ZIP Code · WA

ZIP 98465

Part of Tacoma, WA

Pop. 7,178·Pierce County·96th most expensive ZIP in Washington

Median rent (all units)

$2,067/mo

Year-over-Year

-0.8%

Month-over-Month

-0.7%

vs US Median

+$135

Reported rents

Falling (Monthly)

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Most AffordableMost Expensive

ZIP 98465 · $2,067

More expensive than 65% of US ZIP codes · National median $1,932/mo

Rent check

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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

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Last updated: October 17, 2026

From the history

What the numbers show

Past year vs. the rest of Washington

Rent in ZIP 98465 changed -0.8% over the year to September 2026. Across the 193 Washington ZIP codes Zillow tracks, the typical change was +2.5%.

Recent direction

Rent has fallen 3 months in a row, and rose in 5 of the last 12 months.

What a typical income covers

30% of the median household income ($73,226) is $1,831 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,510); a 2-bedroom is $1,860.

Rank in Tacoma

8th cheapest of 11 ZIP codes in Tacoma.

Cheaper nearby

ZIP 98405, 3 miles away, rents for 20% less ($1,653/mo), about $5,000 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 98465. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$24,804/yr

At $2,067/mo median

Location

CityTacoma

StateWA

CountyPierce County

Rent Market Meter

Renter's Market

Renter's MarketBalancedLandlord's Market

Rents are softening (down 0.8% YoY), so renters have negotiating leverage.

Based on rent-price momentum (-0.8% YoY, -0.7% MoM), not inventory.

Demographics

Who lives here

ZIP 98465 (Tacoma, WA) is roughly split between renters and owners, has a large retiree population, 43.9% of residents hold a bachelor's degree or higher.

Population

7,178

Median income

$73,226

Median age

Renters

46.9%

Age distribution

15.6%

25.8%

23.3%

13.6%

21.6%

Under 1815.6%

18–3425.8%

35–5423.3%

55–6413.6%

65+21.6%

Gender

48.7%

51.3%

Male48.7%

Female51.3%

Race & ethnicity

64.4%

12.9%

White64.4%

Black12.9%

Hispanic11.1%

Asian4.8%

Other6.7%

Education (25+)

21.4%

31.1%

43.9%

No HS diploma3.5%

HS diploma21.4%

Some college31.1%

Bachelor's+43.9%

Housing tenure

53.1%

46.9%

Owner53.1%

Renter46.9%

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

2021 vs 2026

How ZIP 98465 in Tacoma, WA has changed in 5 years

Income

$65,143 → $73,226

up 12.4%

Population

7,092 → 7,178

up 1.2%

Renter share

48.7% → 46.9%

-1.8 pts

Bachelor's+

38% → 43.9%

+5.9 pts

On the earnings side, the typical household in ZIP 98465 in Tacoma, WA now reports about $73,226, up from $65,143 in 2021. The population has grown by 1.2% since 2021, moving from about 7,092 residents to roughly 7,178. Renters now make up 46.9% of households, compared with 48.7% five years ago. College-educated residents now make up 43.9% of adults here, versus 38% in 2021.

Community

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Local insights

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About renting in ZIP 98465

Last updated: October 17, 2026

ZIP code 98465 covers Tacoma, WA. The median rent here is $2,067/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 34% of local median household income ($73,226/yr), ZIP 98465 ranks as moderate compared to the national benchmark of 30%. Rents have decreased 0.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 98465?

To keep rent at or below 30% of gross income, you would need to earn at least $83,000/year (about $40/hour full-time) to afford the median rent of $2,067/mo in ZIP 98465. The local median household income is $73,226/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 98465?

Rent in ZIP 98465 has fallen 0.8% over the past year.

How does ZIP 98465 compare to other ZIPs in Washington?

ZIP 98465 is in the middle among Washington ZIP codes for rent, ranking #96 of 207 at $2,067/mo. Over the year to September 2026, rent in ZIP 98465 changed -0.8%, against a typical +2.5% across the 193 Washington ZIP codes Zillow tracks.