ZIP Code · WA

ZIP 98405

Part of Tacoma, WA

Pop. 25,939·Pierce County·179th most expensive ZIP in Washington

Median rent (all units)

$1,653/mo

Year-over-Year

+3.0%

Month-over-Month

+0.3%

vs US Median

-$279

Reported rents

Stable (Monthly)

Be the first to discuss 98405 rents ↓

Most AffordableMost Expensive

ZIP 98405 · $1,653

More affordable than 62% of US ZIP codes · National median $1,932/mo

Rent check

Is your rent fair?

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

Loading…

Last updated: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

November. Asking rents in ZIP 98405 usually run 0.6% below trend in November and 1.1% above it in August, about $28 a month apart at today's median. Based on 11 years of data.

Compared with the peak

Rent in ZIP 98405 is at its highest level since Zillow's records here began in January 2015.

Past year vs. the rest of Washington

Rent in ZIP 98405 changed +3.1% 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 98405 rose 39.2% while median household income rose 40.5% ($54,043 to $75,946). Income kept ahead of rent.

Since before the pandemic

Rent in ZIP 98405 is 39.5% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

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 ($75,946) is $1,899 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

3rd cheapest of 11 ZIP codes in Tacoma.

From Zillow's monthly rent index (ZORI) for ZIP 98405. 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

$19,836/yr

At $1,653/mo median

Location

CityTacoma

StateWA

CountyPierce County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (3.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+3.0% YoY, +0.3% 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

$1,288 → $1,653

up 28.3%

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 28.3% since 2021, going from about $1,288 per month to roughly $1,653 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 15.2 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

Discussions about ZIP 98405

No discussions yet. Start the conversation.

Local insights

Tips for renters in ZIP 98405

About renting in ZIP 98405

Last updated: October 17, 2026

ZIP code 98405 covers Tacoma, WA. The median rent here is $1,653/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 26% of local median household income ($75,946/yr), ZIP 98405 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.0% over the past year.

FAQ

Frequently asked questions

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 $66,000/year (about $32/hour full-time) to afford the median rent of $1,653/mo in ZIP 98405. The local median household income is $75,946/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 98405?

Rent in ZIP 98405 has risen 3.0% over the past year as of September 2026. That is the highest level since Zillow's records here began in January 2015.

When is the cheapest time to rent in ZIP 98405?

Asking rents in ZIP 98405 are usually lowest in November, about 0.6% below their yearly trend, and highest in August, about 1.1% above it. At today's median that is a gap of roughly $28 a month. This pattern comes from 11 years of Zillow rent data.

Has rent outpaced income in ZIP 98405?

No. From 2019 to 2024, rent in ZIP 98405 rose 39.2% while median household income rose 40.5%, from $54,043 to $75,946. Rent is Zillow's yearly average; income is the Census 5-year estimate for the same years.

How does ZIP 98405 compare to other ZIPs in Washington?

ZIP 98405 is one of the more affordable among Washington ZIP codes for rent, ranking #179 of 207 at $1,653/mo. Over the year to September 2026, rent in ZIP 98405 changed +3.1%, against a typical +2.5% across the 193 Washington ZIP codes Zillow tracks.