Real Estate Investing in University Place, Washington (98466)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98466 (University Place, 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.
- High price-to-rent: Price-to-rent ratio 26.2 — hard to cash-flow at these prices.
What’s happening in University Place, WA (98466)?
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Market Analysis: 98466 University Place
The 98466 ZIP covers a section of University Place that demands careful diligence. Prices near $631K look accessible, but the work to make a deal cash flow is real.
The investment case in 98466 is significant only for operators who understand what they are buying. A $631K median suggests accessibility, but management intensity, vacancy drift, and capex surprises are real.
Statewide comparisons place 98466 among WA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
Resident income in 98466 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
leans 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 University Place:
Property Strategy for 98466
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $462,856 | $1,950 | 3.0% | +4.9% | $231,428 |
| 3BR | $594,902 | $2,700 | 3.3% | +5.8% | $198,301 |
| 4BR | $688,375 | $3,070 | 3.2% | +5.9% | $172,094 |
| 5BR | $790,009 | — | — | +6.3% | $158,002 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98466 Compare?
| Metric | 98466 | University Place | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $631,457 | $660,291 | N/A | $591,536 |
| 5-Year CAGR | 2.7% | 2.8% | N/A | 5.9% |
| Avg Rent | $2,009 | $1,839 | N/A | - |
| Cap Rate | 2.5% | 2.2% | - | - |
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 98466 (University Place, 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 | $631,457 |
| Monthly Rent | $2,009 |
| Price-to-Rent | 26.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.8% |
| Cap Rate | 2.5% |
| 5-Year IRR | 5.2% |
📈 Home Appreciation
| 1-Year | +3.0% ▲ |
| 3-Year CAGR | +2.2% ▲ |
| 5-Year CAGR | +2.7% ▲ |
| 10-Year CAGR | +7.5% ▲ |
🏠 Rent Trends
| 1-Year | -1.3% ▼ |
| 3-Year CAGR | +3.1% ▲ |
| 5-Year CAGR | +3.6% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.5%). 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 98466
Population: 30,622
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 98466
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Tacoma Online Elementary School
Arlington Elementary School
Edison Elementary School
Grant Elementary School
Gray 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 8,573 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is University Place, WA a good place for real estate investing?
University Place, WA stands at an investability rating of 3.0/5, with median home values near $631K and average rents around $2,009/mo. That combination puts it in the solid tier for investor interest.
What do landlords charge for rent in University Place, WA?
Expect rents around $2,009/mo per month in University Place, WA. With home values at $631K, the yield math works out to reasonable levels for rental investors.
What is the typical vacancy rate in University Place, WA?
University Place, WA vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
What are home prices like in University Place, WA?
Median home price in University Place, WA is near $631K, with a 5-year CAGR of 0.0%. Prices have been measured and supportive of buy-and-hold strategies.
What is the smart move for investors in University Place, WA?
Most investors in University Place, WA run a careful cash-flow rentals with hands-on management strategy. It aligns with the 3.0/5 investability profile and the market fundamentals.
You know 98466 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98466 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 98466 ranks in Seattle-Tacoma-Bellevue, WA
Every ZIP in this metro, ranked. Free.
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