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ZIP Code · WA

ZIP 98407

Part of Tacoma, WA
Pop. 21,718·Pierce County·81st most expensive ZIP in Washington
Median rent (all units)
$2,182/mo
Year-over-Year
+15.4%
Month-over-Month
+4.0%
vs US Median
+$217
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 98407 · $2,182
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
$1,540
1 BR
$1,730
2 BR
$2,130
3 BR
$2,950
4 BR+
$3,350
Research median
$2,130/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
$26,184/yr
At $2,182/mo median
Location
CityTacoma
StateWA
CountyPierce County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 15.4% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+15.4% YoY, +4.0% MoM), not inventory.
Demographics

Who lives here

ZIP 98407 (Tacoma, WA) is majority owner-occupied, has a large retiree population, has a median income above the national average, 51% of residents hold a bachelor's degree or higher.

Population
21,718
Median income
$110,288
Median age
46.2
Renters
36.5%
Age distribution
18.2%
17.7%
24.2%
15.5%
24.4%
Under 1818.2%
18–3417.7%
35–5424.2%
55–6415.5%
65+24.4%
Gender
47.5%
52.5%
Male47.5%
Female52.5%
Race & ethnicity
78.1%
White78.1%
Black3.4%
Hispanic8%
Asian5%
Other5.6%
Education (25+)
15.7%
29.5%
51%
No HS diploma3.8%
HS diploma15.7%
Some college29.5%
Bachelor's+51%
Housing tenure
63.5%
36.5%
Owner63.5%
Renter36.5%

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

2021 vs 2026

How ZIP 98407 in Tacoma, WA has changed in 5 years

Rent
$1,585 → $2,182
up 37.7%
Income
$94,912 → $110,288
up 16.2%
Population
20,993 → 21,718
up 3.5%
Renter share
34.5% → 36.5%
+2.0 pts
Bachelor's+
46.2% → 51%
+4.8 pts
Median age
45.6 → 46.2
+0.6 yrs

The median rent in ZIP 98407 in Tacoma, WA stood at $1,585 in 2021 and currently runs about $2,182, reflecting a 37.7% increase over the period. Median household income rose from $94,912 to $110,288 between 2021 and 2024, a 16.2% shift. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. The population has grown by 3.5% since 2021, moving from about 20,993 residents to roughly 21,718. Renters now make up 36.5% of households, compared with 34.5% five years ago. College-educated residents now make up 51% of adults here, versus 46.2% in 2021. Taken together, the five-year picture in ZIP 98407 in Tacoma, WA reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 98407

Last updated: July 20, 2026

ZIP code 98407 covers Tacoma, WA. The median rent here is $2,182/mo as of July 2026. A 1-bedroom rents for a median of $1,730/mo. A 2-bedroom rents for a median of $2,130/mo.

At 24% of local median household income ($110,288/yr), ZIP 98407 ranks as affordable compared to the national benchmark of 30%. Rents have increased 15.4% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 98407?

As of July 20, 2026, the median monthly rent in ZIP 98407 (Tacoma, WA) is $2,182. This is based on aggregated data from public sources and community submissions.

How does ZIP 98407 rent compare to the US average?

ZIP 98407's median rent of $2,182/mo is $217 (11%) above the US national median of $1,965/mo.

How does ZIP 98407 compare to other ZIPs in Washington?

ZIP 98407 falls in the middle range for Washington, ranking #81 out of 209 ZIPs at $2,182/mo.

How much income do you need to rent in ZIP 98407?

To keep rent at or below 30% of gross income, you would need to earn at least $87,000/year (~$42/hour full-time) to afford the median rent of $2,182/mo in ZIP 98407. The local median household income is $110,288/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 98407?

Rent in ZIP 98407 has increased 15.4% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 98407 an affordable place to rent?

ZIP 98407 is considered very affordable for renters. At $2,182/mo, rent takes approximately 24% of the local median household income ($110,288/yr). The standard benchmark is 30%. ZIP 98407 falls comfortably within that range.

What percentage of ZIP 98407 residents rent vs. own?

According to Census data, approximately 36.5% of ZIP 98407 households are renters, while 63.5% are owner-occupied. ZIP 98407 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 98407 compare to the rest of Tacoma?

ZIP 98407 is pricier than Tacoma as a whole. At $2,182/mo, it's $433 above the Tacoma citywide median of $1,749/mo.

When was rent data for ZIP 98407 last updated?

Rent data for ZIP 98407 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
24%
VERY AFFORDABLE

At $2,182/mo, rent takes ~24% of ZIP 98407's median household income ($110,288/yr). The standard benchmark is 30%.

ZIP 98407 24%Benchmark 30%
State income taxNone
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