Tacoma appreciation rates and housing market information

Tacoma housing market information

With 193,177 people, 81,037 houses or apartments, and a median cost of homes of $266,187, Tacoma real estate prices are well above average cost compared to national prices.

single-family detached homes are the single most common housing type in Tacoma, accounting for 63.83% of the city's housing units. Other types of housing that are prevalent in Tacoma include large apartment complexes or high rise apartments (25.46%), duplexes, homes converted to apartments, or other small apartment buildings (7.92%), and a few row houses and other attached homes (2.33%).

People in Tacoma primarily live in small (one, two, or no bedroom) single-family detached homes. Tacoma has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Tacoma's housing was primarily built during this period, from the '40s through the '60s. A full 34.37% of the city's housing hails from this era. Other housing ages represented in Tacoma include homes built between 1970-1994 (32.29%), and housing constructed from 1939 and earlier (28.17%). There's also some housing in Tacoma built between 1995 and later (5.17%).

Tacoma home appreciation rates

In the last 10 years, Tacoma has experienced some of the highest home appreciation rates of any community in the nation. Tacoma real estate appreciated 112.71% over the last ten years, which is an average annual home appreciation rate of 11.27%, putting Tacoma in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Tacoma definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Tacoma appreciation rates have trailed the rest of the nation. In the last twelve months, Tacoma's appreciation rate has been -5.02%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Tacoma were at -1.79%, which equates to an annual appreciation rate of -7.16%.

Notably, Tacoma's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Washington, our data show that Tacoma's latest annual appreciation rate is higher than 25% of the other cities and towns in Washington.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Tacoma differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Tacoma - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Tacoma real estate investment or home purchase decisions.