The story of this market
The typical home in ZIP 98402 sells for about $365,000, or $352 per square foot.
Prices are roughly flat from a year ago (+1%), a market in balance. Homes take about 127 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $1,760 a month.
ZIP 98402 — Tacoma
The 98402 housing market is currently a strong buyer's market, characterized by high inventory and extended days on market. While prices have seen a modest year-over-year increase, affordability remains a significant challenge for local buyers, leading to a trend of price negotiations below list price.
This ZIP is ideal for urban professionals, commuters, and renters who prioritize walkability and proximity to downtown Tacoma's cultural and employment amenities over suburban space.
Median prices moved up 1.0% year over year.
Homes spend a median of 127 days on market with 6.2 months of supply — a slower-moving market.
15% of listings have cut prices · homes sell at 92% of asking — demand is holding steady.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.8% · poverty 14.0% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.1%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 98402, Pierce County WA
Crime trends in the downtown Tacoma area are monitored by the Tacoma Police Department, with property crime rates generally higher than the national average due to the urban density of the central business district.
Schools serving the 98402 area are part of the Tacoma Public Schools district, which offers a mix of magnet and neighborhood schools with varying performance ratings.
The area is subject to standard Pacific Northwest seismic risks and localized urban flood risks, with insurance premiums influenced by proximity to the Puget Sound waterfront.
Development momentum is driven by the revitalization of the Tacoma waterfront and downtown core, featuring mixed-use projects and proximity to major regional employers in the healthcare and logistics sectors.
Property taxes are assessed by Pierce County based on local millage rates that include city, county, and school district levies; no state income tax applies to residential property owners.
Residents benefit from proximity to the Tacoma Link light rail and major highway corridors like I-5, providing access to employment hubs in Tacoma and the broader Seattle-Tacoma metro area.
The ZIP features significant access to the Thea Foss Waterway, Museum of Glass, and various downtown parks, with extensive shopping and dining options within walking distance.
The rental market is characterized by high demand for urban living, with a mix of historic apartments and new luxury developments; vacancy rates remain tight due to the area's central location.
The economy is anchored by healthcare, education, and government services, with significant employment provided by the Port of Tacoma and nearby military installations.
The area is served by Pierce Transit and the Tacoma Link light rail, with easy access to I-5 for regional commuting.
Ongoing urban infill projects are focused on increasing residential density in the downtown core.
The Pierce County Assessor-Treasurer manages property valuations and tax collections, utilizing annual market-based adjustments.
Parcels are subject to Tacoma School District, Pierce County, and City of Tacoma municipal levies.
Property insurance premiums are moderate but sensitive to regional wildfire and seismic risk assessments.
Washington state continues to see net positive domestic migration, though growth has moderated in recent years.
Washington is a non-judicial foreclosure state, providing a structured process for lenders and borrowers.
Sellers are required to provide a comprehensive disclosure statement regarding the condition of the property.
Data retrieved from data.census.gov ZCTA 98402 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Wild Waves Theme and Water Park3.96.2 mi
- Sky Zone Trampoline Park4.116.4 mi
- Tukwila Family Fun Center & Bullwinkle's Restaurant4.317.4 mi
- Round1 Bowling & Arcade416.7 mi
- Round1 Bowling & Arcade - Puyallup3.89.4 mi
- Washington State Fair Event Center4.38.4 mi
- Tacoma Dome4.11.3 mi
- Wild Waves Theme and Water Park3.96.2 mi
- White River Amphitheatre4.115.5 mi
- accesso ShoWare Center4.513.2 mi
- Washington State Fair Event Center4.38.4 mi
- Point Defiance Zoo & Aquarium4.55.2 mi
- Chambers Bay Golf Course4.77.1 mi
- Point Defiance Park4.75.4 mi
- Dash Point State Park4.54.5 mi
- The Museum of Flight4.819.6 mi
- Museum of Glass4.50.6 mi
- LeMay - America’s Car Museum4.71.3 mi
- Children's Museum of Tacoma4.60.3 mi
- Tacoma Art Museum4.60.4 mi
- Chambers Bay Golf Course4.77.1 mi
- Point Defiance Park4.75.4 mi
- Dash Point State Park4.54.5 mi
- Sprinker Recreation Center4.59 mi
- Point Ruston4.74.3 mi
- Tacoma Yacht Club4.75 mi
- Point Defiance Marina4.75.1 mi
- Foss Harbor Marina4.60.4 mi
- Tyee Marina4.13.2 mi
- Narrows Marina4.55.4 mi
- Chambers Bay Golf Course4.77.1 mi
- Meadow Park Golf Course4.55.2 mi
- Riverbend Golf Complex4.212.2 mi
- Auburn Golf Course4.412.4 mi
- Allenmore Golf Course4.31.8 mi
- Tacoma Mall4.12.8 mi
- The Outlet Collection Seattle4.29.8 mi
- South Hill Mall4.19.5 mi
- WinCo Foods4.34.1 mi
- Metropolitan Market Tacoma4.62.5 mi
- Seattle-Tacoma International Airport (SEA) Parking Garage3.414.7 mi
- King County International Airport - Boeing Field4.520.7 mi
- Kenmore Air - Lake Union4.626.4 mi
- The Club SEA2.714.4 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
A world-renowned glass art museum located on the Thea Foss Waterway.
Features a significant collection of Pacific Northwest art.
A central hub for recreation, dining, and marina activities.
Key-figure check: median price diverges 36.9% from the nearest retained anchor (prior refresh cycle) — beyond the 12.5% tolerance; an automated validation case is open and the value publishes pending its verdict. Validation: the flagged $499,728 (+36.9% vs the prior refresh cycle) could not be independently corroborated and was reverted to the prior cycle value pending review; the case is under review in the Command Center.