Real Estate Investing in Arlington, Washington (98223)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98223 (Arlington, 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 Arlington, WA (98223)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98223 Arlington
Investors eyeing 98223 need to respect the fundamentals at play. Home values of $658K come alongside slower price movement and elevated management overhead.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 98223 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Meanwhile, 98223 offers a low basis, the region around Arlington has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
Who lives in 98223 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
The right play in 98223 usually involves deep tenant screening, aggressive delinquency response, and a conservative capex buffer. Anything less, and the discount can turn into a trap.
Here's what matters if you're considering buying a home in Arlington:
Property Strategy for 98223
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $408,070 | $1,940 | 3.4% | +7.2% | $408,070 |
| 2BR | $524,712 | $2,260 | 3.1% | +7.4% | $262,356 |
| 3BR | $619,455 | $2,960 | 3.4% | +7.2% | $206,485 |
| 4BR | $772,488 | $3,480 | 3.2% | +8.1% | $193,122 |
| 5BR | $778,454 | — | — | +7.7% | $155,691 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98223 Compare?
| Metric | 98223 | Arlington | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $658,332 | $658,332 | N/A | $591,536 |
| 5-Year CAGR | 4.0% | 4.0% | N/A | 5.9% |
| Avg Rent | $2,209 | $2,209 | N/A | - |
| Cap Rate | 2.6% | 2.6% | - | - |
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 98223 (Arlington, WA). Anonymous, moderated, never written by AI.
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Property managers serving Snohomish County
Manage rentals here? List your business →inTrust Property Management offers HOA Management Services in King & Snohomish Counties. summary from their website
Haven Property Management is a full-service residential management company based in Federal Way, WA, covering the Greater Puget Sound area. summary from their website
Navigate Community Management provides community management 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 | $658,332 |
| Monthly Rent | $2,209 |
| Price-to-Rent | 24.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 6.6% |
📈 Home Appreciation
| 1-Year | +3.0% ▲ |
| 3-Year CAGR | +4.0% ▲ |
| 5-Year CAGR | +4.0% ▲ |
| 10-Year CAGR | +7.7% ▲ |
🏠 Rent Trends
| 1-Year | +11.6% ▲ |
| 3-Year CAGR | +6.9% ▲ |
| 5-Year CAGR | +6.4% ▲ |
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 98223
Population: 46,225
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 98223
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
What are vacancy rates like in Arlington, WA?
Arlington, WA sees elevated vacancy, which is reasonable relative to the broader WA rental market.
What is the typical rental rate in Arlington, WA?
The typical rental in Arlington, WA commands about $2,209/mo monthly. That rent profile consistent cash flow against the $658K purchase basis.
What is the renter demographic in Arlington, WA?
Tenant quality in Arlington, WA ranks as solid. Landlords generally report reliable occupancy at market rents of $2,209/mo.
How landlord-friendly is Arlington, WA?
The landlord environment in Arlington, WA is tenant-protective. Statewide rules shape most day-to-day operations for rental owners.
How do experienced investors play Arlington, WA?
The best-fit strategy in Arlington, WA is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
You know 98223 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98223 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 98223 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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