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  1. Home
  2. /Browse ZIP Codes
  3. /Washington
  4. /Lacey, WA - 98516

Lacey, WA—98516

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$582,000
0.2% YoY Growth
Household Income
$92,200
13.5% YoY Growth
Days on Market
30
18.0% Longer YoY
Home Price Forecast
-0.5%
Median Rent
$2,600
0.4% YoY Growth
1-Bed Rent
$1,800
18.5% YoY Growth
2-Bed Rent
$2,040
2.0% YoY Growth
3-Bed Rent
$2,650
3.4% YoY Growth

Other Zip Codes in Lacey, WA

9850398513
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Lacey, WA

As of May '26, the median home price in Lacey, WA is $582,000, with a year-over-year change of -0.2%. This indicates that home prices in Lacey, WA are flat. According to Zillow, the 1-year price projection is -0.5%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$582,000-0.2%
Single Family $582,000-0.3%
Condos N/AN/A

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • N/A
    N/A
    2 Bed
    		$588,000-1.3%
    3 Bed
    		$531,0000.2%
    4 Bed
    		$613,000-0.6%
    5 Bed $662,375-1.2%
    Loading chart...

    % of Housing Stock

    Studio
    4.2%
    1 Bedroom
    6.2%
    2 Bedrooms
    26.8%
    3 Bedrooms
    37.4%
    4 Bedrooms
    21.3%
    5+ Bedrooms
    4.1%

    Rental Trends — Lacey, WA

    As of July '25, Rentcast reports the average rent in Lacey, WA is $2,510, with a year-over-year rent change of -0.4%. Per bedroom, the median rent as of July '25 in Lacey, WA is studios: $1,700, 1-bedrooms: $1,860, 2-bedrooms: $1,950, 3-bedrooms: $2,730, 4-bedrooms: $3,030. The most common rental property sizes in Lacey, WA are 2-bedroom and 3-bedroom, accounting for 36.1% and 20.8% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,600$2,510
    Studio Rent $1,710$1,700
    1 Bed Rent $1,800$1,860
    2 Bed Rent $2,040$1,950
    3 Bed Rent $2,650$2,730
    4 Bed Rent $2,900$3,030
    Loading chart...

    % of Rental Stock

    Studio
    11.5%
    1 Bedroom
    18.1%
    2 Bedrooms
    36.1%
    3 Bedrooms
    20.8%
    4 Bedrooms
    12.0%
    5+ Bedrooms
    1.5%

    Property Listings — Lacey, WA

    As of May '26, Realtor.com reports that the median days on market for a home in Lacey, WA is 30. This is a increase of 18.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$675,0003.0%
    Listing Count
    		12124.0%
    Listings as % of Homes0.6%24.0%
    Days on Market
    		3018.0%
    Loading chart...

    Demographics — Lacey, WA

    As of the latest ACS Survey released in 2023, Lacey, WA has a population of 28,300, which has increased by 15.3% over the past 5 years. Lacey, WA is a moderately popular place for families, as children make up 23.5% of the population. The area has a moderately educated workforce, with 37.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.8% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		28,30015.3%
    % Under 18
    		23.5%1.7%
    % Seniors
    		19.8%7.0%
    % WFH
    		12.8%116.9%
    % w/ College Degree
    		37.0%-10.8%
    Loading chart...

    As of the latest ACS Survey released in 2023, Lacey, WA is a predominantly white area, with 62.4% of the population identifying as white. The white population has shrunk by 5.9% in the last 5 years. The second most common race or ethnicity in Lacey, WA is asian, making up 11.4% of the population. Foreign-born residents account for 14.3% of the population in Lacey, WA, and this percentage has increased by 12.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		62.4%-5.9%
    % Black
    		4.5%40.6%
    % Hispanic
    		10.3%-4.6%
    % Asian
    		11.4%-8.1%
    % Foreign Born
    		14.3%12.6%
    Loading chart...

    Mortgage and Risk — Lacey, WA

    Lacey, WA lacks sufficient mortgage origination data for analysis.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		N/A
    % Conventional Loans
    		N/A
    % Government Loans
    		N/A
    % Investor Loans
    		N/A
    % Second Loans
    		N/A
    % Cash Out Refinance
    		N/A
    Loading chart...
    Loading chart...

    Rentals and Section 8 — Lacey, WA

    As of 2024, the percent of homes in Lacey, WA under the Section 8 program is 2.4%. 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. In Lacey, WA, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.

    Section 8 Market Size

    Total Units under HUD
    		90
    Total Units Section 8
    		90
    % Rentals under Section 8
    		2.4%
    % Occupied Section 8
    		83.0%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom$80$1,800$1,880
    2 Bedroom$150$2,040$2,190
    3 Bedroom$350$2,650$3,000
    4 Bedroom$780$2,900$3,680

    Affordability — Lacey, WA

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio6.1
    Median Home Price$582,000
    Median Household Income$92,200

    Lacey, WA — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Lacey, WA

    98503

    Olympia, WA

    98506

    Johnson Landing, WA

    98303

    Longbranch, WA

    98351

    Lacey, WA

    98513

    Frequently Asked Questions