ |
| 5-Year CAGR | +2.9% ▲ |
| 10-Year CAGR | +6.5% ▲ |
🏠 Rent Trends
| 1-Year | -12.2% ▼ |
| 3-Year CAGR | -1.8% ▼ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 98022
Population: 22,135
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 98022
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
How qualified is the tenant pool in Enumclaw, WA?
The tenant pool in Enumclaw, WA is solid, supported by local employment and population fundamentals. Rents of $2,169/mo are well-absorbed by the market.
Is Enumclaw, WA good for landlords?
Enumclaw, WA falls under WA landlord-tenant law, which is tenant-protective. That backdrop makes day-to-day property management reasonable.
Is vacancy a concern in Enumclaw, WA?
Expect elevated vacancy in Enumclaw, WA. Rents at $2,169/mo are absorbed by the tenant base without meaningful lag.
Does house hacking make sense in Enumclaw, WA?
House hacking works a challenging in Enumclaw, WA. Rents of $2,169/mo against $676K acquisition make the strategy solid for owner-occupants.
What is the typical home price in Enumclaw, WA?
Homes in Enumclaw, WA typically sell near $676K. Prices have moved at a 0.0% 5-year CAGR, which even-keeled long-term demand.
You know 98022 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98022 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 98022 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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