Real Estate Investing in Puyallup, Washington (98375)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98375 (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 cash-flow market — rent-to-price math works from day one, though value growth is modest. Great for income-focused investors.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
What’s happening in Puyallup, WA (98375)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98375 Puyallup
The 98375 ZIP in Puyallup, WA is a local-operator market. Outside capital chasing a $551K entry has to pair deep knowledge with the discount.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 98375 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
Looking more closely, 98375 offers a low basis, the region around Puyallup has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
A sturdy renter share of 27% in 98375 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Strategy in 98375 is an operator game, not a passive one. In practical terms, entry prices of $551K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Puyallup:
Property Strategy for 98375
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $373,794 | $2,460 | 4.7% | +5.8% | $186,897 |
| 3BR | $507,459 | $3,410 | 4.8% | +6.1% | $169,153 |
| 4BR | $574,389 | $3,870 | 4.9% | +6.3% | $143,597 |
| 5BR | $618,445 | — | — | +6.5% | $123,689 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98375 Compare?
| Metric | 98375 | Puyallup | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $550,676 | $593,658 | N/A | $591,536 |
| 5-Year CAGR | 2.7% | 2.6% | N/A | 5.9% |
| Avg Rent | $2,840 | $2,257 | N/A | - |
| Cap Rate | 4.0% | 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 98375 (Puyallup, WA). Anonymous, moderated, never written by AI.
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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 | $550,676 |
| Monthly Rent | $2,840 |
| Price-to-Rent | 16.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 6.2% |
| Cap Rate | 4.0% |
| 5-Year IRR | 6.7% |
📈 Home Appreciation
| 1-Year | +2.5% ▲ |
| 3-Year CAGR | +2.3% ▲ |
| 5-Year CAGR | +2.7% ▲ |
| 10-Year CAGR | +7.6% ▲ |
🏠 Rent Trends
| 1-Year | -0.7% ▼ |
| 3-Year CAGR | +3.2% ▲ |
| 5-Year CAGR | +3.9% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (4.0%). 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 98375
Population: 32,195
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 98375
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
Is real estate in Puyallup, WA a good investment right now?
Puyallup, WA rates 3.0/5 for investability. With median values at $551K and rents near $2,840/mo, the market offers reasonable fundamentals for rental investors.
Which real estate strategy fits Puyallup, WA?
The best-fit strategy in Puyallup, WA is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
Is it easy to find good tenants in Puyallup, WA?
Tenant demand in Puyallup, WA is solid. The local workforce $2,840/mo rents across most rental classes.
Is house hacking profitable in Puyallup, WA?
House hacking in Puyallup, WA is reasonable to execute. Prices around $551K and rents of $2,840/mo solid owner-occupant economics.
What are rental rates like in Puyallup, WA?
Average rent in Puyallup, WA is approximately $2,840/mo per month. Against $551K home values that yields a reasonable rent-to-price ratio.
You know 98375 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98375 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 98375 ranks in Seattle-Tacoma-Bellevue, WA
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