How much is a home worth in ZIP code 98198?

The typical home in 98198 is worth $601,821, based on the Zillow Home Value Index.

Are home values rising in 98198?

Home values in 98198 are down 1.3% over the past year, and up 3.5% a year over five years.

What is the typical rent in 98198?

A typical home in 98198 rents for about $2,024 a month, a gross rental yield of 4.0%.

What is the property tax rate in 98198?

The effective property tax rate in 98198 is 0.9% — roughly $5,419 a year on a typical home.

ZIP code 98198 has a population of 40,463 and a median household income of $86,239.

HousingHandbookReference data

…

U.S. ZIP Code · WA98198

King County · Seattle-Tacoma-Bellevue, WA

Typical home value

$601,821^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -1.3%
5-year / yr: +3.5%
10-year / yr: +6.9%

Relative price

vs U.S.: +111.9%
vs metro: -12.3%
vs state: +19.6%

Price history

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

The typical home in 98198 is worth $601,821 — 12.3% below the Seattle-Tacoma-Bellevue, WA median. Over the past year, values have fallen 1.3%. Homes here rent for a typical $2,024 a month — a 4.0% 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: $2,024^[2]
Gross yield: 4.0%^[2]
Cap rate: 2.4%^[2]

#Property tax

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

Effective tax rate: 0.9%^[3]
Typical annual tax: $5,419^[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: 40,463^[3]
Median household income: $86,239^[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: 1
High: 4

Mount Rainier High School
High · Grades 9–12 · Highline School District
1,889 students
River Ridge Elementary
Elementary · Grades PK–5 · Kent School District
660 students
Pacific Middle School
Middle · Grades 6–8 · Highline School District
626 students
Midway Elementary
Elementary · Grades PK–5 · Highline School District
564 students
Des Moines Elementary
Elementary · Grades PK–5 · Highline School District
507 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 yield4.0%

Net yield (after ~40% expenses)2.4%

Annual rent$24,288

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$3,043

Loan principal$481,457

Down payment$120,364

Total interest paid$614,072

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 ratio1.97

Monthly cost to own$3,996

Monthly rent$2,024

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: 46th percentile^[1]
Rental yield: 70th percentile^[2]
Property tax: 89th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 98198?: The typical home in 98198 is worth $601,821, based on the Zillow Home Value Index.
Are home values rising in 98198?: Home values in 98198 are down 1.3% over the past year, and up 3.5% a year over five years.
What is the typical rent in 98198?: A typical home in 98198 rents for about $2,024 a month, a gross rental yield of 4.0%.
What is the property tax rate in 98198?: The effective property tax rate in 98198 is 0.9% — roughly $5,419 a year on a typical home.
Who lives in 98198?: ZIP code 98198 has a population of 40,463 and a median household income of $86,239.

#Comparable ZIPs

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

98271 vs 98198 →
Marysville, WA
Typical home
$597,517
Gross yield
4.7%
98338 vs 98198 →
Graham CDP, WA
Typical home
$597,300
Gross yield
5.0%
98328
Clear Lake CDP, WA
Typical home
$595,398
Gross yield
—
98329
Key Center CDP, WA
Typical home
$608,512
Gross yield
—
98101
Seattle, WA
Typical home
$594,404
Gross yield
5.2%
98390
Sumner, WA
Typical home
$610,928
Gross yield
4.2%

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

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Pit ZIP 98198 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · WA98198

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