Real Estate Investing in Tacoma, Washington (98403)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98403 (Tacoma, WA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 35.7 — hard to cash-flow at these prices.
What’s happening in Tacoma, WA (98403)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98403 Tacoma
ZIP 98403 inside Pierce County looks affordable on the surface — median value of $724K — but the discount exists for reasons that a careful buyer should understand before committing.
Distressed markets are won on execution, not on spreadsheets. ZIP 98403 stands at the profile where tenant screening, deferred maintenance, and local relationships determine the outcome.
Nearby ZIPs in Tacoma have seen price recovery that 98403 has not matched. Pierce County data supports the view that the spread is structural rather than temporary.
The demographic picture in 98403 includes headwinds that any investor should price in. Income distribution skews lower than Tacoma averages, and tenant stability requires active management.
looks 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 Tacoma:
Property Strategy for 98403
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $500,806 | $1,860 | 2.7% | +3.6% | $250,403 |
| 3BR | $722,605 | $2,600 | 2.6% | +4.9% | $240,868 |
| 4BR | $931,914 | $2,970 | 2.3% | +5.9% | $232,979 |
| 5BR | $1,199,796 | — | — | +6.5% | $239,959 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98403 Compare?
| Metric | 98403 | Tacoma | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $724,417 | $233,270 | N/A | $591,536 |
| 5-Year CAGR | 2.8% | 2.0% | N/A | 5.9% |
| Avg Rent | $1,690 | $1,844 | N/A | - |
| Cap Rate | 1.8% | 2.8% | - | - |
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 98403 (Tacoma, 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 | $724,417 |
| Monthly Rent | $1,690 |
| Price-to-Rent | 35.7:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.8% |
| Cap Rate | 1.8% |
| 5-Year IRR | 4.6% |
📈 Home Appreciation
| 1-Year | +5.1% ▲ |
| 3-Year CAGR | +3.1% ▲ |
| 5-Year CAGR | +2.8% ▲ |
| 10-Year CAGR | +7.3% ▲ |
🏠 Rent Trends
| 1-Year | +8.1% ▲ |
| 3-Year CAGR | +5.1% ▲ |
| 5-Year CAGR | +5.1% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.8%). 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 98403
Population: 8,586
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 98403
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Point Defiance Elementary School
Bryant Montessori Middle School
Tacoma Online Elementary School
Delong Elementary School
Edna Travis Elementary School
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 5,600 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are homes affordable in Tacoma, WA?
In Tacoma, WA the median home value sits at $724K. Against the broader WA market, that reads as reasonable for most investors.
What is the typical renter like in Tacoma, WA?
Expect a solid tenant pool in Tacoma, WA. The rental market absorbs $1,690/mo rents without meaningful friction.
Are there empty rentals in Tacoma, WA?
Expect elevated vacancy in Tacoma, WA. Rents at $1,690/mo are absorbed by the tenant base without meaningful lag.
How strict are landlord regulations in Tacoma, WA?
WA ranks as a tenant-protective state for landlord-tenant law. Tacoma generally follows the statewide framework, so landlords face reasonable operating rules.
Is Tacoma, WA a good place for real estate investing?
Tacoma, WA rates 2.0/5 for investability. With median values at $724K and rents near $1,690/mo, the market offers reasonable fundamentals for rental investors.
You know 98403 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98403 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 98403 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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