How much is a home worth in ZIP code 98221?

The typical home in 98221 is worth $726,922, based on the Zillow Home Value Index.

Are home values rising in 98221?

Home values in 98221 are up 0.6% over the past year, and up 3.9% a year over five years.

What is the typical rent in 98221?

A typical home in 98221 rents for about $2,591 a month, a gross rental yield of 4.3%.

What is the property tax rate in 98221?

The effective property tax rate in 98221 is 0.7% — roughly $4,829 a year on a typical home.

ZIP code 98221 has a population of 23,562 and a median household income of $96,528.

HousingHandbookReference data

…

U.S. ZIP Code · WA98221

Skagit County · Mount Vernon-Anacortes, WA

Typical home value

$726,922^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: +0.6%
5-year / yr: +3.9%
10-year / yr: +6.9%

Relative price

vs U.S.: +155.9%
vs metro: +33.6%
vs state: +44.5%

Price history

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

The typical home in 98221 is worth $726,922 — 33.6% above the Mount Vernon-Anacortes, WA median. Over the past year, values have risen 0.6%. Homes here rent for a typical $2,591 a month — a 4.3% 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: $2,591^[2]
Gross yield: 4.3%^[2]
Cap rate: 2.6%^[2]

#Property tax

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

Effective tax rate: 0.7%^[3]
Typical annual tax: $4,829^[3]

#Climate risk

FEMA National Risk Index ratings for Skagit County. "Not Applicable" means the hazard does not threaten the county.

Overall risk: Relatively Moderate^[4]
Riverine flood: Relatively Moderate
Coastal flood: Relatively High
Wildfire: Very Low
Drought: Very Low
Heat wave: Relatively Low
Hurricane: Not Applicable
Tornado: Very Low
Earthquake: Relatively Moderate
Winter weather: Relatively Moderate

#Who lives here

Population: 23,562^[3]
Median household income: $96,528^[3]

#Migration

Household moves in and out of Skagit County over a year, from IRS tax-return data.

Net migration: +236^[5]
Moved in: 3,772
Moved out: 3,536

Schools

Open public schools in this ZIP, from the NCES Common Core of Data.

Public schools: 10
Elementary: 4
Middle: 1
High: 4

Anacortes High School
High · Grades 9–12 · Anacortes School District
746 students
Anacortes Middle School
Middle · Grades 6–8 · Anacortes School District
609 students
Island View Elementary
Elementary · Grades K–5 · Anacortes School District
463 students
Fidalgo Elementary
Elementary · Grades K–5 · Anacortes School District
362 students
Mount Erie Elementary
Elementary · Grades K–5 · Anacortes School District
353 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 yield4.3%

Net yield (after ~40% expenses)2.6%

Annual rent$31,091

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$3,676

Loan principal$581,538

Down payment$145,384

Total interest paid$741,719

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 ratio1.81

Monthly cost to own$4,681

Monthly rent$2,591

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: 25th percentile^[2]
Property tax: 13th percentile^[3]

Frequently asked

How much is a home worth in ZIP code 98221?: The typical home in 98221 is worth $726,922, based on the Zillow Home Value Index.
Are home values rising in 98221?: Home values in 98221 are up 0.6% over the past year, and up 3.9% a year over five years.
What is the typical rent in 98221?: A typical home in 98221 rents for about $2,591 a month, a gross rental yield of 4.3%.
What is the property tax rate in 98221?: The effective property tax rate in 98221 is 0.7% — roughly $4,829 a year on a typical home.
Who lives in 98221?: ZIP code 98221 has a population of 23,562 and a median household income of $96,528.

#Comparable ZIPs

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

98274 vs 98221 →
Big Lake CDP, WA
Typical home
$626,334
Gross yield
4.8%
98232 vs 98221 →
Edison CDP, WA
Typical home
$862,687
Gross yield
—
98273
Mount Vernon, WA
Typical home
$569,706
Gross yield
3.8%
98233
Burlington, WA
Typical home
$544,086
Gross yield
4.7%
98284
Sedro-Woolley, WA
Typical home
$527,988
Gross yield
4.6%
98257
La Conner, WA
Typical home
$459,423
Gross yield
—

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Pit ZIP 98221 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · WA98221

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