ZIP Code · WA

ZIP 98408

Part of Tacoma, WA

Pop. 21,009·Pierce County·185th most expensive ZIP in Washington

Median rent (all units)

$1,581/mo

Year-over-Year

Stable

Month-over-Month

-0.8%

vs US Median

-$351

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 98408 · $1,581

More affordable than 67% of US ZIP codes · National median $1,932/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: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 98408 is 1.9% below its high of $1,612 in December 2025, at $1,581 as of September 2026.

Past year vs. the rest of Washington

Rent in ZIP 98408 changed 0.0% over the year to September 2026. Across the 193 Washington ZIP codes Zillow tracks, the typical change was +2.5%.

Recent direction

Rent rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($80,899) is $2,022 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

1st cheapest of 11 ZIP codes in Tacoma.

From Zillow's monthly rent index (ZORI) for ZIP 98408. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$18,972/yr

At $1,581/mo median

Location

CityTacoma

StateWA

CountyPierce County

Rent Market Meter

Balanced Market

Renter's MarketBalancedLandlord's Market

Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.

Based on rent-price momentum (+0.0% YoY, -0.8% MoM), not inventory.

Demographics

Who lives here

ZIP 98408 (Tacoma, WA) is majority owner-occupied, 25.6% of residents hold a bachelor's degree or higher.

Population

21,009

Median income

$80,899

Median age

38.1

Renters

28.7%

Age distribution

21.5%

23.6%

27.4%

13.2%

14.3%

Under 1821.5%

18–3423.6%

35–5427.4%

55–6413.2%

65+14.3%

Gender

48.6%

51.4%

Male48.6%

Female51.4%

Race & ethnicity

55.6%

12.8%

White55.6%

Black8.8%

Hispanic11%

Asian11.8%

Other12.8%

Education (25+)

28.9%

35.8%

25.6%

No HS diploma9.7%

HS diploma28.9%

Some college35.8%

Bachelor's+25.6%

Housing tenure

71.3%

28.7%

Owner71.3%

Renter28.7%

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

2022 vs 2026

How ZIP 98408 in Tacoma, WA has changed in 5 years

Rent

$1,371 → $1,581

up 15.3%

Income

$64,297 → $80,899

up 25.8%

Population

22,016 → 21,009

down 4.6%

Renter share

35.7% → 28.7%

-7.0 pts

Bachelor's+

21.3% → 25.6%

+4.3 pts

Five years ago, renters in ZIP 98408 in Tacoma, WA paid around $1,371 a month. That figure now sits near $1,581, up 15.3% from the 2022 baseline. Median household income climbed from $64,297 to $80,899 between 2021 and 2024, a 25.8% shift. With wages climbing faster than rent over the same window, renters here have a bit more breathing room than they did five years back. Census counts show ZIP 98408 in Tacoma, WA losing about 1,007 residents over the five-year window, down 4.6% on net. The renter share has eased from 35.7% to 28.7%, with owner-occupied housing accounting for the remainder. Bachelor's-degree-or-higher attainment moved from 21.3% to 25.6% across the same window. Taken together, the five-year picture in ZIP 98408 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 98408

Last updated: October 17, 2026

ZIP code 98408 covers Tacoma, WA. The median rent here is $1,581/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 23% of local median household income ($80,899/yr), ZIP 98408 ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 98408?

To keep rent at or below 30% of gross income, you would need to earn at least $63,000/year (about $30/hour full-time) to afford the median rent of $1,581/mo in ZIP 98408. The local median household income is $80,899/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 98408?

Rent in ZIP 98408 has been roughly flat over the past year as of September 2026, a 0.0% change. It sits 1.9% below its high of $1,612 in December 2025.

How does ZIP 98408 compare to other ZIPs in Washington?

ZIP 98408 is one of the more affordable among Washington ZIP codes for rent, ranking #185 of 207 at $1,581/mo. Over the year to September 2026, rent in ZIP 98408 changed 0.0%, against a typical +2.5% across the 193 Washington ZIP codes Zillow tracks.