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These days, finding an affordable place to live in the Tacoma area can be challenging. Home prices in Tacoma are now at a median cost of $516,587, lower than the Washington average of $621,115.
The average cost of rent is $1,845/mo in Tacoma, primarily driven by the current value of real estate in the Tacoma area. In Tacoma, 41.87% of households rent, and 28.68% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Tacoma is $7,994 per month. Households that rent pay about 23.08% of their income on rent here. Tacoma’s most expensive areas are in the northern regions, while the cheapest areas are in the southern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Fircrest, WA: higher priced homes
- Midland, WA: less expensive homes
- University Place, WA: higher priced homes
- Fife, WA: equally priced homes
- Parkland, WA: less expensive homes
- Lakewood, WA: equally priced homes
- Ruston, WA: higher priced homes
- Clover Creek, WA: higher priced homes
- Milton, WA: equally priced homes
- Steilacoom, WA: higher priced homes
Cities with Similar Populations
- Charleston, SC: less expensive homes
- Chandler, AZ: equally priced homes
- Chula Vista, CA: higher priced homes
- Carlsbad, CA: higher priced homes
- Centreville, VA: higher priced homes
- Chapel Hill, NC: less expensive homes
- Carolina, PR: less expensive homes
- Cheektowaga, NY: less expensive homes
- Cedar Park, TX: equally priced homes
- Cedar Rapids, IA: less expensive homes
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