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ZIP Code · WA

ZIP 98506

Part of Olympia, WA
Pop. 18,497·Thurston County·120th most expensive ZIP in Washington
Median rent (all units)
$2,006/mo
Year-over-Year
+25.1%
Month-over-Month
+15.3%
vs US Median
+$41
Rising (Monthly)
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Most AffordableMost Expensive
ZIP 98506 · $2,006
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
$1,440
1 BR
$1,580
2 BR
$1,840
3 BR
$2,450
4 BR+
$3,090
Research median
$1,840/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
$24,072/yr
At $2,006/mo median
Location
StateWA
CountyThurston County
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 25.1% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+25.1% YoY, +15.3% MoM), not inventory.
Demographics

Who lives here

ZIP 98506 (Olympia, WA) is majority owner-occupied, has a large retiree population, has a median income above the national average, 50.8% of residents hold a bachelor's degree or higher.

Population
18,497
Median income
$91,596
Median age
48.4
Renters
33.7%
Age distribution
13.9%
15.8%
28.1%
14%
28.2%
Under 1813.9%
18–3415.8%
35–5428.1%
55–6414%
65+28.2%
Gender
46.2%
53.8%
Male46.2%
Female53.8%
Race & ethnicity
80.4%
White80.4%
Black1.9%
Hispanic6.8%
Asian5.2%
Other5.7%
Education (25+)
18.4%
27.5%
50.8%
No HS diploma3.2%
HS diploma18.4%
Some college27.5%
Bachelor's+50.8%
Housing tenure
66.3%
33.7%
Owner66.3%
Renter33.7%

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

2021 vs 2026

How ZIP 98506 in Olympia, WA has changed in 5 years

Income
$79,833 → $91,596
up 14.7%
Population
18,232 → 18,497
up 1.5%
Renter share
31.6% → 33.7%
+2.1 pts
Bachelor's+
49.9% → 50.8%
+0.9 pts
Median age
47.7 → 48.4
+0.7 yrs

Household income in the area moved from $79,833 to $91,596 across the same window, up 14.7% versus 2021. Census counts show ZIP 98506 in Olympia, WA adding about 265 residents over the five-year window, up 1.5% on net. The renter share has risen from 31.6% to 33.7%, with owner-occupied housing accounting for the remainder.

Community

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Local insights

Tips for renters in ZIP 98506

About renting in ZIP 98506

Last updated: July 20, 2026

ZIP code 98506 covers Olympia, WA. The median rent here is $2,006/mo as of July 2026. A 1-bedroom rents for a median of $1,580/mo. A 2-bedroom rents for a median of $1,840/mo.

At 26% of local median household income ($91,596/yr), ZIP 98506 ranks as affordable compared to the national benchmark of 30%. Rents have increased 25.1% over the past year.

FAQ

Frequently asked questions

How much is rent in ZIP code 98506?

As of July 20, 2026, the median monthly rent in ZIP 98506 (Olympia, WA) is $2,006. This is based on aggregated data from public sources and community submissions.

How does ZIP 98506 rent compare to the US average?

ZIP 98506's median rent of $2,006/mo is $41 (2%) above the US national median of $1,965/mo.

How does ZIP 98506 compare to other ZIPs in Washington?

ZIP 98506 falls in the middle range for Washington, ranking #120 out of 209 ZIPs at $2,006/mo.

How much income do you need to rent in ZIP 98506?

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 $2,006/mo in ZIP 98506. The local median household income is $91,596/yr, meaning the typical household meets that threshold.

Is rent going up or down in ZIP 98506?

Rent in ZIP 98506 has increased 25.1% over the past year as of July 20, 2026, putting upward pressure on renter budgets.

Is ZIP 98506 an affordable place to rent?

ZIP 98506 is considered affordable for renters. At $2,006/mo, rent takes approximately 26% of the local median household income ($91,596/yr). The standard benchmark is 30%. ZIP 98506 falls comfortably within that range.

What percentage of ZIP 98506 residents rent vs. own?

According to Census data, approximately 33.7% of ZIP 98506 households are renters, while 66.3% are owner-occupied. ZIP 98506 leans toward homeownership, which can mean a smaller rental inventory.

How does ZIP 98506 compare to the rest of Olympia?

ZIP 98506 is more affordable than Olympia overall. At $2,006/mo, it's $7 below the Olympia citywide median of $2,013/mo.

When was rent data for ZIP 98506 last updated?

Rent data for ZIP 98506 reflects July 20, 2026. RentDataNow refreshes all data monthly using public and private datasets.
Income Affordability
26%
AFFORDABLE

At $2,006/mo, rent takes ~26% of ZIP 98506's median household income ($91,596/yr). The standard benchmark is 30%.

ZIP 98506 26%Benchmark 30%
State income taxNone
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Schools nearby

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