How much is a home worth in ZIP code 98405?

The typical home in 98405 is worth $466,085, based on the Zillow Home Value Index.

Are home values rising in 98405?

Home values in 98405 are down 0.4% over the past year, and up 2.3% a year over five years.

What is the typical rent in 98405?

A typical home in 98405 rents for about $1,621 a month, a gross rental yield of 4.2%.

What is the property tax rate in 98405?

The effective property tax rate in 98405 is 0.9% — roughly $4,080 a year on a typical home.

ZIP code 98405 has a population of 25,939 and a median household income of $75,946.

HousingHandbookReference data

…

U.S. ZIP Code · WA98405

Pierce County · Seattle-Tacoma-Bellevue, WA

Typical home value

$466,085^[1]

Zillow Home Value Index, as of April 2026

Appreciation

1-year: -0.4%
5-year / yr: +2.3%
10-year / yr: +8.7%

Relative price

vs U.S.: +64.1%
vs metro: -32.1%
vs state: -7.4%

Price history

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

The typical home in 98405 is worth $466,085 — 32.1% below the Seattle-Tacoma-Bellevue, WA median. Over the past year, values have fallen 0.4%. Homes here rent for a typical $1,621 a month — a 4.2% 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: $1,621^[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: 0.9%^[3]
Typical annual tax: $4,080^[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: 25,939^[3]
Median household income: $75,946^[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: 12
Elementary: 5
Middle: 1
High: 5

Foss High School
High · Grades 9–12 · Tacoma School District
580 students
Bates Technical High School
High · Grades 9–12 · Bates Technical College
533 students
Delong Elementary School
Elementary · Grades PK–5 · Tacoma School District
367 students
Edna Travis Elementary School
Elementary · Grades PK–5 · Tacoma School District
356 students
Stanley Elementary School
Elementary · Grades PK–5 · Tacoma School District
326 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 yield4.2%

Net yield (after ~40% expenses)2.5%

Annual rent$19,454

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$2,357

Loan principal$372,868

Down payment$93,217

Total interest paid$475,573

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 ratio1.90

Monthly cost to own$3,087

Monthly rent$1,621

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: 14th percentile^[1]
Rental yield: 79th percentile^[2]
Property tax: 83rd percentile^[3]

Frequently asked

How much is a home worth in ZIP code 98405?: The typical home in 98405 is worth $466,085, based on the Zillow Home Value Index.
Are home values rising in 98405?: Home values in 98405 are down 0.4% over the past year, and up 2.3% a year over five years.
What is the typical rent in 98405?: A typical home in 98405 rents for about $1,621 a month, a gross rental yield of 4.2%.
What is the property tax rate in 98405?: The effective property tax rate in 98405 is 0.9% — roughly $4,080 a year on a typical home.
Who lives in 98405?: ZIP code 98405 has a population of 25,939 and a median household income of $75,946.

#Comparable ZIPs

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

98396 vs 98405 →
Wilkeson, WA
Typical home
$467,161
Gross yield
—
98288 vs 98405 →
Skykomish, WA
Typical home
$463,981
Gross yield
—
98251
Gold Bar, WA
Typical home
$481,387
Gross yield
—
98444
Parkland CDP, WA
Typical home
$448,711
Gross yield
4.2%
98303
Anderson Island CDP, WA
Typical home
$484,673
Gross yield
—
98404
Tacoma, WA
Typical home
$445,901
Gross yield
5.7%

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

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Pit ZIP 98405 against any other ZIP — full side-by-side table.

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#Jump to section

U.S. ZIP Code · WA98405

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