Downtown Tacoma, Tacoma, WA—98402
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Downtown Tacoma, Tacoma, WA
As of Oct '25, the median home price in Downtown Tacoma, Tacoma, WA is $435,000, with a year-over-year change of -2.5%. This indicates that home prices in Downtown Tacoma, Tacoma, WA are decreasing. 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 | $435,000 | -2.5% |
| Single Family | $467,000 | -1.1% |
| Condos | $417,000 | -3.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Downtown Tacoma, Tacoma, WA
As of July '25, Rentcast reports the average rent in Downtown Tacoma, Tacoma, WA is $1,580, with a year-over-year rent change of -19.4%. Per bedroom, the median rent as of July '25 in Downtown Tacoma, Tacoma, WA is studios: $1,250, 1-bedrooms: $1,560, 2-bedrooms: $2,360. The most common rental property sizes in Downtown Tacoma, Tacoma, WA are 1-bedroom and studio, accounting for 43.4% and 37.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,580 |
| Studio Rent | $1,240 | $1,250 |
| 1 Bed Rent | $1,440 | $1,560 |
| 2 Bed Rent | $2,200 | $2,360 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Downtown Tacoma, Tacoma, WA
As of Oct '25, Realtor.com reports that the median days on market for a home in Downtown Tacoma, Tacoma, WA is 125. This is a increase of 46.0% 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 36.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $356,000 | -16.0% |
Listing Count | 28 | -17.0% |
| Listings as % of Homes | 0.2% | -17.0% |
Days on Market | 125 | 46.0% |
Demographics — Downtown Tacoma, Tacoma, WA
As of the latest ACS Survey released in 2023, Downtown Tacoma, Tacoma, WA has a population of 7,500, which has increased by 20.2% over the past 5 years. Downtown Tacoma, Tacoma, WA is a less popular place for families, as children make up 4.7% 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 22.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 7,500 | 20.2% |
% Under 18 | 4.7% | -20.3% |
% Seniors | 15.5% | 19.2% |
% WFH | 22.2% | 252.4% |
% w/ College Degree | 43.9% | 2.6% |
As of the latest ACS Survey released in 2023, Downtown Tacoma, Tacoma, WA is a predominantly white area, with 61.7% of the population identifying as white. The white population has grown by 2.3% in the last 5 years. The second most common race or ethnicity in Downtown Tacoma, Tacoma, WA is hispanic, making up 9.9% of the population. Foreign-born residents account for 8.9% of the population in Downtown Tacoma, Tacoma, WA, and this percentage has decreased by 28.8% 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 | 61.7% | 2.3% |
% Black | 9.4% | -6.0% |
% Hispanic | 9.9% | -5.7% |
% Asian | 8.2% | 2.5% |
% Foreign Born | 8.9% | -28.8% |
Mortgage and Risk — Downtown Tacoma, Tacoma, WA
According to HUD data as of 2023, there were 33 mortgage originations in Downtown Tacoma, Tacoma, WA, of which 79.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Downtown Tacoma, Tacoma, WA. Investor activity is low, as 3.0% of loans were by investors. 3.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 33 |
% Conventional Loans | 79.0% |
% Government Loans | 21.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 3.0% |
Loan Activity
Rentals and Section 8 — Downtown Tacoma, Tacoma, WA
Downtown Tacoma, Tacoma, WA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 758 |
Total Units Section 8 | 715 |
% Rentals under Section 8 | 20.0% |
% Occupied Section 8 | 87.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $190 | $1,440 | $1,630 |
| 2 Bedroom | -$190 | $2,200 | $2,010 |
| 3 Bedroom | N/A | N/A | $2,820 |
| 4 Bedroom | N/A | N/A | $3,220 |
Affordability — Downtown Tacoma, Tacoma, WA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.9 |
| Median Home Price | $435,000 |
| Median Household Income | $54,700 |