How much is a home worth in ZIP code 98112?

The typical home in 98112 is worth $1,393,687, based on the Zillow Home Value Index.

Are home values rising in 98112?

Home values in 98112 are down 1.8% over the past year, and up 1.6% a year over five years.

What is the typical rent in 98112?

A typical home in 98112 rents for about $2,256 a month, a gross rental yield of 1.9%.

What is the property tax rate in 98112?

The effective property tax rate in 98112 is 0.8% — roughly $10,467 a year on a typical home.

ZIP code 98112 has a population of 23,921 and a median household income of $171,572.

HousingHandbookReference data

…

U.S. ZIP Code · WA98112

King County · Seattle-Tacoma-Bellevue, WA

Typical home value

$1,393,687^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -1.8%
5-year / yr: +1.6%
10-year / yr: +3.8%

Relative price

vs U.S.: +390.6%
vs metro: +103.1%
vs state: +177.0%

Price history

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

The typical home in 98112 is worth $1,393,687 — 103.1% above the Seattle-Tacoma-Bellevue, WA median. Over the past year, values have fallen 1.8%. Homes here rent for a typical $2,256 a month — a 1.9% 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: $2,256^[2]
Gross yield: 1.9%^[2]
Cap rate: 1.2%^[2]

#Property tax

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

Effective tax rate: 0.8%^[3]
Typical annual tax: $10,467^[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: 23,921^[3]
Median household income: $171,572^[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: 4
Elementary: 3
Middle: 1
High: 0

Edmonds S. Meany Middle School
Middle · Grades 6–8 · Seattle School District No. 1
477 students
McGilvra Elementary School
Elementary · Grades K–5 · Seattle School District No. 1
215 students
Montlake Elementary School
Elementary · Grades K–5 · Seattle School District No. 1
167 students
Stevens Elementary School
Elementary · Grades K–5 · Seattle School District No. 1
151 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 yield1.9%

Net yield (after ~40% expenses)1.2%

Annual rent$27,073

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$7,047

Loan principal$1,114,950

Down payment$278,737

Total interest paid$1,422,057

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 ratio4.02

Monthly cost to own$9,080

Monthly rent$2,256

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: 8th percentile^[1]
Rental yield: 3rd percentile^[2]
Property tax: 41st percentile^[3]

Frequently asked

How much is a home worth in ZIP code 98112?: The typical home in 98112 is worth $1,393,687, based on the Zillow Home Value Index.
Are home values rising in 98112?: Home values in 98112 are down 1.8% over the past year, and up 1.6% a year over five years.
What is the typical rent in 98112?: A typical home in 98112 rents for about $2,256 a month, a gross rental yield of 1.9%.
What is the property tax rate in 98112?: The effective property tax rate in 98112 is 0.8% — roughly $10,467 a year on a typical home.
Who lives in 98112?: ZIP code 98112 has a population of 23,921 and a median household income of $171,572.

#Comparable ZIPs

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

98052 vs 98112 →
Redmond, WA
Typical home
$1,371,366
Gross yield
2.2%
98008 vs 98112 →
Bellevue, WA
Typical home
$1,443,704
Gross yield
3.2%
98050
WA
Typical home
$1,452,344
Gross yield
—
98072
Cottage Lake CDP, WA
Typical home
$1,330,327
Gross yield
2.1%
98053
Union Hill-Novelty Hill CDP, WA
Typical home
$1,477,571
Gross yield
2.0%
98024
Fall City CDP, WA
Typical home
$1,279,318
Gross yield
—

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#Jump to section

U.S. ZIP Code · WA98112

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