Real Estate Investing in Tacoma, Washington (98422)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98422 (Tacoma, 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 Tacoma, WA (98422)?
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Market Analysis: 98422 Tacoma
The 98422 ZIP covers a section of Tacoma that demands careful diligence. Prices near $679K look accessible, but the work to make a deal cash flow is real.
The investment case in 98422 is solid only for operators who understand what they are buying. A $679K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 98422 among WA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
The 98422 ZIP's population of 22,126 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that clocks in at the need for careful underwriting.
Distressed ZIPs reward experience. solid returns are possible in 98422, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Tacoma:
Property Strategy for 98422
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $499,550 | $2,420 | 3.5% | +4.8% | $249,775 |
| 3BR | $594,139 | $3,360 | 4.1% | +6.0% | $198,046 |
| 4BR | $760,472 | $3,810 | 3.6% | +6.4% | $190,118 |
| 5BR | $867,322 | — | — | +6.3% | $173,464 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98422 Compare?
| Metric | 98422 | Tacoma | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $678,922 | $233,270 | N/A | $591,536 |
| 5-Year CAGR | 2.9% | 2.0% | N/A | 5.9% |
| Avg Rent | $2,277 | $1,844 | N/A | - |
| Cap Rate | 2.6% | 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 98422 (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 | $678,922 |
| Monthly Rent | $2,277 |
| Price-to-Rent | 24.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.0% |
| Cap Rate | 2.6% |
| 5-Year IRR | 5.5% |
📈 Home Appreciation
| 1-Year | +2.6% ▲ |
| 3-Year CAGR | +2.3% ▲ |
| 5-Year CAGR | +2.9% ▲ |
| 10-Year CAGR | +7.2% ▲ |
🏠 Rent Trends
| 1-Year | +4.9% ▲ |
| 3-Year CAGR | +3.8% ▲ |
| 5-Year CAGR | +4.1% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.6%). 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 98422
Population: 22,126
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 98422
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Adelaide Elementary School
Sherwood Forest Elementary School
Brigadoon Elementary School
Enterprise Elementary School
Green Gables 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 2,975 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Are there empty rentals in Tacoma, WA?
Vacancy in Tacoma, WA is elevated, which keeps landlord downtime on reasonable timelines. Most properties lease within the standard window at $2,277/mo.
How much do tenants pay in Tacoma, WA?
Expect rents around $2,277/mo per month in Tacoma, WA. With home values at $679K, the yield math works out to reasonable levels for rental investors.
What is the average home sale price in Tacoma, WA?
Typical homes in Tacoma, WA go for around $679K. The 5-year CAGR of 0.0% measured price movement.
How do experienced investors play Tacoma, WA?
The best-fit strategy in Tacoma, WA is careful cash-flow rentals with hands-on management. That approach the rent and price profile of the market.
How does Tacoma, WA rate as a rental market?
Tacoma, WA scores 3.0/5 for investability. Home values sit at $679K and rents near $2,277/mo, which keeps the rent-to-price ratio in reasonable territory for buy-and-hold investors.
You know 98422 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98422 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 98422 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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