Real Estate Investing in Burien, Washington (98148)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98148 (Burien, 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 Burien, WA (98148)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98148 Burien
ZIP 98148 inside King County looks affordable on the surface — median value of $608K — but the discount exists for reasons that a careful buyer should understand before committing.
The 98148 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Nearby ZIPs in Burien have seen price recovery that 98148 has not matched. King County data supports the view that the spread is structural rather than temporary.
The 98148 ZIP's population of 10,399 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that comes in at the need for careful underwriting.
Strategically, 98148 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 Burien:
Property Strategy for 98148
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $208,970 | $1,920 | 6.6% | +2.5% | $208,970 |
| 2BR | $342,343 | $2,240 | 4.7% | +3.6% | $171,171 |
| 3BR | $577,998 | $2,930 | 3.6% | +4.9% | $192,666 |
| 4BR | $698,867 | $3,450 | 3.6% | +5.4% | $174,717 |
| 5BR | $791,421 | — | — | +6.0% | $158,284 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98148 Compare?
| Metric | 98148 | Burien | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $608,345 | $707,524 | N/A | $591,536 |
| 5-Year CAGR | 2.5% | 2.5% | N/A | 5.9% |
| Avg Rent | $2,042 | $1,943 | N/A | - |
| Cap Rate | 2.6% | 2.2% | - | - |
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 98148 (Burien, 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 | $608,345 |
| Monthly Rent | $2,042 |
| Price-to-Rent | 24.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 5.1% |
📈 Home Appreciation
| 1-Year | +3.0% ▲ |
| 3-Year CAGR | +2.0% ▲ |
| 5-Year CAGR | +2.5% ▲ |
| 10-Year CAGR | +6.8% ▲ |
🏠 Rent Trends
| 1-Year | +0.7% ▲ |
| 3-Year CAGR | +1.5% ▲ |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.6%). 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 98148
Population: 10,399
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 98148
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
McMicken Heights Elementary
Bow Lake Elementary
Chinook Middle School
Gregory Heights Elementary
Marvista Elementary
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
What do landlords charge for rent in Burien, WA?
Rent in Burien, WA is around $2,042/mo. The resulting rent-to-value relationship with $608K pricing is reasonable for most investor models.
How strong is the working-renter base in Burien, WA?
Tenant demand in Burien, WA is solid. The local workforce $2,042/mo rents across most rental classes.
How expensive is real estate in Burien, WA?
Median home price in Burien, WA is near $608K, with a 5-year CAGR of 0.0%. Prices have been steady and supportive of buy-and-hold strategies.
Is Burien, WA better for rentals, flips, or BRRRR?
For Burien, WA, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
Is WA a landlord-friendly state?
Landlord-friendliness in Burien, WA is tenant-protective. Eviction timelines and lease enforcement are considered reasonable by most property managers.
You know 98148 now. You don’t know where it ranks.
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How 98148 ranks in Seattle-Tacoma-Bellevue, WA
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