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ZIP Code · WA

ZIP 98502

Part of Olympia, WA
Pop. 35,398·Thurston County·116th most expensive ZIP in Washington
Median rent (all units)
$2,011/mo
Year-over-Year
+4.5%
Month-over-Month
-1.2%
vs US Median
+$46
Falling (Monthly)
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Most AffordableMost Expensive
ZIP 98502 · $2,011
More expensive than 61% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,500
1 BR
$1,640
2 BR
$1,910
3 BR
$2,550
4 BR+
$3,200
Research median
$1,910/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
$24,132/yr
At $2,011/mo median
Location
StateWA
CountyThurston County
Rent Market Meter
Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are climbing (4.5% YoY), so leverage tilts toward landlords. Act sooner rather than later.
Based on rent-price momentum (+4.5% YoY, -1.2% MoM), not inventory.
Demographics

Who lives here

ZIP 98502 (Olympia, WA) is majority owner-occupied, has a large retiree population, has a median income above the national average, 52% of residents hold a bachelor's degree or higher.

Population
35,398
Median income
$92,207
Median age
40.6
Renters
42.6%
Age distribution
20.1%
22.4%
25.2%
20.5%
Under 1820.1%
18–3422.4%
35–5425.2%
55–6411.8%
65+20.5%
Gender
49.2%
50.8%
Male49.2%
Female50.8%
Race & ethnicity
73%
White73%
Black3.1%
Hispanic10.9%
Asian6.2%
Other6.7%
Education (25+)
16.2%
28%
52%
No HS diploma3.8%
HS diploma16.2%
Some college28%
Bachelor's+52%
Housing tenure
57.4%
42.6%
Owner57.4%
Renter42.6%

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

2021 vs 2026

How ZIP 98502 in Olympia, WA has changed in 5 years

Rent
$1,547 → $2,011
up 30.0%
Income
$78,647 → $92,207
up 17.2%
Population
35,954 → 35,398
down 1.5%
Renter share
43% → 42.6%
-0.4 pts
Bachelor's+
48% → 52%
+4.0 pts
Median age
37.7 → 40.6
+2.9 yrs

Rent in ZIP 98502 in Olympia, WA has increased 30.0% since 2021, going from about $1,547 per month to roughly $2,011 today. Household income in the area moved from $78,647 to $92,207 across the same window, up 17.2% versus 2021. Rent outpaced income growth by roughly 12.8 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 35,954 to 35,398 between 2021 and 2024, a 1.5% change. Educational attainment has shifted as well, with the share of adults holding a bachelor's degree or higher climbed from 48% to 52%. Reading these numbers side by side helps frame whether current listings in ZIP 98502 in Olympia, WA look reasonable against where the market sat half a decade ago.

Community

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Local insights

Tips for renters in ZIP 98502

About renting in ZIP 98502

Last updated: July 20, 2026

ZIP code 98502 covers Olympia, WA. The median rent here is $2,011/mo as of July 2026. A 1-bedroom rents for a median of $1,640/mo. A 2-bedroom rents for a median of $1,910/mo.

At 26% of local median household income ($92,207/yr), ZIP 98502 ranks as affordable compared to the national benchmark of 30%. Rents have increased 4.5% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 98502?

As of July 20, 2026, the median monthly rent in ZIP 98502 (Olympia, WA) is $2,011. This is based on aggregated data from public sources and community submissions.

How does ZIP 98502 rent compare to the US average?

ZIP 98502's median rent of $2,011/mo is $46 (2%) above the US national median of $1,965/mo.

How does ZIP 98502 compare to other ZIPs in Washington?

ZIP 98502 falls in the middle range for Washington, ranking #116 out of 209 ZIPs at $2,011/mo.

How much income do you need to rent in ZIP 98502?

To keep rent at or below 30% of gross income, you would need to earn at least $80,000/year (~$38/hour full-time) to afford the median rent of $2,011/mo in ZIP 98502. The local median household income is $92,207/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 98502?

Rent in ZIP 98502 has increased 4.5% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 98502 an affordable place to rent?

ZIP 98502 is considered affordable for renters. At $2,011/mo, rent takes approximately 26% of the local median household income ($92,207/yr). The standard benchmark is 30%. ZIP 98502 falls comfortably within that range.

What percentage of ZIP 98502 residents rent vs. own?

According to Census data, approximately 42.6% of ZIP 98502 households are renters, while 57.4% are owner-occupied. ZIP 98502 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 98502 compare to the rest of Olympia?

ZIP 98502 is more affordable than Olympia overall. At $2,011/mo, it's $2 below the Olympia citywide median of $2,013/mo.

When was rent data for ZIP 98502 last updated?

Rent data for ZIP 98502 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
26%
AFFORDABLE

At $2,011/mo, rent takes ~26% of ZIP 98502's median household income ($92,207/yr). The standard benchmark is 30%.

ZIP 98502 26%Benchmark 30%
State income taxNone
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Schools nearby

Public schools near ZIP 98502 (Olympia, WA)

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