Real Estate Investing in Kent, Washington (98032)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98032 (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.
What’s happening in Kent, WA (98032)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98032 Kent
Not every below-median market is a bargain. Kent's 98032 ZIP reflects signals that favor experienced operators who can absorb the risk $542K pricing implies.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 98032 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
The gap between 98032 and stronger Kent ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
Who lives in 98032 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
Strategically, 98032 can be a high-return sleeve of a diversified portfolio — but it should not be the whole portfolio, and it should not be someone's first deal.
Here's what matters if you're considering buying a home in Kent:
Property Strategy for 98032
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $294,739 | $2,020 | 4.9% | +5.5% | $294,739 |
| 2BR | $383,542 | $2,350 | 4.4% | +6.1% | $191,771 |
| 3BR | $540,903 | $3,070 | 4.1% | +6.5% | $180,301 |
| 4BR | $646,848 | $3,610 | 4.0% | +6.0% | $161,712 |
| 5BR | $709,008 | — | — | +6.7% | $141,802 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98032 Compare?
| Metric | 98032 | Kent | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $541,752 | $613,706 | N/A | $591,536 |
| 5-Year CAGR | 3.3% | 3.0% | N/A | 5.9% |
| Avg Rent | $1,946 | $1,963 | N/A | - |
| Cap Rate | 2.8% | 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 98032 (Kent, 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 | $541,752 |
| Monthly Rent | $1,946 |
| Price-to-Rent | 23.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.3% |
| Cap Rate | 2.8% |
| 5-Year IRR | 6.1% |
📈 Home Appreciation
| 1-Year | +2.9% ▲ |
| 3-Year CAGR | +1.9% ▲ |
| 5-Year CAGR | +3.3% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 Rent Trends
| 1-Year | +0.7% ▲ |
| 3-Year CAGR | +1.2% ▲ |
| 5-Year CAGR | +2.5% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.8%). 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 98032
Population: 40,150
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 98032
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Madrona Elementary
Midway Elementary
Parkside Elementary
Woodmont K-8 School
Maritime High School
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 12,566 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
How do landlord-tenant laws work in Kent, WA?
For rental operators, Kent, WA rates as tenant-protective. The regulatory environment standard buy-and-hold operations.
How deep is the rental pool in Kent, WA?
The renter base in Kent, WA is reasonable for the $1,946/mo price point. Screening well and pricing to market typically yields predictable tenants.
What kind of vacancy should I budget for in Kent, WA?
Kent, WA sees elevated vacancy, which is reasonable relative to the broader WA rental market.
What does house hacking look like in Kent, WA?
House hacking in Kent, WA is a challenging. With home values around $542K and rents at $1,946/mo, owner-occupants can offset a meaningful share of PITI.
What are home prices like in Kent, WA?
Kent, WA home values average about $542K. That price point suits investors targeting rentals with $1,946/mo in monthly income.
You know 98032 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98032 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 98032 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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