ZIP Code · WA

ZIP 98404

Part of Tacoma, WA

Pop. 35,961·Pierce County·138th most expensive ZIP in Washington

Median rent (all units)

$1,900/mo

Year-over-Year

+2.1%

Month-over-Month

+0.7%

vs US Median

-$32

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 98404 · $1,900

More expensive than 56% 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

$1,340

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

Compared with the peak

Rent in ZIP 98404 is at its highest level since Zillow's records here began in July 2022.

Past year vs. the rest of Washington

Rent in ZIP 98404 changed +2.2% over the year to September 2026. Across the 193 Washington ZIP codes Zillow tracks, the typical change was +2.5%.

Recent direction

Rent has risen 3 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($82,191) is $2,055 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

7th cheapest of 11 ZIP codes in Tacoma.

Cheaper nearby

ZIP 98408, 2 miles away, rents for 17% less ($1,581/mo), about $3,800 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 98404. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$22,800/yr

At $1,900/mo median

Location

CityTacoma

StateWA

CountyPierce County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (2.1% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+2.1% YoY, +0.7% MoM), not inventory.

Demographics

Who lives here

ZIP 98404 (Tacoma, WA) is majority owner-occupied, has a large share of families with children, 21.7% of residents hold a bachelor's degree or higher.

Population

35,961

Median income

$82,191

Median age

35.1

Renters

31.4%

Age distribution

25.2%

24.5%

28.3%

Under 1825.2%

18–3424.5%

35–5428.3%

55–6410.1%

65+11.9%

Gender

51.2%

48.8%

Male51.2%

Female48.8%

Race & ethnicity

40.2%

22.9%

16.7%

White40.2%

Black11.4%

Hispanic22.9%

Asian16.7%

Other8.7%

Education (25+)

15.8%

30.8%

31.6%

21.7%

No HS diploma15.8%

HS diploma30.8%

Some college31.6%

Bachelor's+21.7%

Housing tenure

68.6%

31.4%

Owner68.6%

Renter31.4%

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

2023 vs 2026

How ZIP 98404 in Tacoma, WA has changed in 5 years

Rent

$1,661 → $1,900

up 14.4%

Income

$62,741 → $82,191

up 31.0%

Population

35,357 → 35,961

up 1.7%

Renter share

36.8% → 31.4%

-5.4 pts

Bachelor's+

17.5% → 21.7%

+4.2 pts

Median age

34.6 → 35.1

+0.5 yrs

Compared with 2023, rent in ZIP 98404 in Tacoma, WA has increased by $239 per month, settling near $1,900 after starting the period at $1,661. Census figures show median household income at $82,191 today, compared with $62,741 five years earlier. Income growth outran rent by about 16.6 percentage points, easing the affordability math somewhat compared with 2021. Headcount in the area went from 35,357 to 35,961 between 2021 and 2024, a 1.7% change. About 31.4% of households rent today, against 36.8% in 2021. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 17.5% to 21.7%. The combined trend lines point to a market that has changed measurably from where it stood in early 2023.

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About renting in ZIP 98404

Last updated: October 17, 2026

ZIP code 98404 covers Tacoma, WA. The median rent here is $1,900/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 28% of local median household income ($82,191/yr), ZIP 98404 ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.1% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 98404?

To keep rent at or below 30% of gross income, you would need to earn at least $76,000/year (about $37/hour full-time) to afford the median rent of $1,900/mo in ZIP 98404. The local median household income is $82,191/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 98404?

Rent in ZIP 98404 has risen 2.1% over the past year as of September 2026. That is the highest level since Zillow's records here began in July 2022.

How does ZIP 98404 compare to other ZIPs in Washington?

ZIP 98404 is one of the more affordable among Washington ZIP codes for rent, ranking #138 of 207 at $1,900/mo. Over the year to September 2026, rent in ZIP 98404 changed +2.2%, against a typical +2.5% across the 193 Washington ZIP codes Zillow tracks.