ZIP 98406
Is your rent fair?
Compare your rent to the local median.
Rent by unit size
Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).
12-month history
Last updated: October 17, 2026
What the numbers show
January. Asking rents in ZIP 98406 usually run 1.7% below trend in January and 1.5% above it in August, about $75 a month apart at today's median. Based on 8 years of data.
Rent in ZIP 98406 is 0.1% below its high of $2,345 in July 2026, at $2,343 as of September 2026.
Rent in ZIP 98406 changed +3.9% over the year to September 2026. Across the 193 Washington ZIP codes Zillow tracks, the typical change was +2.5%.
From 2019 to 2024, rent in ZIP 98406 rose 37% while median household income rose 27% ($82,111 to $104,264). Rent outpaced income.
Rent in ZIP 98406 is 40.3% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent rose in 8 of the last 12 months.
30% of the median household income ($104,264) is $2,607 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,950); a 3-bedroom is $2,700.
11th cheapest of 11 ZIP codes in Tacoma.
ZIP 98465, 1 mile away, rents for 12% less ($2,067/mo), about $3,300 a year in savings.
From Zillow's monthly rent index (ZORI) for ZIP 98406. 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.
Who lives here
ZIP 98406 (Tacoma, WA) is majority owner-occupied, has a median income above the national average, 48.7% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How ZIP 98406 in Tacoma, WA has changed in 5 years
Five years ago, renters in ZIP 98406 in Tacoma, WA paid around $1,836 a month. That figure now sits near $2,343, up 27.6% from the 2021 baseline. On the earnings side, the typical household in ZIP 98406 in Tacoma, WA now reports about $104,264, up from $89,659 in 2021. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 98406 in Tacoma, WA adding about 1,494 residents over the five-year window, up 6.6% on net. The renter share has risen from 35.6% to 38.7%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 46.2% to 48.7% across the same window. For context, the 2021 to 2026 window covers an unusually volatile run for US rents nationally, and ZIP 98406 in Tacoma, WA reflects that arc in its own way.
Discussions about ZIP 98406
No discussions yet. Start the conversation.
Tips for renters in ZIP 98406
Last updated: October 17, 2026
ZIP code 98406 covers Tacoma, WA. The median rent here is $2,343/mo as of October 2026. A 1-bedroom rents for a median of $1,590/mo. A 2-bedroom rents for a median of $1,950/mo.
At 27% of local median household income ($104,264/yr), ZIP 98406 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.9% over the past year.
Frequently asked questions
How much income do you need to rent in ZIP 98406?
Is rent going up or down in ZIP 98406?
When is the cheapest time to rent in ZIP 98406?
Has rent outpaced income in ZIP 98406?
How does ZIP 98406 compare to other ZIPs in Washington?
How does ZIP 98406 compare to the rest of Tacoma?
At $2,343/mo, rent takes ~27% of ZIP 98406's median household income ($104,264/yr). The standard benchmark is 30%.
How does this area stack up?
Pick another city or ZIP to compare.
Be the first to submit your rent for this ZIP.
No discussions yet.