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Tacoma city, WA

ZIP 98408 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 98408

Median Home Value
$379,400
Median Rent
$1,364
Affordability Snapshot
$104,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,437/mo PITI).

21%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

4.8x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

23.2 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 98408 in Tacoma city, WA, a household would need roughly $104,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $2,437. That is about 32% above the local median household income ($78,855), so the median earner would likely stretch or need a larger down payment. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
67.4%+3% vs US avg
x
Vacancy Rate
4.0%-61% vs US avg
x
Broadband Access
89.0%+2% vs US avg
x
4+ Bedrooms
3.8%-74% vs US avg
x
Built Pre-1939
15.0%+17% vs US avg
x
Built Post-2014
1.7%-75% vs US avg
x
Rent Burden >30%
22.6%-55% vs US avg
x
Mortgage-Free
27.9%-27% vs US avg
x
$379,400
Home Value
$1,364
Rent
1953
Year Built
2014
Moved In

Residents have lived here since ~2014 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached78.3%
  • 1-unit attached3.4%
  • 2-9 units8.1%
  • 10+ units8.9%
  • Mobile home & other1.2%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$379,400
Median rent$1,364
Owner-occupied67.4%
Vacant4.0%
Price-to-income4.8x
Est. income to buy$104,000