ZIP Code · WA

ZIP 98403

Part of Tacoma, WA

Pop. 9,097·Pierce County·175th most expensive ZIP in Washington

Median rent (all units)

$1,658/mo

Year-over-Year

+2.8%

Month-over-Month

+0.7%

vs US Median

-$274

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 98403 · $1,658

More affordable than 61% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,340

1 BR

$1,510

2 BR

$1,860

3 BR

$2,600

4 BR+

$2,970

Research median

$1,860/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

Cheapest month to sign

December. Asking rents in ZIP 98403 usually run 0.7% below trend in December and 0.8% above it in July, about $25 a month apart at today's median. Based on 10 years of data.

Compared with the peak

Rent in ZIP 98403 is 0.1% below its high of $1,659 in July 2026, at $1,658 as of September 2026.

Past year vs. the rest of Washington

Rent in ZIP 98403 changed +2.8% over the year to September 2026. Across the 193 Washington ZIP codes Zillow tracks, the typical change was +2.5%.

Rent vs. income since 2019

From 2019 to 2024, rent in ZIP 98403 rose 28.5% while median household income rose 38.7% ($63,507 to $88,056). Income kept ahead of rent.

Since before the pandemic

Rent in ZIP 98403 is 30.8% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent rose in 7 of the last 12 months.

What a typical income covers

30% of the median household income ($88,056) is $2,201 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,860); a 3-bedroom is $2,600.

Rank in Tacoma

4th cheapest of 11 ZIP codes in Tacoma.

From Zillow's monthly rent index (ZORI) for ZIP 98403. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$19,896/yr

At $1,658/mo median

Location

CityTacoma

StateWA

CountyPierce County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.8% YoY, +0.7% MoM), not inventory.

Demographics

Who lives here

ZIP 98403 (Tacoma, WA) is majority renter-occupied, 64.2% of residents hold a bachelor's degree or higher.

Population

9,097

Median income

$88,056

Median age

39.4

Renters

60.3%

Age distribution

14.4%

27.5%

30.3%

17.4%

Under 1814.4%

18–3427.5%

35–5430.3%

55–6410.4%

65+17.4%

Gender

46.9%

53.1%

Male46.9%

Female53.1%

Race & ethnicity

72.7%

White72.7%

Black5.5%

Hispanic9%

Asian4.2%

Other8.6%

Education (25+)

14.4%

18.6%

64.2%

No HS diploma2.8%

HS diploma14.4%

Some college18.6%

Bachelor's+64.2%

Housing tenure

39.7%

60.3%

Owner39.7%

Renter60.3%

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

2021 vs 2026

How ZIP 98403 in Tacoma, WA has changed in 5 years

Rent

$1,342 → $1,658

up 23.5%

Income

$73,025 → $88,056

up 20.6%

Population

8,441 → 9,097

up 7.8%

Renter share

59.7% → 60.3%

+0.6 pts

Bachelor's+

58.7% → 64.2%

+5.5 pts

Median age

35.8 → 39.4

+3.6 yrs

Rent in ZIP 98403 in Tacoma, WA has increased 23.5% since 2021, going from about $1,342 per month to roughly $1,658 today. Household income in the area moved from $73,025 to $88,056 across the same window, up 20.6% versus 2021. Headcount in the area went from 8,441 to 9,097 between 2021 and 2024, a 7.8% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 58.7% to 64.2%. Reading these numbers side by side helps frame whether current listings in ZIP 98403 in Tacoma, WA look reasonable against where the market sat half a decade ago.

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Local insights

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About renting in ZIP 98403

Last updated: October 17, 2026

ZIP code 98403 covers Tacoma, WA. The median rent here is $1,658/mo as of October 2026. A 1-bedroom rents for a median of $1,510/mo. A 2-bedroom rents for a median of $1,860/mo.

At 23% of local median household income ($88,056/yr), ZIP 98403 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 98403?

To keep rent at or below 30% of gross income, you would need to earn at least $66,000/year (about $32/hour full-time) to afford the median rent of $1,658/mo in ZIP 98403. The local median household income is $88,056/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 98403?

Rent in ZIP 98403 has risen 2.8% over the past year as of September 2026. It sits 0.1% below its high of $1,659 in July 2026.

When is the cheapest time to rent in ZIP 98403?

Asking rents in ZIP 98403 are usually lowest in December, about 0.7% below their yearly trend, and highest in July, about 0.8% above it. At today's median that is a gap of roughly $25 a month. This pattern comes from 10 years of Zillow rent data.

Has rent outpaced income in ZIP 98403?

No. From 2019 to 2024, rent in ZIP 98403 rose 28.5% while median household income rose 38.7%, from $63,507 to $88,056. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 98403 compare to other ZIPs in Washington?

ZIP 98403 is one of the more affordable among Washington ZIP codes for rent, ranking #175 of 207 at $1,658/mo. Over the year to September 2026, rent in ZIP 98403 changed +2.8%, against a typical +2.5% across the 193 Washington ZIP codes Zillow tracks.