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ZIP Code · WA

ZIP 98387

Part of Spanaway, WA
Pop. 50,774·Pierce County·19th most expensive ZIP in Washington
Median rent (all units)
$2,836/mo
Year-over-Year
+5.5%
Month-over-Month
+0.7%
vs US Median
+$871
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 98387 · $2,836
More expensive than 87% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,530
1 BR
$1,720
2 BR
$2,110
3 BR
$2,930
4 BR+
$3,320
Research median
$2,110/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: July 20, 2026

Annual cost
$34,032/yr
At $2,836/mo median
Location
StateWA
CountyPierce County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 5.5% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+5.5% YoY, +0.7% MoM), not inventory.
Demographics

Who lives here

ZIP 98387 (Spanaway, WA) is majority owner-occupied, has a large share of families with children, has a median income above the national average, 18.4% of residents hold a bachelor's degree or higher.

Population
50,774
Median income
$106,872
Median age
34.3
Renters
22.6%
Age distribution
26.3%
25.2%
26.2%
Under 1826.3%
18–3425.2%
35–5426.2%
55–6411.7%
65+10.6%
Gender
50.7%
49.3%
Male50.7%
Female49.3%
Race & ethnicity
53.7%
17.2%
12%
White53.7%
Black10.5%
Hispanic17.2%
Asian6.5%
Other12%
Education (25+)
33%
38.8%
18.4%
No HS diploma9.8%
HS diploma33%
Some college38.8%
Bachelor's+18.4%
Housing tenure
77.4%
22.6%
Owner77.4%
Renter22.6%

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

2021 vs 2026

How ZIP 98387 in Spanaway, WA has changed in 5 years

Rent
$2,188 → $2,836
up 29.6%
Income
$84,690 → $106,872
up 26.2%
Population
52,017 → 50,774
down 2.4%
Renter share
25.1% → 22.6%
-2.5 pts
Bachelor's+
14% → 18.4%
+4.4 pts
Median age
32.2 → 34.3
+2.1 yrs

The median rent in ZIP 98387 in Spanaway, WA stood at $2,188 in 2021 and currently runs about $2,836, reflecting a 29.6% increase over the period. Local incomes tracked alongside that move, going from a median of $84,690 in 2021 to $106,872 more recently. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has contracted by 2.4% since 2021, moving from about 52,017 residents to roughly 50,774. Renters now make up 22.6% of households, compared with 25.1% five years ago. College-educated residents now make up 18.4% of adults here, versus 14% in 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 98387 in Spanaway, WA market of 2021.

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Local insights

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About renting in ZIP 98387

Last updated: July 20, 2026

ZIP code 98387 covers Spanaway, WA. The median rent here is $2,836/mo as of July 2026. A 1-bedroom rents for a median of $1,720/mo. A 2-bedroom rents for a median of $2,110/mo.

At 32% of local median household income ($106,872/yr), ZIP 98387 ranks as moderate compared to the national benchmark of 30%. Rents have increased 5.5% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 98387?

As of July 20, 2026, the median monthly rent in ZIP 98387 (Spanaway, WA) is $2,836. This is based on aggregated data from public sources and community submissions.

How does ZIP 98387 rent compare to the US average?

ZIP 98387's median rent of $2,836/mo is $871 (44%) above the US national median of $1,965/mo.

How does ZIP 98387 compare to other ZIPs in Washington?

ZIP 98387 is one of the pricier ZIP codes in Washington, ranking #19 out of 209 ZIPs tracked at $2,836/mo.

How much income do you need to rent in ZIP 98387?

To keep rent at or below 30% of gross income, you would need to earn at least $113,000/year (~$54/hour full-time) to afford the median rent of $2,836/mo in ZIP 98387. The local median household income is $106,872/yr, meaning the typical household falls short of that threshold.

Is rent going up or down in ZIP 98387?

Rent in ZIP 98387 has increased 5.5% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 98387 an affordable place to rent?

ZIP 98387 is considered moderate for renters. At $2,836/mo, rent takes approximately 32% of the local median household income ($106,872/yr). The standard benchmark is 30%. ZIP 98387 slightly exceeds that threshold, so budgeting carefully matters here.

What percentage of ZIP 98387 residents rent vs. own?

According to Census data, approximately 22.6% of ZIP 98387 households are renters, while 77.4% are owner-occupied. ZIP 98387 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 98387 compare to the rest of Spanaway?

ZIP 98387 is more affordable than Spanaway overall. At $2,836/mo, it's $5 below the Spanaway citywide median of $2,841/mo.

When was rent data for ZIP 98387 last updated?

Rent data for ZIP 98387 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
32%
MODERATE

At $2,836/mo, rent takes ~32% of ZIP 98387's median household income ($106,872/yr). The standard benchmark is 30%.

ZIP 98387 32%Benchmark 30%
State income taxNone
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Schools nearby

Public schools near ZIP 98387 (Spanaway, WA)

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