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ZIP Code · WA

ZIP 98498

Part of Lakewood, WA
Pop. 29,209·Pierce County·157th most expensive ZIP in Washington
Median rent (all units)
$1,774/mo
Year-over-Year
+3.9%
Month-over-Month
+5.0%
vs US Median
-$191
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 98498 · $1,774
More affordable than 53% of US ZIP codes · National median $1,965/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: July 20, 2026

Annual cost
$21,288/yr
At $1,774/mo median
Location
StateWA
CountyPierce County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 3.9% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+3.9% YoY, +5.0% MoM), not inventory.
Demographics

Who lives here

ZIP 98498 (Lakewood, WA) is majority owner-occupied, has a median income above the national average, 31.8% of residents hold a bachelor's degree or higher.

Population
29,209
Median income
$91,664
Median age
40.8
Renters
36.1%
Age distribution
17.3%
25.5%
24.3%
13.3%
19.6%
Under 1817.3%
18–3425.5%
35–5424.3%
55–6413.3%
65+19.6%
Gender
49.9%
50.1%
Male49.9%
Female50.1%
Race & ethnicity
54.6%
13.1%
14.5%
White54.6%
Black10.3%
Hispanic13.1%
Asian7.6%
Other14.5%
Education (25+)
21.3%
38.1%
31.8%
No HS diploma8.9%
HS diploma21.3%
Some college38.1%
Bachelor's+31.8%
Housing tenure
63.9%
36.1%
Owner63.9%
Renter36.1%

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

2021 vs 2026

How ZIP 98498 in Lakewood, WA has changed in 5 years

Rent
$1,334 → $1,774
up 33.0%
Income
$77,905 → $91,664
up 17.7%
Population
29,062 → 29,209
up 0.5%
Renter share
40.9% → 36.1%
-4.8 pts
Bachelor's+
29.9% → 31.8%
+1.9 pts
Median age
38.9 → 40.8
+1.9 yrs

Since 2021, the typical rent in ZIP 98498 in Lakewood, WA has increased from $1,334 to $1,774, a 33.0% change over five years. Household income in the area moved from $77,905 to $91,664 across the same window, up 17.7% versus 2021. That spread, with rent up faster than earnings, points to a tougher affordability environment than five years ago. Renters now make up 36.1% of households, compared with 40.9% five years ago. Reading these numbers side by side helps frame whether current listings in ZIP 98498 in Lakewood, WA look reasonable against where the market sat half a decade ago.

Community

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Local insights

Tips for renters in ZIP 98498

About renting in ZIP 98498

Last updated: July 20, 2026

ZIP code 98498 covers Lakewood, WA. The median rent here is $1,774/mo as of July 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 ($91,664/yr), ZIP 98498 ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.9% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 98498?

As of July 20, 2026, the median monthly rent in ZIP 98498 (Lakewood, WA) is $1,774. This is based on aggregated data from public sources and community submissions.

How does ZIP 98498 rent compare to the US average?

ZIP 98498's median rent of $1,774/mo is $191 (10%) below the US national median of $1,965/mo.

How does ZIP 98498 compare to other ZIPs in Washington?

ZIP 98498 is among the more affordable ZIP codes in Washington, ranking #157 out of 209 ZIPs at $1,774/mo.

How much income do you need to rent in ZIP 98498?

To keep rent at or below 30% of gross income, you would need to earn at least $71,000/year (~$34/hour full-time) to afford the median rent of $1,774/mo in ZIP 98498. The local median household income is $91,664/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 98498?

Rent in ZIP 98498 has increased 3.9% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 98498 an affordable place to rent?

ZIP 98498 is considered very affordable for renters. At $1,774/mo, rent takes approximately 23% of the local median household income ($91,664/yr). The standard benchmark is 30%. ZIP 98498 falls comfortably within that range.

What percentage of ZIP 98498 residents rent vs. own?

According to Census data, approximately 36.1% of ZIP 98498 households are renters, while 63.9% are owner-occupied. ZIP 98498 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 98498 compare to the rest of Lakewood?

ZIP 98498 is pricier than Lakewood as a whole. At $1,774/mo, it's $66 above the Lakewood citywide median of $1,708/mo.

When was rent data for ZIP 98498 last updated?

Rent data for ZIP 98498 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
23%
VERY AFFORDABLE

At $1,774/mo, rent takes ~23% of ZIP 98498's median household income ($91,664/yr). The standard benchmark is 30%.

ZIP 98498 23%Benchmark 30%
State income taxNone
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Public schools near ZIP 98498 (Lakewood, WA)

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