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City Report · WA

University Place

Pop. 34,911·72nd most expensive in Washington·Rental market data updated monthly for University Place, WA
Median rent (all units)
$1,961/mo
Year-over-Year
+1.6%
Month-over-Month
+3.0%
vs US Median
-$1
Rising (Monthly)
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Most AffordableMost Expensive
University Place · $1,961
More expensive than 56% of US cities · National median $1,962/mo
Rent Reality Score
59/100
Fairly priced
OverheatedFairGreat value

Rents are 4% below what University Place's 10-year trend predicts — a better deal than its own history suggests.

Actual rent
$1,961/mo
Expected by trend
$2,051/mo
The Rent Reality Score compares today's median rent to where University Place's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$1,365
1 BR
$1,550
2 BR
$1,905
3 BR
$2,670
4 BR+
$3,045
Fair Market Rent (HUD)
$1,905/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,961 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$23,532/yr
At $1,961/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 1.6% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+1.6% YoY, +3.0% MoM), not inventory.
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Demographics

Who lives here

University Place, WA is majority owner-occupied, has a median income above the national average, 42.1% of residents hold a bachelor's degree or higher.

Population
34,911
Median income
$99,031
Median age
40.1
Renters
42.8%
Age distribution
22.8%
20.3%
26.3%
19.5%
Under 1822.8%
18–3420.3%
35–5426.3%
55–6411.1%
65+19.5%
Gender
47%
53%
Male47%
Female53%
Race & ethnicity
61.6%
12.4%
White61.6%
Black7.1%
Hispanic12.4%
Asian10.9%
Other7.9%
Education (25+)
20.6%
33.1%
42.1%
No HS diploma4.2%
HS diploma20.6%
Some college33.1%
Bachelor's+42.1%
Housing tenure
57.2%
42.8%
Owner57.2%
Renter42.8%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How University Place, WA has changed in 5 years

Rent
$1,557 → $1,961
up 25.9%
Income
$84,673 → $99,031
up 17.0%
Population
34,565 → 34,911
up 1.0%
Renter share
41% → 42.8%
+1.8 pts
Bachelor's+
43.4% → 42.1%
-1.3 pts
Median age
37.5 → 40.1
+2.6 yrs

The median rent in University Place, WA stood at $1,557 in 2021 and currently runs about $1,961, reflecting a 25.9% increase over the period. On the earnings side, the typical household in University Place, WA now reports about $99,031, up from $84,673 in 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 1.0% since 2021, moving from about 34,565 residents to roughly 34,911. Renters now make up 42.8% of households, compared with 41% five years ago. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and University Place, WA reflects that arc in its own way.

Community

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View University Place rent history (2015–2026) →
Salary vs rent

Can you afford rent in University Place on your salary?

At $1,961/mo, how University Place rent compares to typical pay (30% rule).

By apartment size

University Place rent by bedroom count

Median rent for each apartment size in University Place. Click any size for full breakdown.

Local insights

Tips for renters in University Place

About renting in University Place, WA

Last updated: August 17, 2026

The median rent in University Place is $1,961/mo as of August 2026. A studio apartment averages $1,365/mo while a 2-bedroom runs $1,905/mo. One-bedroom apartments average $1,550/mo and 3-bedroom units go for $2,670/mo.

At 24% of local median household income ($99,031/yr), University Place ranks as affordable compared to the national benchmark of 30%. Rents have increased 1.6% over the past year.

FAQ

Frequently asked questions

Is University Place an affordable city for renters?

University Place is considered very affordable for renters. At $1,961/mo, rent takes approximately 24% of the local median household income ($99,031/yr). The standard benchmark is 30%. University Place falls comfortably within that range.

How much income do you need to rent in University Place?

To keep rent at or below 30% of gross income, you would need to earn at least $78,000/year (~$38/hour full-time) to afford the median rent of $1,961/mo in University Place. The local median household income is $99,031/yr, meaning the typical University Place household meets that threshold.

Is rent going up or down in University Place?

Rent in University Place has increased 1.6% over the past year as of August 2026, putting upward pressure on renter budgets.

Which University Place neighborhoods have the lowest rent?

The most affordable ZIP codes in University Place are 98467 ($1,669/mo), and 98466 ($2,009/mo). Citywide, the median rent in University Place is $1,961/mo.

How does University Place rent compare to other cities in Washington?

University Place is middle-of-the-pack for Washington for rent, ranking #72 out of 110 tracked cities at $1,961/mo.

Which nearby cities are cheaper to rent in than University Place?

Several nearby cities have lower median rents than University Place ($1,961/mo): Parkland ($1,703/mo), Lakewood ($1,737/mo), Tacoma ($1,760/mo).

What percentage of University Place residents rent vs. own?

According to Census data, approximately 42.8% of University Place households are renters, while 57.2% are owner-occupied. University Place leans toward homeownership, which can mean a smaller rental inventory.

How does University Place rent compare to the national average?

University Place's median rent of $1,961/mo is $1 (0%) below the US national median of $1,962/mo. Within Washington, it ranks #72 out of 110 tracked cities.
Income Affordability
24%
VERY AFFORDABLE

At $1,961/mo, rent takes ~24% of University Place's median household income ($99,031/yr). The standard benchmark is 30%.

University Place 24%Benchmark 30%
State income taxNone
Run the University Place affordability calculator →
Lowest-rent ZIP codes in University Place
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near University Place, WA

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