View in Interactive Map

University Place, WA—98466

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$614,000
1.6% YoY Growth
Household Income
$94,600
48.2% YoY Growth
Days on Market
72
12.0% Longer YoY
Home Price Forecast
0.1%
Median Rent
$1,800
8.8% YoY Growth
1-Bed Rent
$1,550
1.3% YoY Growth
2-Bed Rent
$1,900
6.8% YoY Growth
3-Bed Rent
$2,600
1.2% YoY Growth

Other Zip Codes in University Place, WA

98467
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — University Place, WA

As of Dec '25, the median home price in University Place, WA is $614,000, with a year-over-year change of -1.6%. This indicates that home prices in University Place, WA are decreasing. According to Zillow, the 1-year price projection is 0.1%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$614,000-1.6%
Single Family $624,000-1.9%
Condos $342,000-1.2%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$458,000-2.1%
    3 Bed
    		$594,000-2.0%
    4 Bed
    		$686,000-1.6%
    5 Bed $787,687-1.2%
    Loading chart...

    % of Housing Stock

    Studio
    2.2%
    1 Bedroom
    11.0%
    2 Bedrooms
    34.1%
    3 Bedrooms
    31.8%
    4 Bedrooms
    17.4%
    5+ Bedrooms
    3.5%

    Rental Trends — University Place, WA

    As of July '25, Rentcast reports the average rent in University Place, WA is $1,970, with a year-over-year rent change of -8.8%. Per bedroom, the median rent as of July '25 in University Place, WA is studios: $1,310, 1-bedrooms: $1,520, 2-bedrooms: $2,030, 3-bedrooms: $2,560, 4-bedrooms: $3,300. The most common rental property sizes in University Place, WA are 2-bedroom and 1-bedroom, accounting for 54.2% and 22.4% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$1,800$1,970
    Studio Rent $1,300$1,310
    1 Bed Rent $1,550$1,520
    2 Bed Rent $1,900$2,030
    3 Bed Rent $2,600$2,560
    4 Bed Rent $3,200$3,300
    Loading chart...

    % of Rental Stock

    Studio
    4.0%
    1 Bedroom
    22.4%
    2 Bedrooms
    54.2%
    3 Bedrooms
    15.0%
    4 Bedrooms
    4.2%
    5+ Bedrooms
    0.2%

    Property Listings — University Place, WA

    As of Dec '25, Realtor.com reports that the median days on market for a home in University Place, WA is 71. This is a increase of 4.0% 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 30.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$590,000-5.0%
    Listing Count
    		508.0%
    Listings as % of Homes0.2%8.0%
    Days on Market
    		7212.0%
    Loading chart...

    Demographics — University Place, WA

    As of the latest ACS Survey released in 2023, University Place, WA has a population of 30,600, which has increased by 7.6% over the past 5 years. University Place, WA is a moderately popular place for families, as children make up 23.1% of the population. The area has a moderately educated workforce, with 43.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.6% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		30,6007.6%
    % Under 18
    		23.1%2.2%
    % Seniors
    		16.4%3.8%
    % WFH
    		14.6%204.2%
    % w/ College Degree
    		43.9%20.9%
    Loading chart...

    As of the latest ACS Survey released in 2023, University Place, WA is a predominantly white area, with 64.0% of the population identifying as white. The white population has shrunk by 5.3% in the last 5 years. The second most common race or ethnicity in University Place, WA is hispanic, making up 10.6% of the population. Foreign-born residents account for 11.0% of the population in University Place, WA, and this percentage has increased by 27.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		64.0%-5.3%
    % Black
    		6.6%-21.4%
    % Hispanic
    		10.6%32.5%
    % Asian
    		7.5%21.0%
    % Foreign Born
    		11.0%27.9%
    Loading chart...

    Mortgage and Risk — University Place, WA

    According to HUD data as of 2023, there were 476 mortgage originations in University Place, WA, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 55.0%, with 22.0% above 90% LTV (very high). This implies large mortgage risk in University Place, WA. Investor activity is low, as 1.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		476
    % Conventional Loans
    		83.0%
    % Government Loans
    		17.0%
    % Investor Loans
    		1.0%
    % Second Loans
    		1.0%
    % Cash Out Refinance
    		8.0%
    Loading chart...
    Loading chart...

    Rentals and Section 8 — University Place, WA

    As of 2024, the percent of homes in University Place, WA under the Section 8 program is 6.8%. 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 2-bedroom and 3-bedroom units appear to be good home sizes to consider for Section 8 housing in University Place, WA, because HUD payments exceed market rent, while 4-bedroom units do not.

    Section 8 Market Size

    Total Units under HUD
    		424
    Total Units Section 8
    		424
    % Rentals under Section 8
    		6.8%
    % Occupied Section 8
    		83.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$30$1,550$1,580
    2 Bedroom$40$1,900$1,940
    3 Bedroom$120$2,600$2,720
    4 Bedroom-$100$3,200$3,100

    Affordability — University Place, WA

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio6.2
    Median Home Price$614,000
    Median Household Income$94,600

    University Place, WA — ZIP Code Boundary Map

    Loading map...

    Nearby ZIP Codes

    Skyline, Tacoma, WA

    98465

    University Place, WA

    98467

    West End, Tacoma, WA

    98406

    South Tacoma, Tacoma, WA

    98409

    Old Tacoma

    98416

    Frequently Asked Questions