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These days, finding an affordable place to live in the 98116 area can be challenging. Home prices in 98116 are now at a median cost of $945,887, higher than the Washington average of $621,115.
The average cost of rent is $2,133/mo in 98116, primarily driven by the current value of real estate in the 98116 area. In 98116, 49.86% of households rent, and 31.33% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 98116 is $11,442 per month. Households that rent pay about 18.64% of their income on rent here. 98116’s most expensive areas are in the southwestern regions, while the cheapest areas are in the southeastern parts of the zip.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Zip Codes
- 98126, WA: less expensive homes
- 98136, WA: equally priced homes
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- 98164, WA: less expensive homes
- 98121, WA: equally priced homes
- 98104, WA: less expensive homes
- 98101, WA: equally priced homes
- 98144, WA: equally priced homes
- 98108, WA: less expensive homes
Zip Codes with Similar Populations
- 91741, CA: equally priced homes
- 34689, FL: less expensive homes
- 34747, FL: less expensive homes
- 34769, FL: less expensive homes
- 36067, AL: less expensive homes
- 44515, OH: less expensive homes
- 78332, TX: less expensive homes
- 80209, CO: equally priced homes
- 82601, WY: less expensive homes
- 02478, MA: higher priced homes
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