Real Estate Investing in Maple Valley, Washington (98038)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98038 (Maple Valley, WA)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Maple Valley, WA (98038)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98038 Maple Valley
Investors eyeing 98038 need to respect the fundamentals at play. Home values of $784K come alongside slower price movement and elevated management overhead.
The 98038 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
On balance, 98038 offers a low basis, the region around Maple Valley has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Resident income in 98038 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
New investors are better served looking at Maple Valley's stable or hybrid ZIPs before stepping into 98038. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Maple Valley:
Property Strategy for 98038
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $572,563 | $2,450 | 3.1% | +4.6% | $572,563 |
| 2BR | $545,329 | $2,850 | 3.8% | +6.5% | $272,664 |
| 3BR | $698,674 | $3,730 | 3.8% | +7.3% | $232,891 |
| 4BR | $862,722 | $4,380 | 3.7% | +7.9% | $215,681 |
| 5BR | $978,437 | — | — | +7.7% | $195,687 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98038 Compare?
| Metric | 98038 | Maple Valley | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $784,277 | $784,277 | N/A | $591,536 |
| 5-Year CAGR | 3.3% | 3.3% | N/A | 5.9% |
| Avg Rent | $3,056 | $3,056 | N/A | - |
| Cap Rate | 3.0% | 3.0% | - | - |
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 98038 (Maple Valley, WA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 98038 (Maple Valley, WA)?
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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 | $784,277 |
| Monthly Rent | $3,056 |
| Price-to-Rent | 21.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.0% |
| 5-Year IRR | 6.4% |
📈 Home Appreciation
| 1-Year | 0.0% ▼ |
| 3-Year CAGR | +1.8% ▲ |
| 5-Year CAGR | +3.3% ▲ |
| 10-Year CAGR | +6.9% ▲ |
🏠 Rent Trends
| 1-Year | -5.7% ▼ |
| 3-Year CAGR | +0.0% ▲ |
| 5-Year CAGR | +2.1% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.0%). 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 98038
Population: 37,868
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 98038
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.
🎓 Nearby Colleges & Universities
Investor Insight: With 11,526 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Do landlords face vacancy issues in Maple Valley, WA?
Vacancy in Maple Valley, WA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $3,056/mo.
What is the renter demographic in Maple Valley, WA?
Expect a solid tenant pool in Maple Valley, WA. The rental market absorbs $3,056/mo rents without meaningful friction.
What kind of market is Maple Valley, WA for investors?
The 3.0/5 investability rating in Maple Valley, WA reflects its $784K prices and $3,056/mo rents. Investors generally consider it a solid option within WA.
Where do home prices stand in Maple Valley, WA?
In Maple Valley, WA the median home value sits at $784K. Against the broader WA market, that reads as reasonable for most investors.
What approach is best for Maple Valley, WA real estate?
In Maple Valley, WA the resilient play is typically careful cash-flow rentals with hands-on management. The combination of $784K prices and $3,056/mo rents suits that approach.
You know 98038 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98038 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 98038 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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