How much is a home worth in ZIP code 98118?

The typical home in 98118 is worth $751,509, based on the Zillow Home Value Index.

Are home values rising in 98118?

Home values in 98118 are down 2.7% over the past year, and up 1.8% a year over five years.

What is the typical rent in 98118?

A typical home in 98118 rents for about $1,786 a month, a gross rental yield of 2.9%.

What is the property tax rate in 98118?

The effective property tax rate in 98118 is 0.7% — roughly $5,421 a year on a typical home.

ZIP code 98118 has a population of 50,500 and a median household income of $113,762.

HousingHandbookReference data

…

U.S. ZIP Code · WA98118

King County · Seattle-Tacoma-Bellevue, WA

Typical home value

$751,509^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -2.7%
5-year / yr: +1.8%
10-year / yr: +5.5%

Relative price

vs U.S.: +164.6%
vs metro: +9.5%
vs state: +49.3%

Price history

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

The typical home in 98118 is worth $751,509 — 9.5% above the Seattle-Tacoma-Bellevue, WA median. Over the past year, values have fallen 2.7%. Homes here rent for a typical $1,786 a month — a 2.9% gross rental yield. The effective property tax rate is 0.7%.

#Rent & investment

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

Monthly rent: $1,786^[2]
Gross yield: 2.9%^[2]
Cap rate: 1.7%^[2]

#Property tax

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

Effective tax rate: 0.7%^[3]
Typical annual tax: $5,421^[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: 50,500^[3]
Median household income: $113,762^[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: 13
Elementary: 8
Middle: 1
High: 4

Aki Kurose Middle School
Middle · Grades 6–8 · Seattle School District No. 1
783 students
Rainier Beach High School
High · Grades 9–12 · Seattle School District No. 1
765 students
South Shore PK-8 School
Elementary · Grades PK–8 · Seattle School District No. 1
570 students
Hawthorne Elementary School
Elementary · Grades PK–5 · Seattle School District No. 1
374 students
Orca K-8 School
Elementary · Grades K–8 · Seattle School District No. 1
355 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 yield2.9%

Net yield (after ~40% expenses)1.7%

Annual rent$21,435

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$3,800

Loan principal$601,208

Down payment$150,302

Total interest paid$766,807

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 ratio2.73

Monthly cost to own$4,877

Monthly rent$1,786

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: 10th percentile^[1]
Rental yield: 23rd percentile^[2]
Property tax: 26th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 98118?: The typical home in 98118 is worth $751,509, based on the Zillow Home Value Index.
Are home values rising in 98118?: Home values in 98118 are down 2.7% over the past year, and up 1.8% a year over five years.
What is the typical rent in 98118?: A typical home in 98118 rents for about $1,786 a month, a gross rental yield of 2.9%.
What is the property tax rate in 98118?: The effective property tax rate in 98118 is 0.7% — roughly $5,421 a year on a typical home.
Who lives in 98118?: ZIP code 98118 has a population of 50,500 and a median household income of $113,762.

#Comparable ZIPs

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

98087 vs 98118 →
North Lynnwood CDP, WA
Typical home
$751,944
Gross yield
3.5%
98102 vs 98118 →
Seattle, WA
Typical home
$745,904
Gross yield
3.2%
98058
Fairwood CDP, WA
Typical home
$744,308
Gross yield
3.6%
98394
Key Center CDP, WA
Typical home
$738,367
Gross yield
—
98109
Seattle, WA
Typical home
$764,730
Gross yield
3.9%
98272
Woods Creek CDP, WA
Typical home
$736,154
Gross yield
3.7%

Want similar ZIPs from outside this metro? Browse nationally similar ZIPs →

Compare ZIPs

Pit ZIP 98118 against any other ZIP — full side-by-side table.

Compare 98118 →

#Jump to section

U.S. ZIP Code · WA98118

Get more data on ZIPs like this

Get more data on ZIPs like this