Tacoma WA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Tacoma, WA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Tacoma Housing Market Information

With 216,279 people, 82,540 houses or apartments, and a median cost of homes of $324,464, 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 61.72% of the city's housing units. Other types of housing that are prevalent in Tacoma include large apartment complexes or high rise apartments ( 26.94%), duplexes, homes converted to apartments or other small apartment buildings ( 8.06%), and a few row houses and other attached homes ( 2.89%).

The most prevalent building size and type in Tacoma are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 49.24% owning and 50.76% renting.

There is a lot of housing in Tacoma built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Tacoma built between 1940-1969 ( 28.18%). A lesser amount of the housing stock also hails from before 1939 ( 26.24%). There's also some housing in Tacoma built between 2000 and later ( 11.86%).

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 61.38% over the last ten years, which is an average annual home appreciation rate of 4.90%, 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.

Appreciation rates are so strong in Tacoma that despite a nationwide downturn in the housing market, Tacoma real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Tacoma appreciation rates continue to be some of the highest in America, at 7.91%, which is higher than appreciation rates in 84.27% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Tacoma. Tacoma appreciation rates in the latest quarter were at 0.79%, which equates to an annual appreciation rate of 3.18%.

Relative to Washington, our data show that Tacoma's latest annual appreciation rate is higher than 60% 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 2000, to assist you in making the best Tacoma real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$324,464

Tacoma, WA HOME PRICES

Value Range
> $1,399,000 1.0
$1,049,001 - $1,399,000 1.4
$700,001 - $1,049,000 5.4
$559,001 - $700,000 7.2
$420,001 - $559,000 16.8
$280,001 - $420,000 32.2
$140,001 - $280,000 31.2
$70,001 - $140,000 3.1
$0 - $70,000 1.6

Average for WA
Very High for Nation

Value Relative to Nation Value Relative to State
18.3007299270073 50.5300353356891

Number Of Homes And Apartments:
82,540

Tacoma Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2019 Q4 - 2020 Q1
Last 12 Months:
2019 Q1 - 2020 Q1
Last 2 Years:
2018 Q1 - 2020 Q1
Last 5 Years:
2015 Q1 - 2020 Q1
Last 10 Years:
2010 Q1 - 2020 Q1
Since 2000:
2000 Q1 - 2020 Q1
142.11% 4.46%
9
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,881 / per month

Homeownership Rate

Homeownership
Owners 49.24
Renters 50.76
Vacant 7.95

Housing Market Details

 

Age of Homes

AGE OF Tacoma HOMES
2000 or Newer 11.9
1970 - 1999 33.7
1940 - 1969 28.2
1939 or Older 26.2

Types of Homes

TYPE OF Tacoma HOMES
Single-Family 61.7
Townhomes 2.9
Small Apt. Buildings 8.1
Apt. Complexes 26.9
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Tacoma HOMES
No Bedroom 4.29
1 Bedroom 15.21
2 Bedrooms 28.35
3 Bedrooms 33.85
4 Bedrooms 14.52
5 or more bedrooms 3.78