How much is a home worth in ZIP code 98148?

The typical home in 98148 is worth $615,646, based on the Zillow Home Value Index.

Are home values rising in 98148?

Home values in 98148 are down 1.8% over the past year, and up 2.9% a year over five years.

What is the typical rent in 98148?

A typical home in 98148 rents for about $1,865 a month, a gross rental yield of 3.6%.

What is the property tax rate in 98148?

The effective property tax rate in 98148 is 0.8% — roughly $5,054 a year on a typical home.

ZIP code 98148 has a population of 9,715 and a median household income of $87,342.

HousingHandbookReference data

…

U.S. ZIP Code · WA98148

King County · Seattle-Tacoma-Bellevue, WA

Typical home value

$615,646^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -1.8%
5-year / yr: +2.9%
10-year / yr: +6.8%

Relative price

vs U.S.: +116.7%
vs metro: -10.3%
vs state: +22.3%

Price history

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

The typical home in 98148 is worth $615,646 — 10.3% below the Seattle-Tacoma-Bellevue, WA median. Over the past year, values have fallen 1.8%. Homes here rent for a typical $1,865 a month — a 3.6% 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: $1,865^[2]
Gross yield: 3.6%^[2]
Cap rate: 2.2%^[2]

#Property tax

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

Effective tax rate: 0.8%^[3]
Typical annual tax: $5,054^[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: 9,715^[3]
Median household income: $87,342^[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: 8
Elementary: 1
Middle: 0
High: 5

Highline High School
High · Grades 9–12 · Highline School District
1,408 students
North Hill Elementary
Elementary · Grades PK–5 · Highline School District
514 students
Big Picture School
High · Grades 6–12 · Highline School District
238 students
CHOICE Academy
High · Grades 6–12 · Highline School District
178 students
Highline Home School Center
Other · Grades K–12 · Highline School District
10 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 yield3.6%

Net yield (after ~40% expenses)2.2%

Annual rent$22,380

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$3,113

Loan principal$492,517

Down payment$123,129

Total interest paid$628,178

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 ratio2.17

Monthly cost to own$4,047

Monthly rent$1,865

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: 25th percentile^[1]
Rental yield: 51st percentile^[2]
Property tax: 62nd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 98148?: The typical home in 98148 is worth $615,646, based on the Zillow Home Value Index.
Are home values rising in 98148?: Home values in 98148 are down 1.8% over the past year, and up 2.9% a year over five years.
What is the typical rent in 98148?: A typical home in 98148 rents for about $1,865 a month, a gross rental yield of 3.6%.
What is the property tax rate in 98148?: The effective property tax rate in 98148 is 0.8% — roughly $5,054 a year on a typical home.
Who lives in 98148?: ZIP code 98148 has a population of 9,715 and a median household income of $87,342.

#Comparable ZIPs

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

98406 vs 98148 →
Tacoma, WA
Typical home
$620,149
Gross yield
3.5%
98390 vs 98148 →
Sumner, WA
Typical home
$610,928
Gross yield
4.2%
98329
Key Center CDP, WA
Typical home
$608,512
Gross yield
—
98023
Federal Way, WA
Typical home
$622,819
Gross yield
3.8%
98351
Longbranch CDP, WA
Typical home
$623,183
Gross yield
—
98198
Des Moines, WA
Typical home
$601,821
Gross yield
4.0%

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Pit ZIP 98148 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · WA98148

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