How much is a home worth in ZIP code 98391?

The typical home in 98391 is worth $686,166, based on the Zillow Home Value Index.

Are home values rising in 98391?

Home values in 98391 are down 0.9% over the past year, and up 3.6% a year over five years.

What is the typical rent in 98391?

A typical home in 98391 rents for about $2,883 a month, a gross rental yield of 5.0%.

What is the property tax rate in 98391?

The effective property tax rate in 98391 is 0.9% — roughly $5,920 a year on a typical home.

ZIP code 98391 has a population of 59,240 and a median household income of $135,037.

HousingHandbookReference data

…

U.S. ZIP Code · WA98391

Pierce County · Seattle-Tacoma-Bellevue, WA

Typical home value

$686,166^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -0.9%
5-year / yr: +3.6%
10-year / yr: +7.2%

Relative price

vs U.S.: +141.6%
vs metro: ≈ metro median
vs state: +36.4%

Price history

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

The typical home in 98391 is worth $686,166. Over the past year, values have fallen 0.9%. Homes here rent for a typical $2,883 a month — a 5.0% 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: $2,883^[2]
Gross yield: 5.0%^[2]
Cap rate: 3.0%^[2]

#Property tax

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

Effective tax rate: 0.9%^[3]
Typical annual tax: $5,920^[3]

#Climate risk

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

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

#Who lives here

Population: 59,240^[3]
Median household income: $135,037^[3]

#Migration

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

Net migration: +1,117^[5]
Moved in: 28,662
Moved out: 27,545

Schools

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

Public schools: 8
Elementary: 5
Middle: 2
High: 1

Bonney Lake High School
High · Grades 9–12 · Sumner-Bonney Lake School District
1,676 students
Donald Eismann Elementary
Elementary · Grades PK–5 · Sumner-Bonney Lake School District
744 students
Lakeridge Middle School
Middle · Grades 6–8 · Sumner-Bonney Lake School District
736 students
Victor Falls Elementary
Elementary · Grades PK–5 · Sumner-Bonney Lake School District
515 students
North Tapps Middle School
Middle · Grades 6–8 · Dieringer School District
509 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 yield5.0%

Net yield (after ~40% expenses)3.0%

Annual rent$34,598

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$3,470

Loan principal$548,933

Down payment$137,233

Total interest paid$700,133

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 ratio1.57

Monthly cost to own$4,533

Monthly rent$2,883

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: 50th percentile^[1]
Rental yield: 93rd percentile^[2]
Property tax: 78th percentile^[3]

Rankings

Top-10 lists this ZIP code appears on.

6th for most populous in WAView list →

Frequently asked

How much is a home worth in ZIP code 98391?: The typical home in 98391 is worth $686,166, based on the Zillow Home Value Index.
Are home values rising in 98391?: Home values in 98391 are down 0.9% over the past year, and up 3.6% a year over five years.
What is the typical rent in 98391?: A typical home in 98391 rents for about $2,883 a month, a gross rental yield of 5.0%.
What is the property tax rate in 98391?: The effective property tax rate in 98391 is 0.9% — roughly $5,920 a year on a typical home.
Who lives in 98391?: ZIP code 98391 has a population of 59,240 and a median household income of $135,037.

#Comparable ZIPs

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

98467 vs 98391 →
University Place, WA
Typical home
$685,961
Gross yield
3.2%
98022 vs 98391 →
Enumclaw, WA
Typical home
$684,861
Gross yield
3.9%
98422
Tacoma, WA
Typical home
$683,201
Gross yield
3.9%
98092
Auburn, WA
Typical home
$682,285
Gross yield
3.5%
98031
Kent, WA
Typical home
$680,519
Gross yield
3.7%
98106
Seattle, WA
Typical home
$676,373
Gross yield
4.1%

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

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Pit ZIP 98391 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · WA98391

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