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ZIP Code · WA

ZIP 98503

Part of Lacey, WA
Pop. 41,656·Thurston County·111th most expensive ZIP in Washington
Median rent (all units)
$2,031/mo
Year-over-Year
+5.5%
Month-over-Month
+2.6%
vs US Median
+$66
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 98503 · $2,031
More expensive than 62% of US ZIP codes · National median $1,965/mo
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Medians by bedroom

Rent by unit size

Studio
$1,560
1 BR
$1,710
2 BR
$1,990
3 BR
$2,650
4 BR+
$3,340
Research median
$1,990/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
$24,372/yr
At $2,031/mo median
Location
CityLacey
StateWA
CountyThurston County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 5.5% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+5.5% YoY, +2.6% MoM), not inventory.
Demographics

Who lives here

ZIP 98503 (Lacey, WA) is majority owner-occupied, has a large retiree population, 32.1% of residents hold a bachelor's degree or higher.

Population
41,656
Median income
$89,002
Median age
41.1
Renters
41.6%
Age distribution
16.8%
24.9%
25.1%
21.5%
Under 1816.8%
18–3424.9%
35–5425.1%
55–6411.7%
65+21.5%
Gender
48.6%
51.4%
Male48.6%
Female51.4%
Race & ethnicity
67.1%
White67.1%
Black5.6%
Hispanic11.3%
Asian8.6%
Other7.4%
Education (25+)
24.1%
36.6%
32.1%
No HS diploma7.2%
HS diploma24.1%
Some college36.6%
Bachelor's+32.1%
Housing tenure
58.4%
41.6%
Owner58.4%
Renter41.6%

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

2021 vs 2026

How ZIP 98503 in Lacey, WA has changed in 5 years

Rent
$1,517 → $2,031
up 33.9%
Income
$71,964 → $89,002
up 23.7%
Population
42,023 → 41,656
down 0.9%
Renter share
43.7% → 41.6%
-2.1 pts
Bachelor's+
30.3% → 32.1%
+1.8 pts
Median age
38.4 → 41.1
+2.7 yrs

Rent in ZIP 98503 in Lacey, WA has increased 33.9% since 2021, going from about $1,517 per month to roughly $2,031 today. Local incomes tracked alongside that move, going from a median of $71,964 in 2021 to $89,002 more recently. Rent outpaced income growth by roughly 10.2 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. About 41.6% of households rent today, against 43.7% in 2021. These shifts give renters and would-be renters a longer baseline for sizing up today's listings against the ZIP 98503 in Lacey, WA market of 2021.

Community

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Local insights

Tips for renters in ZIP 98503

About renting in ZIP 98503

Last updated: July 20, 2026

ZIP code 98503 covers Lacey, WA. The median rent here is $2,031/mo as of July 2026. A 1-bedroom rents for a median of $1,710/mo. A 2-bedroom rents for a median of $1,990/mo.

At 27% of local median household income ($89,002/yr), ZIP 98503 ranks as affordable compared to the national benchmark of 30%. Rents have increased 5.5% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 98503?

As of July 20, 2026, the median monthly rent in ZIP 98503 (Lacey, WA) is $2,031. This is based on aggregated data from public sources and community submissions.

How does ZIP 98503 rent compare to the US average?

ZIP 98503's median rent of $2,031/mo is $66 (3%) above the US national median of $1,965/mo.

How does ZIP 98503 compare to other ZIPs in Washington?

ZIP 98503 falls in the middle range for Washington, ranking #111 out of 209 ZIPs at $2,031/mo.

How much income do you need to rent in ZIP 98503?

To keep rent at or below 30% of gross income, you would need to earn at least $81,000/year (~$39/hour full-time) to afford the median rent of $2,031/mo in ZIP 98503. The local median household income is $89,002/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 98503?

Rent in ZIP 98503 has increased 5.5% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 98503 an affordable place to rent?

ZIP 98503 is considered affordable for renters. At $2,031/mo, rent takes approximately 27% of the local median household income ($89,002/yr). The standard benchmark is 30%. ZIP 98503 falls comfortably within that range.

What percentage of ZIP 98503 residents rent vs. own?

According to Census data, approximately 41.6% of ZIP 98503 households are renters, while 58.4% are owner-occupied. ZIP 98503 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 98503 compare to the rest of Lacey?

ZIP 98503 is more affordable than Lacey overall. At $2,031/mo, it's $132 below the Lacey citywide median of $2,163/mo.

When was rent data for ZIP 98503 last updated?

Rent data for ZIP 98503 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
27%
AFFORDABLE

At $2,031/mo, rent takes ~27% of ZIP 98503's median household income ($89,002/yr). The standard benchmark is 30%.

ZIP 98503 27%Benchmark 30%
State income taxNone
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Public schools near ZIP 98503 (Lacey, WA)

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