HousingHandbookReference data

U.S. ZIP Code · WA98277

Island County

Typical home value

$535,700[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year
+1.8%
5-year / yr
+3.7%
10-year / yr
+6.5%

Relative price

vs U.S.
+88.6%
vs metro
vs state
+6.5%
ZIP 98277 location in WA
Location of ZIP 98277 in WA

Price history

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

The typical home in 98277 is worth $535,700. Over the past year, values have risen 1.8%. Homes here rent for a typical $1,891 a month — a 4.2% 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
$1,891[2]
Gross yield
4.2%[2]
Cap rate
2.5%[2]

#Property tax

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

Effective tax rate
0.7%[3]
Typical annual tax
$3,536[3]

#Climate risk

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

Overall risk
Relatively Low[4]
Riverine flood
Relatively Low
Coastal flood
Relatively Moderate
Wildfire
Very Low
Drought
No Rating
Heat wave
Very Low
Hurricane
Not Applicable
Tornado
Very Low
Earthquake
Relatively Moderate
Winter weather
Relatively Low

#Who lives here

Population
40,917[3]
Median household income
$83,253[3]

#Migration

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

Net migration
+158[5]
Moved in
3,956
Moved out
3,798

Schools

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

Public schools
13
Elementary
5
Middle
2
High
2
  • Oak Harbor High School

    High · Grades 9–12 · Oak Harbor School District

    1,607 students

  • Oak Harbor Intermediate School

    Middle · Grades 5–6 · Oak Harbor School District

    758 students

  • North Whidbey Middle School

    Middle · Grades 7–8 · Oak Harbor School District

    735 students

  • Hillcrest Elementary

    Elementary · Grades K–4 · Oak Harbor School District

    509 students

  • Crescent Harbor Elem

    Elementary · Grades K–4 · Oak Harbor School District

    463 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.

Gross yield4.2%
Net yield (after ~40% expenses)2.5%
Annual rent$22,693

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.

Monthly payment$2,709
Loan principal$428,560
Down payment$107,140
Total interest paid$546,605

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.

Own : rent ratio1.82
Monthly cost to own$3,450
Monthly rent$1,891

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
[1]
Rental yield
[2]
Property tax
[3]

Frequently asked

How much is a home worth in ZIP code 98277?
The typical home in 98277 is worth $535,700, based on the Zillow Home Value Index.
Are home values rising in 98277?
Home values in 98277 are up 1.8% over the past year, and up 3.7% a year over five years.
What is the typical rent in 98277?
A typical home in 98277 rents for about $1,891 a month, a gross rental yield of 4.2%.
What is the property tax rate in 98277?
The effective property tax rate in 98277 is 0.7% — roughly $3,536 a year on a typical home.
Who lives in 98277?
ZIP code 98277 has a population of 40,917 and a median household income of $83,253.

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