How much is a home worth in ZIP code 98028?

The typical home in 98028 is worth $1,056,115, based on the Zillow Home Value Index.

Are home values rising in 98028?

Home values in 98028 are down 4.0% over the past year, and up 5.2% a year over five years.

What is the typical rent in 98028?

A typical home in 98028 rents for about $2,326 a month, a gross rental yield of 2.6%.

What is the property tax rate in 98028?

The effective property tax rate in 98028 is 0.8% — roughly $8,543 a year on a typical home.

ZIP code 98028 has a population of 23,741 and a median household income of $139,764.

HousingHandbookReference data

…

U.S. ZIP Code · WA98028

King County · Seattle-Tacoma-Bellevue, WA

Typical home value

$1,056,115^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -4.0%
5-year / yr: +5.2%
10-year / yr: +7.6%

Relative price

vs U.S.: +271.8%
vs metro: +53.9%
vs state: +109.9%

Price history

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

The typical home in 98028 is worth $1,056,115 — 53.9% above the Seattle-Tacoma-Bellevue, WA median. Over the past year, values have fallen 4.0%. Homes here rent for a typical $2,326 a month — a 2.6% gross rental yield. The effective property tax rate is 0.8%.

#Rent & investment

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

Monthly rent: $2,326^[2]
Gross yield: 2.6%^[2]
Cap rate: 1.6%^[2]

#Property tax

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

Effective tax rate: 0.8%^[3]
Typical annual tax: $8,543^[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: 23,741^[3]
Median household income: $139,764^[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: 5
Elementary: 3
Middle: 1
High: 1

Inglemoor HS
High · Grades 9–12 · Northshore School District
1,475 students
Kenmore Middle School
Middle · Grades 6–8 · Northshore School District
734 students
Moorlands Elementary
Elementary · Grades PK–5 · Northshore School District
611 students
Kenmore Elementary
Elementary · Grades PK–5 · Northshore School District
439 students
Arrowhead Elementary
Elementary · Grades PK–5 · Northshore School District
284 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 yield2.6%

Net yield (after ~40% expenses)1.6%

Annual rent$27,916

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$5,340

Loan principal$844,892

Down payment$211,223

Total interest paid$1,077,613

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 ratio2.98

Monthly cost to own$6,933

Monthly rent$2,326

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: 85th percentile^[1]
Rental yield: 15th percentile^[2]
Property tax: 58th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 98028?: The typical home in 98028 is worth $1,056,115, based on the Zillow Home Value Index.
Are home values rising in 98028?: Home values in 98028 are down 4.0% over the past year, and up 5.2% a year over five years.
What is the typical rent in 98028?: A typical home in 98028 rents for about $2,326 a month, a gross rental yield of 2.6%.
What is the property tax rate in 98028?: The effective property tax rate in 98028 is 0.8% — roughly $8,543 a year on a typical home.
Who lives in 98028?: ZIP code 98028 has a population of 23,741 and a median household income of $139,764.

#Comparable ZIPs

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

98007 vs 98028 →
Bellevue, WA
Typical home
$1,052,865
Gross yield
2.7%
98011 vs 98028 →
Bothell, WA
Typical home
$1,065,249
Gross yield
2.6%
98296
Maltby CDP, WA
Typical home
$1,067,941
Gross yield
—
98119
Seattle, WA
Typical home
$1,042,038
Gross yield
2.4%
98014
Lake Marcel-Stillwater CDP, WA
Typical home
$1,039,185
Gross yield
—
98115
Seattle, WA
Typical home
$1,073,855
Gross yield
2.5%

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#Jump to section

U.S. ZIP Code · WA98028

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