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Gig Harbor, WA—98332

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$870,000
1.2% YoY Growth
Household Income
$123,000
24.1% YoY Growth
Days on Market
68
2.0% Longer YoY
Home Price Forecast
0.3%
Median Rent
$2,850
5.1% YoY Growth
1-Bed Rent
$1,700
N/A
2-Bed Rent
$2,250
4.0% YoY Growth
3-Bed Rent
$2,900
4.0% YoY Growth

Other Zip Codes in Gig Harbor, WA

9832998335
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Gig Harbor, WA

As of Dec '25, the median home price in Gig Harbor, WA is $870,000, with a year-over-year change of 1.2%. This indicates that home prices in Gig Harbor, WA are increasing. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$870,0001.2%
Single Family $874,0001.0%
Condos $705,0001.6%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $628,000
    1.1%
    2 Bed
    		$692,0001.3%
    3 Bed
    		$804,0001.3%
    4 Bed
    		$1,002,0001.2%
    5 Bed $985,6651.0%
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    % of Housing Stock

    Studio
    0.9%
    1 Bedroom
    4.0%
    2 Bedrooms
    18.0%
    3 Bedrooms
    54.6%
    4 Bedrooms
    17.6%
    5+ Bedrooms
    4.8%

    Rental Trends — Gig Harbor, WA

    As of July '25, Rentcast reports the average rent in Gig Harbor, WA is $3,000, with a year-over-year rent change of -5.1%. Per bedroom, the median rent as of July '25 in Gig Harbor, WA is 1-bedrooms: $1,720, 2-bedrooms: $2,080, 3-bedrooms: $3,090, 4-bedrooms: $4,780. The most common rental property sizes in Gig Harbor, WA are 3-bedroom and 2-bedroom, accounting for 39.4% and 39.3% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,850$3,000
    Studio Rent N/AN/A
    1 Bed Rent $1,700$1,720
    2 Bed Rent $2,250$2,080
    3 Bed Rent $2,900$3,090
    4 Bed Rent $4,500$4,780
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    % of Rental Stock

    Studio
    2.0%
    1 Bedroom
    13.0%
    2 Bedrooms
    39.3%
    3 Bedrooms
    39.4%
    4 Bedrooms
    4.8%
    5+ Bedrooms
    1.6%

    Property Listings — Gig Harbor, WA

    As of Dec '25, Realtor.com reports that the median days on market for a home in Gig Harbor, WA is 54. This is a increase of 2.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 27.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$1,000,000-11.0%
    Listing Count
    		8641.0%
    Listings as % of Homes0.7%41.0%
    Days on Market
    		682.0%
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    Demographics — Gig Harbor, WA

    As of the latest ACS Survey released in 2023, Gig Harbor, WA has a population of 19,800, which has increased by 8.0% over the past 5 years. Gig Harbor, WA is a moderately popular place for families, as children make up 20.2% of the population. The area has a highly educated workforce, with 52.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 20.8% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		19,8008.0%
    % Under 18
    		20.2%1.0%
    % Seniors
    		25.6%11.8%
    % WFH
    		20.8%139.1%
    % w/ College Degree
    		52.4%17.8%
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    As of the latest ACS Survey released in 2023, Gig Harbor, WA is a predominantly white area, with 82.1% of the population identifying as white. The white population has shrunk by 2.1% in the last 5 years. The second most common race or ethnicity in Gig Harbor, WA is hispanic, making up 4.5% of the population. Foreign-born residents account for 6.3% of the population in Gig Harbor, WA, and this percentage has decreased by 24.1% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		82.1%-2.1%
    % Black
    		1.3%-38.1%
    % Hispanic
    		4.5%-15.1%
    % Asian
    		4.4%-2.2%
    % Foreign Born
    		6.3%-24.1%
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    Mortgage and Risk — Gig Harbor, WA

    According to HUD data as of 2023, there were 466 mortgage originations in Gig Harbor, WA, of which 87.0% of loans were conventional mortgages. The average loan-to-value was 48.0%, with 12.0% above 90% LTV (elevated). This implies medium mortgage risk in Gig Harbor, WA. Investor activity is low, as 0.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		466
    % Conventional Loans
    		87.0%
    % Government Loans
    		13.0%
    % Investor Loans
    		0.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		9.0%
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    Rentals and Section 8 — Gig Harbor, WA

    Gig Harbor, WA lacks sufficient Section 8 program data for analysis.

    Section 8 Market Size

    Total Units under HUD
    		1
    Total Units Section 8
    		1
    % Rentals under Section 8
    		N/A
    % Occupied Section 8
    		N/A

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$540$1,700$2,240
    2 Bedroom$510$2,250$2,760
    3 Bedroom$970$2,900$3,870
    4 Bedroom-$80$4,500$4,420

    Affordability — Gig Harbor, WA

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio6.5
    Median Home Price$870,000
    Median Household Income$123,000

    Gig Harbor, WA — ZIP Code Boundary Map

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    Nearby ZIP Codes

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    98359

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    Frequently Asked Questions