Real Estate Investing in Kent, Washington (98031)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98031 (Kent, 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.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 28.2 — hard to cash-flow at these prices.
What’s happening in Kent, WA (98031)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98031 Kent
Not every below-median market is a bargain. Kent's 98031 ZIP reports signals that favor experienced operators who can absorb the risk $667K pricing implies.
For an experienced owner, 98031 can be a a strong candidate for hunting ground — but the discount at $667K reflects genuine risk that outside investors often underestimate.
In the broader WA picture, 98031 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Turning to rents, 40,898 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 98031 is an operator game, not a passive one. On the rental side, entry prices of $667K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Kent:
Property Strategy for 98031
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $298,465 | $1,980 | 4.8% | +4.8% | $298,465 |
| 2BR | $356,050 | $2,310 | 4.7% | +5.6% | $178,025 |
| 3BR | $605,247 | $3,020 | 3.6% | +6.3% | $201,749 |
| 4BR | $719,852 | $3,550 | 3.6% | +6.4% | $179,963 |
| 5BR | $823,580 | — | — | +6.8% | $164,716 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98031 Compare?
| Metric | 98031 | Kent | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $667,151 | $613,706 | N/A | $591,536 |
| 5-Year CAGR | 2.8% | 3.0% | N/A | 5.9% |
| Avg Rent | $1,975 | $1,963 | N/A | - |
| Cap Rate | 2.3% | 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 98031 (Kent, WA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 98031 (Kent, 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 | $667,151 |
| Monthly Rent | $1,975 |
| Price-to-Rent | 28.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.6% |
| Cap Rate | 2.3% |
| 5-Year IRR | 5.1% |
📈 Home Appreciation
| 1-Year | +0.7% ▲ |
| 3-Year CAGR | +1.7% ▲ |
| 5-Year CAGR | +2.8% ▲ |
| 10-Year CAGR | +7.0% ▲ |
🏠 Rent Trends
| 1-Year | -0.4% ▼ |
| 3-Year CAGR | +1.0% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.3%). 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 98031
Population: 40,898
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 98031
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 17,476 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Does Kent, WA favor landlords or tenants?
Kent, WA operates under WA law, which is tenant-protective overall for landlords. Expect reliable treatment in typical lease and eviction cases.
How strong is tenant demand in Kent, WA?
Working renters make up the core of the Kent, WA tenant base. The pool is reasonable for investors targeting long-term holds.
What price range are homes in Kent, WA?
The median home value in Kent, WA is roughly $667K. That puts it reasonable relative to the WA statewide average.
How strong is Kent, WA for real estate investors?
Kent, WA rates 3.0/5 for investability. With median values at $667K and rents near $1,975/mo, the market offers reasonable fundamentals for rental investors.
Is Kent, WA suited for a house hack?
For house hackers, Kent, WA is a challenging. The $1,975/mo rent on a unit helps defray the mortgage on a $667K property.
You know 98031 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98031 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 98031 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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