ZIP Code · WA

ZIP 98466

Part of University Place, WA

Pop. 30,327·Pierce County·110th most expensive ZIP in Washington

Median rent (all units)

$2,022/mo

Year-over-Year

+3.8%

Month-over-Month

+0.6%

vs US Median

+$90

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 98466 · $2,022

More expensive than 63% of US ZIP codes · National median $1,932/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: October 17, 2026

From the history

What the numbers show

Cheapest month to sign

January. Asking rents in ZIP 98466 usually run 1.3% below trend in January and 0.9% above it in July, about $44 a month apart at today's median. Based on 7 years of data.

Compared with the peak

Rent in ZIP 98466 is at its highest level since Zillow's records here began in March 2019.

Past year vs. the rest of Washington

Rent in ZIP 98466 changed +3.7% over the year to September 2026. Across the 193 Washington ZIP codes Zillow tracks, the typical change was +2.5%.

Since before the pandemic

Rent in ZIP 98466 is 43.7% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.

Recent direction

Rent has risen 4 months in a row, and rose in 10 of the last 12 months.

What a typical income covers

30% of the median household income ($101,778) is $2,544 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,950); a 3-bedroom is $2,700.

Cheaper nearby

ZIP 98467, 2 miles away, rents for 16% less ($1,702/mo), about $3,800 a year in savings.

From Zillow's monthly rent index (ZORI) for ZIP 98466. 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.

Annual cost

$24,264/yr

At $2,022/mo median

Location

CityUniversity Place

StateWA

CountyPierce County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (3.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+3.8% YoY, +0.6% MoM), not inventory.

Demographics

Who lives here

ZIP 98466 (University Place, WA) is roughly split between renters and owners, has a median income above the national average, 44.7% of residents hold a bachelor's degree or higher.

Population

30,327

Median income

$101,778

Median age

39.9

Renters

46.8%

Age distribution

21.8%

21.4%

27.4%

18.5%

Under 1821.8%

18–3421.4%

35–5427.4%

55–6410.9%

65+18.5%

Gender

47.5%

52.5%

Male47.5%

Female52.5%

Race & ethnicity

65.9%

White65.9%

Black5.7%

Hispanic11.7%

Asian7.3%

Other9.4%

Education (25+)

20.4%

31.2%

44.7%

No HS diploma3.7%

HS diploma20.4%

Some college31.2%

Bachelor's+44.7%

Housing tenure

53.2%

46.8%

Owner53.2%

Renter46.8%

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

2021 vs 2026

How ZIP 98466 in University Place, WA has changed in 5 years

Rent

$1,576 → $2,022

up 28.3%

Income

$81,196 → $101,778

up 25.3%

Population

29,989 → 30,327

up 1.1%

Renter share

46.7% → 46.8%

+0.1 pts

Bachelor's+

41.8% → 44.7%

+2.9 pts

Median age

37.1 → 39.9

+2.8 yrs

Five years ago, renters in ZIP 98466 in University Place, WA paid around $1,576 a month. That figure now sits near $2,022, up 28.3% from the 2021 baseline. Census figures show median household income at $101,778 today, compared with $81,196 five years earlier. Because rent grew faster than wages over the same span, the affordability picture has tightened relative to 2021. Census counts show ZIP 98466 in University Place, WA adding about 338 residents over the five-year window, up 1.1% on net. Bachelor's-degree-or-higher attainment moved from 41.8% to 44.7% across the same window. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

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About renting in ZIP 98466

Last updated: October 17, 2026

ZIP code 98466 covers University Place, WA. The median rent here is $2,022/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 24% of local median household income ($101,778/yr), ZIP 98466 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 98466?

To keep rent at or below 30% of gross income, you would need to earn at least $81,000/year (about $39/hour full-time) to afford the median rent of $2,022/mo in ZIP 98466. The local median household income is $101,778/yr, so the typical household meets that bar.

Is rent going up or down in ZIP 98466?

Rent in ZIP 98466 has risen 3.8% over the past year as of September 2026. That is the highest level since Zillow's records here began in March 2019.

When is the cheapest time to rent in ZIP 98466?

Asking rents in ZIP 98466 are usually lowest in January, about 1.3% below their yearly trend, and highest in July, about 0.9% above it. At today's median that is a gap of roughly $44 a month. This pattern comes from 7 years of Zillow rent data.

How does ZIP 98466 compare to other ZIPs in Washington?

ZIP 98466 is in the middle among Washington ZIP codes for rent, ranking #110 of 207 at $2,022/mo. Over the year to September 2026, rent in ZIP 98466 changed +3.7%, against a typical +2.5% across the 193 Washington ZIP codes Zillow tracks.