Steilacoom, WA—98388
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Steilacoom, WA
As of Oct '25, the median home price in Steilacoom, WA is $630,000, with a year-over-year change of -0.3%. This indicates that home prices in Steilacoom, WA are flat. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $630,000 | -0.3% |
| Single Family | $649,000 | -0.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $453,000 | -1.5% |
3 Bed | $602,000 | -1.1% |
4 Bed | $795,000 | 0.4% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Steilacoom, WA
As of July '25, Rentcast reports the average rent in Steilacoom, WA is $2,390, with a year-over-year rent change of -13.1%. Per bedroom, the median rent as of July '25 in Steilacoom, WA is 1-bedrooms: $1,380, 2-bedrooms: $2,120, 3-bedrooms: $2,260, 4-bedrooms: $3,280. The most common rental property sizes in Steilacoom, WA are 2-bedroom and 3-bedroom, accounting for 44.3% and 25.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,350 | $2,390 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,250 | $1,380 |
| 2 Bed Rent | $1,950 | $2,120 |
| 3 Bed Rent | $2,300 | $2,260 |
| 4 Bed Rent | $3,000 | $3,280 |
% of Rental Stock
Property Listings — Steilacoom, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Steilacoom, WA is 64. This is a decrease of -17.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $843,000 | 29.0% |
Listing Count | 27 | 21.0% |
| Listings as % of Homes | 0.6% | 21.0% |
Days on Market | 64 | -17.0% |
Demographics — Steilacoom, WA
As of the latest ACS Survey released in 2023, Steilacoom, WA has a population of 7,050, which has increased by 6.3% over the past 5 years. Steilacoom, WA is a moderately popular place for families, as children make up 19.1% of the population. The area has a highly educated workforce, with 45.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,050 | 6.3% |
% Under 18 | 19.1% | -1.5% |
% Seniors | 18.8% | -1.1% |
% WFH | 21.7% | 108.7% |
% w/ College Degree | 45.3% | 11.3% |
As of the latest ACS Survey released in 2023, Steilacoom, WA is a predominantly white area, with 67.6% of the population identifying as white. The white population has shrunk by 0.7% in the last 5 years. The second most common race or ethnicity in Steilacoom, WA is hispanic, making up 11.5% of the population. Foreign-born residents account for 7.9% of the population in Steilacoom, WA, and this percentage has decreased by 28.2% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 67.6% | -0.7% |
% Black | 4.9% | -23.4% |
% Hispanic | 11.5% | 12.7% |
% Asian | 5.4% | -30.8% |
% Foreign Born | 7.9% | -28.2% |
Mortgage and Risk — Steilacoom, WA
According to HUD data as of 2023, there were 128 mortgage originations in Steilacoom, WA, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 20.0% above 90% LTV (very high). This implies large mortgage risk in Steilacoom, WA. Investor activity is low, as 2.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 128 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Steilacoom, WA
As of 2024, the percent of homes in Steilacoom, WA under the Section 8 program is 2.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Steilacoom, WA, because HUD payments exceed market rent, while 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 25 |
Total Units Section 8 | 25 |
% Rentals under Section 8 | 2.5% |
% Occupied Section 8 | 84.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $300 | $1,250 | $1,550 |
| 2 Bedroom | -$40 | $1,950 | $1,910 |
| 3 Bedroom | $380 | $2,300 | $2,680 |
| 4 Bedroom | $60 | $3,000 | $3,060 |
Affordability — Steilacoom, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.1 |
| Median Home Price | $630,000 |
| Median Household Income | $97,600 |