ZIP Code · WA

ZIP 98338

Part of Graham, WA

Pop. 32,687·Pierce County·34th most expensive ZIP in Washington

Median rent (all units)

$2,562/mo

Year-over-Year

+2.6%

Month-over-Month

+0.6%

vs US Median

+$630

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 98338 · $2,562

More expensive than 81% of US ZIP codes · National median $1,932/mo

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Compare your rent to the local median.

Medians by bedroom

Rent by unit size

Studio

$1,550

1 BR

$1,740

2 BR

$2,140

3 BR

$2,970

4 BR+

$3,370

Research median

$2,140/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Past year vs. the rest of Washington

Rent in ZIP 98338 changed +2.6% over the year to September 2026. Across the 193 Washington ZIP codes Zillow tracks, the typical change was +2.5%.

Recent direction

Rent rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($114,819) is $2,870 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,140); a 3-bedroom is $2,970.

Cheaper nearby

ZIP 98446, 8 miles away, rents for 19% less ($2,074/mo), about $5,900 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 98338. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$30,744/yr

At $2,562/mo median

Location

CityGraham

StateWA

CountyPierce County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.6% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.6% YoY, +0.6% MoM), not inventory.

Demographics

Who lives here

ZIP 98338 (Graham, WA) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 19.9% of residents hold a bachelor's degree or higher.

Population

32,687

Median income

$114,819

Median age

37.8

Renters

15.5%

Age distribution

27.8%

18%

27.9%

13%

13.3%

Under 1827.8%

18–3418%

35–5427.9%

55–6413%

65+13.3%

Gender

52.7%

47.3%

Male52.7%

Female47.3%

Race & ethnicity

74.6%

12.1%

White74.6%

Black2.6%

Hispanic12.1%

Asian2.7%

Other8%

Education (25+)

34.6%

38.8%

19.9%

No HS diploma6.7%

HS diploma34.6%

Some college38.8%

Bachelor's+19.9%

Housing tenure

84.5%

15.5%

Owner84.5%

Renter15.5%

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

2021 vs 2026

How ZIP 98338 in Graham, WA has changed in 5 years

Income

$91,202 → $114,819

up 25.9%

Population

31,996 → 32,687

up 2.2%

Renter share

15.1% → 15.5%

+0.4 pts

Bachelor's+

16.6% → 19.9%

+3.3 pts

Median age

38.5 → 37.8

-0.7 yrs

On the earnings side, the typical household in ZIP 98338 in Graham, WA now reports about $114,819, up from $91,202 in 2021. The population has grown by 2.2% since 2021, moving from about 31,996 residents to roughly 32,687. College-educated residents now make up 19.9% of adults here, versus 16.6% in 2021.

Community

Discussions about ZIP 98338

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Local insights

Tips for renters in ZIP 98338

About renting in ZIP 98338

Last updated: October 17, 2026

ZIP code 98338 covers Graham, WA. The median rent here is $2,562/mo as of October 2026. A 1-bedroom rents for a median of $1,740/mo. A 2-bedroom rents for a median of $2,140/mo.

At 27% of local median household income ($114,819/yr), ZIP 98338 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.6% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 98338?

To keep rent at or below 30% of gross income, you would need to earn at least $102,000/year (about $49/hour full-time) to afford the median rent of $2,562/mo in ZIP 98338. The local median household income is $114,819/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 98338?

Rent in ZIP 98338 has risen 2.6% over the past year.

How does ZIP 98338 compare to other ZIPs in Washington?

ZIP 98338 is one of the pricier among Washington ZIP codes for rent, ranking #34 of 207 at $2,562/mo. Over the year to September 2026, rent in ZIP 98338 changed +2.6%, against a typical +2.5% across the 193 Washington ZIP codes Zillow tracks.