JeffCroweCRE

Housing market/Washington/ZIP 98406

ACS 2023 · FY2027 SAFMR

ZIP 98406 Tacoma, Washington

Tacoma, WA HUD Metro FMR Area · Washington. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.

Population
23,642
Households
10,150
Median HH income
$104,761
Renter share
36.3%
Median gross rent
$1,677
Vacancy
5.6%
Pop. change
+2.3%
2BR SAFMR
$2,070
SAFMR / rent
1.234×
2–49 unit stock
2,510
LIHTC proj / units
2 / 471
HUD assisted MF
1 / 40

ZIP brief

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HUD schedule, ACS stock, and the 90–110% band for ZIP 98406 · WA — sent to you.

ZIP 98406 · WA

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ACS rent vs 2BR SAFMR

ZIP 98406 — Tacoma, WA HUD Section 8 Payment Standards / SAFMR →
ACS median rent$1,677
2BR SAFMR$2,070
90% floor$1,863
110% ceiling$2,277

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 98406

  • 1-unit detached7,10166.1%
  • 1-unit attached2492.3%
  • 2–4 units5745.3%
  • 5–49 units1,93618.0%
  • 50+ units8888.3%
TypeUnitsShare
1-unit detached7,10166.1%
1-unit attached2492.3%
2 units (duplex)1561.5%
3–4 units4183.9%
5–9 units5425.0%
10–19 units8437.8%
20–49 units5515.1%
50+ units8888.3%
Mobile00.0%

2–4 unit share 5.3% · 5–49 unit share 18.0% · combined 2–49 23.4%.

Units by bedrooms

Studio
658
1BR
1,438
2BR
2,489
3BR
3,445
4BR
2,176
5+
542

Rent burden

Rent ≥30% of income50.1%
Rent ≥50% of income28.7%
  • ACS median gross rent $1,677 (all bedrooms, occupied rentals).
  • Median contract rent $1,567.
  • Renters paying ≥30% of income 50.1%; ≥50% 28.7%.
  • FY2027 2BR SAFMR $2,070 (1.234× ACS median gross rent).

Population

23,642 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +2.3%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: 2 projects, 471 units.
  • HUD project-based assisted MF: 1 properties, 40 assisted units.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 1,765 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.

Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.

What the data shows

ZIP 98406 36.3% of occupied households are renters; vacancy is 5.6%; ACS median gross rent is $1,677; population increased +2.3% between the 2018 and 2023 ACS vintages; the housing stock includes 574 units in 2–4-unit structures and 1,936 units in 5–49-unit structures; 2 LIHTC projects totaling 471 units; FY2027 2BR SAFMR is $2,070 versus ACS median gross rent of $1,677. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.

Washington research

ZIP 98406 is a Census / HUD profile for Tacoma, WA. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 98406 — Tacoma, WA HUD Section 8 Payment Standards / SAFMR·Washington ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
98001Tacoma, WA HUD Metro FMR Area23.8%$1,927$2,60098022Tacoma, WA HUD Metro FMR Area19.3%$1,626$2,13098023Tacoma, WA HUD Metro FMR Area33.6%$1,875$2,34098047Tacoma, WA HUD Metro FMR Area42.2%$1,728$2,17098092Tacoma, WA HUD Metro FMR Area25.6%$1,870$2,37098303Tacoma, WA HUD Metro FMR Area1.3%—$2,23098321Tacoma, WA HUD Metro FMR Area11.5%$1,805$2,09098323Tacoma, WA HUD Metro FMR Area9.8%$1,438$1,88098327Tacoma, WA HUD Metro FMR Area39.3%$2,230$2,63098328Tacoma, WA HUD Metro FMR Area17.2%$1,211$1,78098329Tacoma, WA HUD Metro FMR Area12.0%$1,666$2,13098332Tacoma, WA HUD Metro FMR Area17.7%$2,373$2,770

Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Washington research. Brokerage is Georgia.

FAQ

What is the housing market like in ZIP 98406?

ZIP 98406 (Tacoma, WA HUD Metro FMR Area) has 23,642 residents, 10,150 households, a renter share of 36.3%, median household income of $104,761, and ACS 2023 median gross rent of $1,677. Vacancy is 5.6%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 98406?

ACS counts 156 units in 2-unit buildings, 418 in 3–4 unit buildings, 542 in 5–9, 843 in 10–19, and 551 in 20–49. Combined 2–49 unit stock is 2,510 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 98406?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $2,070. See the full schedule and 90–110% payment-standard band on the ZIP 98406 — Tacoma, WA HUD Section 8 Payment Standards / SAFMR.

Does this Washington ZIP profile include Georgia listings?

No. ZIP 98406 is Census / HUD research for Tacoma, WA HUD Metro FMR Area. Jeff Crowe CRE does not list Washington property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.