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Tacoma, WA Real Estate Market

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 Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Tacoma, WA Housing Market Trends

With a population of 219,346, 86,563 total housing units (homes and apartments), and a median house value of $453,234, 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 61.83% of the city's housing units. Other types of housing that are prevalent in Tacoma include large apartment complexes or high rise apartments ( 27.23%), duplexes, homes converted to apartments or other small apartment buildings ( 7.64%), and a few row houses and other attached homes ( 2.79%).

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 51.96% owning and 48.04% 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 ( 27.34%). A lesser amount of the housing stock also hails from before 1939 ( 25.57%). There's also some housing in Tacoma built between 2000 and later ( 13.75%).

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 183.63% over the last ten years, which is an average annual home appreciation rate of 10.99%, 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.

NeighborhoodScout's data show that during the latest twelve months, Tacoma's appreciation rate, at 16.06%, has been at or slightly above the national average. In the latest quarter, Tacoma's appreciation rate has been 4.42%, which annualizes to a rate of 18.91%.

Importantly, this makes Tacoma one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Washington, our data show that Tacoma's latest annual appreciation rate is lower than 50% 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:
$453,234

Tacoma, WA HOME PRICES

> $1,604,000
$1,203,001 - $1,604,000
$802,001 - $1,203,000
$642,001 - $802,000
$481,001 - $642,000
$320,001 - $481,000
$160,001 - $320,000
$80,001 - $160,000
$0 - $80,000
1.2%
1.2%
2.4%
2.4%
9.1%
9.1%
11.3%
11.3%
26.2%
26.2%
32.5%
32.5%
14.8%
14.8%
1.2%
1.2%
1.3%
1.3%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Average for WA

Value Relative To Nation

Number Of Homes And Apartments:
86,563

Tacoma Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
WA*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
247.96% 5.70%
10
10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,320 / per month

Homeownership Rate

Owners
Renters
Vacant
52.0%
52.0%
48.0%
48.0%
5.7%
5.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
13.8%
13.8%
33.3%
33.3%
27.3%
27.3%
25.6%
25.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
61.8%
61.8%
2.8%
2.8%
7.6%
7.6%
27.2%
27.2%
0.5%
0.5%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
4.9%
4.9%
15.6%
15.6%
27.1%
27.1%
34.2%
34.2%
14.7%
14.7%
3.5%
3.5%
0.0% 100.0%
% OF HOMES