How much is a home worth in ZIP code 98002?

The typical home in 98002 is worth $498,602, based on the Zillow Home Value Index.

Are home values rising in 98002?

Home values in 98002 are down 1.5% over the past year, and up 3.2% a year over five years.

What is the typical rent in 98002?

A typical home in 98002 rents for about $1,885 a month, a gross rental yield of 4.5%.

What is the property tax rate in 98002?

The effective property tax rate in 98002 is 0.9% — roughly $4,596 a year on a typical home.

ZIP code 98002 has a population of 37,509 and a median household income of $78,684.

HousingHandbookReference data

…

U.S. ZIP Code · WA98002

King County · Seattle-Tacoma-Bellevue, WA

Typical home value

$498,602^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -1.5%
5-year / yr: +3.2%
10-year / yr: +6.9%

Relative price

vs U.S.: +75.5%
vs metro: -27.3%
vs state: ≈ state median

Price history

Zillow Home Value Index — monthly, smoothed and seasonally adjusted.

The typical home in 98002 is worth $498,602 — 27.3% below the Seattle-Tacoma-Bellevue, WA median. Over the past year, values have fallen 1.5%. Homes here rent for a typical $1,885 a month — a 4.5% gross rental yield. The effective property tax rate is 0.9%.

#Rent & investment

Typical asking rent, and the returns it implies at the current home value.

Monthly rent: $1,885^[2]
Gross yield: 4.5%^[2]
Cap rate: 2.7%^[2]

#Property tax

Effective rate — total real estate taxes paid relative to total home value.

Effective tax rate: 0.9%^[3]
Typical annual tax: $4,596^[3]

#Climate risk

FEMA National Risk Index ratings for King County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Very High^[4]
Riverine flood: Very High
Coastal flood: Relatively Moderate
Wildfire: Relatively Low
Drought: Very Low
Heat wave: Relatively High
Hurricane: Not Applicable
Tornado: Relatively Moderate
Earthquake: Very High
Winter weather: Relatively High

#Who lives here

Population: 37,509^[3]
Median household income: $78,684^[3]

#Migration

Household moves in and out of King County over a year, from IRS tax-return data.

Net migration: -1,324^[5]
Moved in: 67,282
Moved out: 68,606

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 11
Elementary: 6
Middle: 3
High: 1

Auburn Senior High School
High · Grades 9–12 · Auburn School District
1,935 students
Olympic Middle School
Middle · Grades 6–8 · Auburn School District
969 students
Mt Baker Middle School
Middle · Grades 6–8 · Auburn School District
921 students
Cascade Middle School
Middle · Grades 6–8 · Auburn School District
875 students
Dick Scobee Elementary School
Elementary · Grades PK–5 · Auburn School District
648 students

Run the numbers

Interactive calculators pre-filled with this ZIP's typical home value, rent, and property-tax rate. Edit any field to recompute.

Home value$Monthly rent$

Gross yield4.5%

Net yield (after ~40% expenses)2.7%

Annual rent$22,620

Gross and net yield are estimates based on the inputs and the selected expense ratio. Actual income and expenses will vary by property and market. Not investment advice.

Home price$Down payment%Interest rate%Loan termyears

Monthly payment$2,521

Loan principal$398,881

Down payment$99,720

Total interest paid$508,751

Estimated monthly payments include principal and interest only. Actual costs will include property tax, insurance, possibly PMI, and HOA fees not modeled here. Loan terms shown are estimates; consult a licensed lender for current rates and qualification.

Home price$Monthly rent$Down payment%Mortgage rate%Property tax rate% / yrMaintenance% / yrRule of thumb: 1% of home value per year.

Own : rent ratio1.76

Monthly cost to own$3,319

Monthly rent$1,885

Renting is meaningfully cheaper month-to-month.

This calculator projects multi-year scenarios based on assumptions about appreciation, rent growth, and investment returns — none of which are guaranteed. Actual outcomes depend on variables this tool cannot know. Not financial or real estate advice.

#Metro ranking

Where this ZIP sits among others in its metro area.

Appreciation: 35th percentile^[1]
Rental yield: 86th percentile^[2]
Property tax: 93rd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 98002?: The typical home in 98002 is worth $498,602, based on the Zillow Home Value Index.
Are home values rising in 98002?: Home values in 98002 are down 1.5% over the past year, and up 3.2% a year over five years.
What is the typical rent in 98002?: A typical home in 98002 rents for about $1,885 a month, a gross rental yield of 4.5%.
What is the property tax rate in 98002?: The effective property tax rate in 98002 is 0.9% — roughly $4,596 a year on a typical home.
Who lives in 98002?: ZIP code 98002 has a population of 37,509 and a median household income of $78,684.

#Comparable ZIPs

Same metro, nearest typical home value. Each card shows the comparable ZIP's headline numbers so you can scan at a glance.

98224 vs 98002 →
Baring CDP, WA
Typical home
$498,001
Gross yield
—
98445 vs 98002 →
Parkland CDP, WA
Typical home
$499,377
Gross yield
4.7%
98385
South Prairie, WA
Typical home
$497,789
Gross yield
—
98499
Lakewood, WA
Typical home
$486,630
Gross yield
4.1%
98303
Anderson Island CDP, WA
Typical home
$484,673
Gross yield
—
98387
Spanaway CDP, WA
Typical home
$513,736
Gross yield
6.6%

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Pit ZIP 98002 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · WA98002

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