Real Estate Investing in Puyallup, Washington (98373)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98373 (Puyallup, 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 Puyallup, WA (98373)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98373 Puyallup
The 98373 ZIP in Puyallup, WA is a local-operator market. Outside capital chasing a $572K entry has to pair deep knowledge with the discount.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 98373 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
The gap between 98373 and stronger Puyallup ZIPs is not closing quickly. Investors should weight long-horizon assumptions accordingly.
A solid renter share of 43% in 98373 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
seems to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Puyallup:
Property Strategy for 98373
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $387,042 | $2,120 | 3.9% | +4.9% | $193,521 |
| 3BR | $535,547 | $2,940 | 4.0% | +5.8% | $178,516 |
| 4BR | $631,350 | $3,340 | 3.8% | +5.9% | $157,838 |
| 5BR | $672,354 | — | — | +5.1% | $134,471 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98373 Compare?
| Metric | 98373 | Puyallup | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $571,638 | $593,658 | N/A | $591,536 |
| 5-Year CAGR | 2.4% | 2.6% | N/A | 5.9% |
| Avg Rent | $1,988 | $2,257 | N/A | - |
| Cap Rate | 2.7% | 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 98373 (Puyallup, WA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 98373 (Puyallup, WA)?
~25 seconds · no account needed · your report is anonymous
Property managers serving Pierce County
Manage rentals here? List your business →Harborside Property Management LLC offers commercial and residential property manager services in Tacoma & Gig Harbor, including single-family and multi-family homes. 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
HOA Community Solutions provides management services for homeowner associations. 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 | $571,638 |
| Monthly Rent | $1,988 |
| Price-to-Rent | 24.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 5.1% |
📈 Home Appreciation
| 1-Year | +2.7% ▲ |
| 3-Year CAGR | +2.2% ▲ |
| 5-Year CAGR | +2.4% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 Rent Trends
| 1-Year | +1.3% ▲ |
| 3-Year CAGR | +2.1% ▲ |
| 5-Year CAGR | +3.8% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). 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 98373
Population: 29,062
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 98373
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Central Avenue Elementary
Naches Trail Elementary
Clover Creek Elementary
Katherine G. Johnson Elementary School
Naches Trail Preschool
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 4,093 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the median home value in Puyallup, WA?
Puyallup, WA median home values land near $572K. That is reasonable territory for investors looking at $1,988/mo-per-month rentals.
What kind of tenants rent in Puyallup, WA?
Tenant demand in Puyallup, WA is solid. The local workforce $1,988/mo rents across most rental classes.
Is Puyallup, WA suited for a house hack?
House hacking works a challenging in Puyallup, WA. Rents of $1,988/mo against $572K acquisition make the strategy solid for owner-occupants.
Is Puyallup, WA a friendly market for rental owners?
Rental owners in Puyallup, WA deal with a tenant-protective legal framework. Most standard eviction processes run on reasonable timelines.
What is the typical rental rate in Puyallup, WA?
Rent in Puyallup, WA is around $1,988/mo. The resulting rent-to-value relationship with $572K pricing is reasonable for most investor models.
You know 98373 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98373 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 98373 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 98373 (Puyallup)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 98373 (Puyallup, WA).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.