Real Estate Investing in Tacoma, Washington (98465)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98465 (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 (98465)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98465 Tacoma
This part of Pierce County is not an easy win. The 98465 ZIP posts softness in key indicators, and the playbook that works in cleaner markets often stalls here.
The 98465 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Within WA, ZIP 98465 trails on several market indicators that neighboring Pierce County submarkets outperform. The gap is real and robust enough to shape underwriting.
Employment concentration in 98465 leans toward sectors with higher volatility. The demographic consequence is income fluctuation that investors need to factor into their pro forma.
Strategy in 98465 is an operator game, not a passive one. On balance, entry prices of $585K 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 98465
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $409,282 | $1,860 | 3.3% | +5.3% | $204,641 |
| 3BR | $563,894 | $2,600 | 3.3% | +5.5% | $187,965 |
| 4BR | $707,843 | $2,970 | 3.0% | +5.9% | $176,961 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98465 Compare?
| Metric | 98465 | Tacoma | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $585,306 | $233,270 | N/A | $591,536 |
| 5-Year CAGR | 2.8% | 2.0% | N/A | 5.9% |
| Avg Rent | $1,985 | $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 98465 (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 | $585,306 |
| Monthly Rent | $1,985 |
| Price-to-Rent | 24.6:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.1% |
| Cap Rate | 2.6% |
| 5-Year IRR | 5.4% |
📈 Home Appreciation
| 1-Year | +3.6% ▲ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +2.8% ▲ |
| 10-Year CAGR | +7.8% ▲ |
🏠 Rent Trends
| 1-Year | +15.3% ▲ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
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 98465
Population: 7,489
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 98465
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
Where do home prices stand in Tacoma, WA?
Median home price in Tacoma, WA is near $585K, with a 5-year CAGR of 0.0%. Prices have been steady and supportive of buy-and-hold strategies.
What is the best play in Tacoma, WA?
In Tacoma, WA the impressive play is typically careful cash-flow rentals with hands-on management. The combination of $585K prices and $1,985/mo rents suits that approach.
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 $1,985/mo are well-absorbed by the market.
Is Tacoma, WA a friendly market for rental owners?
WA law tenant-protective for landlords, and Tacoma inherits those rules. Investors should still review local ordinances for rental licensing.
What are vacancy rates like in Tacoma, WA?
Tacoma, WA vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
You know 98465 now. You don’t know where it ranks.
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How 98465 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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