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ZIP Code · WA

ZIP 98406

Part of Tacoma, WA
Pop. 24,202·Pierce County·78th most expensive ZIP in Washington
Median rent (all units)
$2,193/mo
Year-over-Year
+19.7%
Month-over-Month
+6.1%
vs US Median
+$228
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 98406 · $2,193
More expensive than 69% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,410
1 BR
$1,590
2 BR
$1,950
3 BR
$2,700
4 BR+
$3,070
Research median
$1,950/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
$26,316/yr
At $2,193/mo median
Location
CityTacoma
StateWA
CountyPierce County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 19.7% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+19.7% YoY, +6.1% MoM), not inventory.
Demographics

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.

Population
24,202
Median income
$104,264
Median age
41.7
Renters
38.7%
Age distribution
15.5%
25%
28.7%
19.1%
Under 1815.5%
18–3425%
35–5428.7%
55–6411.6%
65+19.1%
Gender
48%
52%
Male48%
Female52%
Race & ethnicity
80.7%
White80.7%
Black4.1%
Hispanic4.2%
Asian3.1%
Other7.9%
Education (25+)
18%
28.7%
48.7%
No HS diploma4.5%
HS diploma18%
Some college28.7%
Bachelor's+48.7%
Housing tenure
61.3%
38.7%
Owner61.3%
Renter38.7%

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

2021 vs 2026

How ZIP 98406 in Tacoma, WA has changed in 5 years

Rent
$1,428 → $2,193
up 53.6%
Income
$89,659 → $104,264
up 16.3%
Population
22,708 → 24,202
up 6.6%
Renter share
35.6% → 38.7%
+3.1 pts
Bachelor's+
46.2% → 48.7%
+2.5 pts
Median age
41.1 → 41.7
+0.6 yrs

Five years ago, renters in ZIP 98406 in Tacoma, WA paid around $1,428 a month. That figure now sits near $2,193, up 53.6% 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.

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About renting in ZIP 98406

Last updated: July 20, 2026

ZIP code 98406 covers Tacoma, WA. The median rent here is $2,193/mo as of July 2026. A 1-bedroom rents for a median of $1,590/mo. A 2-bedroom rents for a median of $1,950/mo.

At 25% of local median household income ($104,264/yr), ZIP 98406 ranks as affordable compared to the national benchmark of 30%. Rents have increased 19.7% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 98406?

As of July 20, 2026, the median monthly rent in ZIP 98406 (Tacoma, WA) is $2,193. This is based on aggregated data from public sources and community submissions.

How does ZIP 98406 rent compare to the US average?

ZIP 98406's median rent of $2,193/mo is $228 (12%) above the US national median of $1,965/mo.

How does ZIP 98406 compare to other ZIPs in Washington?

ZIP 98406 falls in the middle range for Washington, ranking #78 out of 209 ZIPs at $2,193/mo.

How much income do you need to rent in ZIP 98406?

To keep rent at or below 30% of gross income, you would need to earn at least $88,000/year (~$42/hour full-time) to afford the median rent of $2,193/mo in ZIP 98406. The local median household income is $104,264/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 98406?

Rent in ZIP 98406 has increased 19.7% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 98406 an affordable place to rent?

ZIP 98406 is considered affordable for renters. At $2,193/mo, rent takes approximately 25% of the local median household income ($104,264/yr). The standard benchmark is 30%. ZIP 98406 falls comfortably within that range.

What percentage of ZIP 98406 residents rent vs. own?

According to Census data, approximately 38.7% of ZIP 98406 households are renters, while 61.3% are owner-occupied. ZIP 98406 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 98406 compare to the rest of Tacoma?

ZIP 98406 is pricier than Tacoma as a whole. At $2,193/mo, it's $444 above the Tacoma citywide median of $1,749/mo.

When was rent data for ZIP 98406 last updated?

Rent data for ZIP 98406 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
25%
AFFORDABLE

At $2,193/mo, rent takes ~25% of ZIP 98406's median household income ($104,264/yr). The standard benchmark is 30%.

ZIP 98406 25%Benchmark 30%
State income taxNone
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Schools nearby

Public schools near ZIP 98406 (Tacoma, WA)

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