Real Estate Investing in Puyallup, Washington (98374)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98374 (Puyallup, WA)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
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 (98374)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98374 Puyallup
From a cash-flow lens, ZIP 98374 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $587K median. It rewards specialists, not generalists.
The investment case in 98374 is sturdy only for operators who understand what they are buying. A $587K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 98374 among WA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Demographically, 98374 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Experienced landlords with local relationships tend to find 98374 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Puyallup:
Property Strategy for 98374
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $415,759 | $2,230 | 3.9% | +5.0% | $207,880 |
| 3BR | $528,818 | $3,090 | 4.2% | +6.0% | $176,273 |
| 4BR | $616,462 | $3,510 | 4.1% | +6.0% | $154,115 |
| 5BR | $681,910 | — | — | +5.6% | $136,382 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98374 Compare?
| Metric | 98374 | Puyallup | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $586,725 | $593,658 | N/A | $591,536 |
| 5-Year CAGR | 2.8% | 2.6% | N/A | 5.9% |
| Avg Rent | $2,473 | $2,257 | N/A | - |
| Cap Rate | 3.3% | 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 98374 (Puyallup, WA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 98374 (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 | $586,725 |
| Monthly Rent | $2,473 |
| Price-to-Rent | 19.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.1% |
| Cap Rate | 3.3% |
| 5-Year IRR | 6.1% |
📈 Home Appreciation
| 1-Year | +2.7% ▲ |
| 3-Year CAGR | +2.4% ▲ |
| 5-Year CAGR | +2.8% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 Rent Trends
| 1-Year | -3.3% ▼ |
| 3-Year CAGR | +1.1% ▲ |
| 5-Year CAGR | +2.7% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.3%). 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 98374
Population: 47,645
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 98374
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 4,093 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the smart move for investors in Puyallup, WA?
Most investors in Puyallup, WA run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
Is vacancy a concern in Puyallup, WA?
Rental vacancy in Puyallup, WA is elevated. Investors should budget normal turnover but not chronic empty units.
Is Puyallup, WA a good market for buy-and-hold investors?
Investors tracking Puyallup, WA will find a 3.0/5 rating supported by $587K median home values and $2,473/mo rents. That profile suits long-term holders targeting stable returns.
Are eviction rules reasonable in Puyallup, WA?
For rental operators, Puyallup, WA rates as tenant-protective. The regulatory environment standard buy-and-hold operations.
Where do home prices stand in Puyallup, WA?
Puyallup, WA home values average about $587K. That price point suits investors targeting rentals with $2,473/mo in monthly income.
You know 98374 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98374 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 98374 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
AI Market Advisor
Ask questions about investing in 98374 (Puyallup)
Community Ratings
What people who’ve spent time here actually say. Not paid reviews.
Be the first to rate 98374 (Puyallup, WA).
It takes 30 seconds. No signup. Your rating helps everyone who comes here after you.