ZIP Code · WA

ZIP 98499

Part of Lakewood, WA

Pop. 32,464·Pierce County·170th most expensive ZIP in Washington

Median rent (all units)

$1,691/mo

Year-over-Year

+1.8%

Month-over-Month

+0.4%

vs US Median

-$241

Reported rents

Stable (Monthly)

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Most AffordableMost Expensive

ZIP 98499 · $1,691

More affordable than 59% 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

Cheapest month to sign

January. Asking rents in ZIP 98499 usually run 1% below trend in January and 1% above it in August, about $34 a month apart at today's median. Based on 5 years of data.

Compared with the peak

Rent in ZIP 98499 is 0.5% below its high of $1,700 in December 2025, at $1,691 as of September 2026.

Past year vs. the rest of Washington

Rent in ZIP 98499 changed +1.8% over the year to September 2026. Across the 193 Washington ZIP codes Zillow tracks, the typical change was +2.5%.

Recent direction

Rent has risen 2 months in a row, and rose in 6 of the last 12 months.

What a typical income covers

30% of the median household income ($67,292) is $1,682 a month. That covers HUD's Fair Market Rent for up to a 1-bedroom ($1,510); a 2-bedroom is $1,860.

From Zillow's monthly rent index (ZORI) for ZIP 98499. 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

$20,292/yr

At $1,691/mo median

Location

CityLakewood

StateWA

CountyPierce County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (1.8% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+1.8% YoY, +0.4% MoM), not inventory.

Demographics

Who lives here

ZIP 98499 (Lakewood, WA) is majority renter-occupied, 18.5% of residents hold a bachelor's degree or higher.

Population

32,464

Median income

$67,292

Median age

36.2

Renters

62.1%

Age distribution

20.6%

27.9%

22.9%

12.4%

16.2%

Under 1820.6%

18–3427.9%

35–5422.9%

55–6412.4%

65+16.2%

Gender

48.8%

51.2%

Male48.8%

Female51.2%

Race & ethnicity

43.8%

16.9%

22.7%

White43.8%

Black16.9%

Hispanic22.7%

Asian6.7%

Other9.8%

Education (25+)

13.6%

30.1%

37.8%

18.5%

No HS diploma13.6%

HS diploma30.1%

Some college37.8%

Bachelor's+18.5%

Housing tenure

37.9%

62.1%

Owner37.9%

Renter62.1%

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

2021 vs 2026

How ZIP 98499 in Lakewood, WA has changed in 5 years

Rent

$1,370 → $1,691

up 23.4%

Income

$55,053 → $67,292

up 22.2%

Population

33,589 → 32,464

down 3.3%

Renter share

64.6% → 62.1%

-2.5 pts

Bachelor's+

20.2% → 18.5%

-1.7 pts

Median age

34.5 → 36.2

+1.7 yrs

The median rent in ZIP 98499 in Lakewood, WA stood at $1,370 in 2021 and currently runs about $1,691, reflecting a 23.4% increase over the period. Census figures show median household income at $67,292 today, compared with $55,053 five years earlier. The population has contracted by 3.3% since 2021, moving from about 33,589 residents to roughly 32,464. Renters now make up 62.1% of households, compared with 64.6% five years ago. The combined trend lines point to a market that has changed measurably from where it stood in early 2021.

Community

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Local insights

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About renting in ZIP 98499

Last updated: October 17, 2026

ZIP code 98499 covers Lakewood, WA. The median rent here is $1,691/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 30% of local median household income ($67,292/yr), ZIP 98499 ranks as moderate compared to the national benchmark of 30%. Rents have increased 1.8% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 98499?

To keep rent at or below 30% of gross income, you would need to earn at least $68,000/year (about $33/hour full-time) to afford the median rent of $1,691/mo in ZIP 98499. The local median household income is $67,292/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 98499?

Rent in ZIP 98499 has risen 1.8% over the past year as of September 2026. It sits 0.5% below its high of $1,700 in December 2025.

When is the cheapest time to rent in ZIP 98499?

Asking rents in ZIP 98499 are usually lowest in January, about 1% below their yearly trend, and highest in August, about 1% above it. At today's median that is a gap of roughly $34 a month. This pattern comes from 5 years of Zillow rent data.

How does ZIP 98499 compare to other ZIPs in Washington?

ZIP 98499 is one of the more affordable among Washington ZIP codes for rent, ranking #170 of 207 at $1,691/mo. Over the year to September 2026, rent in ZIP 98499 changed +1.8%, against a typical +2.5% across the 193 Washington ZIP codes Zillow tracks.