Real Estate Investing in Tacoma, Washington (98409)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98409 (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.
What’s happening in Tacoma, WA (98409)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98409 Tacoma
ZIP 98409 in Tacoma, WA carries a substantial set of headwinds. Home values near $417K and rents of $1,640/mo sit inside a market where underwriting has to be tight.
The investment case in 98409 is impressive only for operators who understand what they are buying. A $417K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Nearby ZIPs in Tacoma have seen price recovery that 98409 has not matched. Pierce County data supports the view that the spread is structural rather than temporary.
The demographic picture in 98409 includes headwinds that any investor should price in. Income distribution skews lower than Tacoma averages, and tenant stability requires active management.
Strategy in 98409 is an operator game, not a passive one. From an investor standpoint, entry prices of $417K are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Tacoma:
Property Strategy for 98409
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $300,382 | $1,560 | 3.7% | +4.3% | $300,382 |
| 2BR | $362,751 | $1,910 | 3.8% | +5.2% | $181,375 |
| 3BR | $420,944 | $2,650 | 4.5% | +5.0% | $140,315 |
| 4BR | $469,631 | $3,010 | 4.6% | +5.0% | $117,408 |
| 5BR | $522,440 | — | — | +4.6% | $104,488 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98409 Compare?
| Metric | 98409 | Tacoma | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $416,989 | $233,270 | N/A | $591,536 |
| 5-Year CAGR | 1.7% | 2.0% | N/A | 5.9% |
| Avg Rent | $1,640 | $1,844 | N/A | - |
| Cap Rate | 3.1% | 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 98409 (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 | $416,989 |
| Monthly Rent | $1,640 |
| Price-to-Rent | 21.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.7% |
| Cap Rate | 3.1% |
| 5-Year IRR | 4.8% |
📈 Home Appreciation
| 1-Year | +2.5% ▲ |
| 3-Year CAGR | +1.5% ▲ |
| 5-Year CAGR | +1.7% ▲ |
| 10-Year CAGR | +9.0% ▲ |
🏠 Rent Trends
| 1-Year | -0.6% ▼ |
| 3-Year CAGR | +2.0% ▲ |
| 5-Year CAGR | +2.9% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.1%). 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 98409
Population: 27,298
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 98409
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Birney Elementary School
Reed Elementary School
Bryant Montessori Middle School
Angelo Giaudrone Middle School
Baker Middle 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 6,718 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is rental property easy to operate in Tacoma, WA?
Rental owners in Tacoma, WA deal with a tenant-protective legal framework. Most standard eviction processes run on reasonable timelines.
Is Tacoma, WA a good place for real estate investing?
Investors tracking Tacoma, WA will find a 2.0/5 rating supported by $417K median home values and $1,640/mo rents. That profile suits long-term holders targeting consistent returns.
Is it easy to find good tenants in Tacoma, WA?
The tenant pool in Tacoma, WA is solid, supported by local employment and population fundamentals. Rents of $1,640/mo are well-absorbed by the market.
Where do rents currently stand in Tacoma, WA?
Rental rates in Tacoma, WA average $1,640/mo. Tenant demand and $417K home values make the yield look reasonable by investor standards.
What does house hacking look like in Tacoma, WA?
House hacking in Tacoma, WA is a challenging. With home values around $417K and rents at $1,640/mo, owner-occupants can offset a meaningful share of PITI.
You know 98409 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98409 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 98409 ranks in Seattle-Tacoma-Bellevue, WA
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