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ZIP Code · WA

ZIP 98405

Part of Tacoma, WA
Pop. 25,939·Pierce County·187th most expensive ZIP in Washington
Median rent (all units)
$1,560/mo
Year-over-Year
-6.5%
Month-over-Month
-1.2%
vs US Median
-$405
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 98405 · $1,560
More affordable than 69% of US ZIP codes · National median $1,965/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: July 20, 2026

Annual cost
$18,720/yr
At $1,560/mo median
Location
CityTacoma
StateWA
CountyPierce County
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 6.5% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (-6.5% YoY, -1.2% MoM), not inventory.
Demographics

Who lives here

ZIP 98405 (Tacoma, WA) is roughly split between renters and owners, 32.2% of residents hold a bachelor's degree or higher.

Population
25,939
Median income
$75,946
Median age
38.5
Renters
50.8%
Age distribution
19.4%
23.6%
32%
13.6%
Under 1819.4%
18–3423.6%
35–5432%
55–6411.5%
65+13.6%
Gender
49.2%
50.8%
Male49.2%
Female50.8%
Race & ethnicity
56.9%
14%
12.3%
White56.9%
Black10.8%
Hispanic14%
Asian6%
Other12.3%
Education (25+)
24.6%
35.8%
32.2%
No HS diploma7.5%
HS diploma24.6%
Some college35.8%
Bachelor's+32.2%
Housing tenure
49.2%
50.8%
Owner49.2%
Renter50.8%

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

2021 vs 2026

How ZIP 98405 in Tacoma, WA has changed in 5 years

Rent
$1,325 → $1,560
up 17.7%
Income
$67,144 → $75,946
up 13.1%
Population
24,053 → 25,939
up 7.8%
Renter share
49.2% → 50.8%
+1.6 pts
Bachelor's+
31% → 32.2%
+1.2 pts

Rent in ZIP 98405 in Tacoma, WA has climbed 17.7% since 2021, going from about $1,325 per month to roughly $1,560 today. Local incomes tracked alongside that move, going from a median of $67,144 in 2021 to $75,946 more recently. Rent outpaced income growth by roughly 4.6 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 24,053 to 25,939 between 2021 and 2024, a 7.8% change. About 50.8% of households rent today, against 49.2% in 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 98405 in Tacoma, WA market of 2021.

Community

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Local insights

Tips for renters in ZIP 98405

About renting in ZIP 98405

Last updated: July 20, 2026

ZIP code 98405 covers Tacoma, WA. The median rent here is $1,560/mo as of July 2026. A 1-bedroom rents for a median of $1,510/mo. A 2-bedroom rents for a median of $1,860/mo.

At 25% of local median household income ($75,946/yr), ZIP 98405 ranks as affordable compared to the national benchmark of 30%. Rents have decreased 6.5% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 98405?

As of July 20, 2026, the median monthly rent in ZIP 98405 (Tacoma, WA) is $1,560. This is based on aggregated data from public sources and community submissions.

How does ZIP 98405 rent compare to the US average?

ZIP 98405's median rent of $1,560/mo is $405 (21%) below the US national median of $1,965/mo.

How does ZIP 98405 compare to other ZIPs in Washington?

ZIP 98405 is among the more affordable ZIP codes in Washington, ranking #187 out of 209 ZIPs at $1,560/mo.

How much income do you need to rent in ZIP 98405?

To keep rent at or below 30% of gross income, you would need to earn at least $62,000/year (~$30/hour full-time) to afford the median rent of $1,560/mo in ZIP 98405. The local median household income is $75,946/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 98405?

Rent in ZIP 98405 has decreased 6.5% over the past year as of July 20, 2026, offering some relief compared to 12 months ago.

Is ZIP 98405 an affordable place to rent?

ZIP 98405 is considered affordable for renters. At $1,560/mo, rent takes approximately 25% of the local median household income ($75,946/yr). The standard benchmark is 30%. ZIP 98405 falls comfortably within that range.

What percentage of ZIP 98405 residents rent vs. own?

According to Census data, approximately 50.8% of ZIP 98405 households are renters, while 49.2% are owner-occupied. With a majority renter population, ZIP 98405 has a strong rental market.

How does ZIP 98405 compare to the rest of Tacoma?

ZIP 98405 is more affordable than Tacoma overall. At $1,560/mo, it's $189 below the Tacoma citywide median of $1,749/mo.

When was rent data for ZIP 98405 last updated?

Rent data for ZIP 98405 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
25%
AFFORDABLE

At $1,560/mo, rent takes ~25% of ZIP 98405's median household income ($75,946/yr). The standard benchmark is 30%.

ZIP 98405 25%Benchmark 30%
State income taxNone
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Schools nearby

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