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Affordable
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These days, finding an affordable place to live in the 98516 area can be challenging. Home prices in 98516 are now at a median cost of $552,653, lower than the Washington average of $621,115.
The average cost of rent is $2,219/mo in 98516, primarily driven by the current value of real estate in the 98516 area. In 98516, 32.58% of households rent, and 36.23% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in 98516 is $8,518 per month. Households that rent pay about 26.05% of their income on rent here. 98516’s most expensive areas are in the northwestern regions, while the cheapest areas are in the southern 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
- 98503, WA: less expensive homes
- 98506, WA: equally priced homes
- 98513, WA: less expensive homes
- 98327, WA: equally priced homes
- 98303, WA: equally priced homes
- 98501, WA: equally priced homes
- 98351, WA: higher priced homes
- 98502, WA: equally priced homes
- 98433, WA: equally priced homes
- 98388, WA: higher priced homes
Zip Codes with Similar Populations
- 02886, RI: less expensive homes
- 06095, CT: less expensive homes
- 76209, TX: less expensive homes
- 00730, PR: less expensive homes
- 42071, KY: less expensive homes
- 44146, OH: less expensive homes
- 50701, IA: less expensive homes
- 58504, ND: less expensive homes
- 60459, IL: less expensive homes
- 61032, IL: less expensive homes
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