ZIP 98404 - 860Z200US98404 — Demographic Snapshot (2023)

Overview

If you’re considering a move, investment, or business opportunity in ZIP 98404, located in the Tacoma area of Washington, this demographic and housing snapshot offers a clear picture of the community as of 2023. With a population of over 35,000 and a diverse cultural makeup, this area presents unique opportunities and challenges for homebuyers, real estate investors, small-business owners, and analysts. Let’s dive into the data to help you understand what makes ZIP 98404 distinct and whether it aligns with your goals.

Population & Households

ZIP 98404 is home to 35,829 residents, making it a moderately sized community with a vibrant local presence. These individuals are distributed across 12,630 households, reflecting a mix of family structures and living arrangements. With 13,174 total housing units in the area, there’s a slight surplus of homes compared to occupied households, which could indicate some availability for new residents or investors looking to enter the market. This balance between population and housing stock is a key factor to consider if you’re planning a move or assessing rental demand.

Income & Housing Costs

The median household income in ZIP 98404 stands at $79,562, suggesting a solid economic base for many residents. This income level supports a housing market where the median home value is $387,300—a figure that positions the area as relatively accessible compared to pricier nearby markets in the Puget Sound region. For renters, the median monthly rent is $1,440, which aligns with the income levels but may still pose a challenge for lower-earning households. These financial metrics are crucial for gauging affordability, whether you’re buying a home, investing in property, or planning a business that relies on local spending power.

Race & Ethnicity

ZIP 98404 boasts a diverse population, reflecting a rich cultural tapestry that shapes the community’s character. The racial and ethnic composition breaks down as follows: 38.09% White, 11.02% Black, 17.35% Asian, and 20.42% Hispanic. This diversity can be a significant draw for businesses seeking a broad customer base or for families looking for an inclusive environment. Understanding these demographics can also help investors and entrepreneurs tailor their offerings to meet the needs and preferences of a varied population.

Key Facts

• Total population: 35,829 residents, offering a sizable community for engagement or market reach.
• Total households: 12,630, indicating a strong base of potential customers or tenants.
• Total housing units: 13,174, with a small surplus that may ease entry for new buyers or renters.
• Median household income: $79,562, reflecting a stable economic foundation for many families.
• Median home value: $387,300, a competitive price point in the regional housing market.
• Median rent: $1,440 per month, a key consideration for rental property investors.
• Diverse demographics: 38.09% White, 11.02% Black, 17.35% Asian, and 20.42% Hispanic, highlighting cultural variety.

What This Means for You

For homebuyers, ZIP 98404 offers a reasonably priced entry into homeownership with a median value of $387,300, paired with a median income that supports mortgage affordability for many. The slight surplus of housing units could mean less competition when searching for a property. Investors and real estate agents will find potential in the rental market, where a median rent of $1,440 reflects steady demand, especially given the area’s population size and diversity. The extra housing stock might also signal opportunities for flipping or long-term holds. Small-business owners can leverage the diverse demographic makeup to appeal to a wide audience, while the solid median income suggests disposable income for local spending. Analysts can use these metrics to benchmark ZIP 98404 against neighboring areas, identifying trends in housing or economic growth. Across all groups, the data points to a balanced, opportunity-rich community worth exploring further.

Run This Study Yourself

• Curious about diving deeper into ZIP 98404 or comparing it with other areas? Start by visiting ZipcodeGPT to access powerful demographic and housing analysis tools.
• Input any ZIP code to uncover detailed insights on population, income, housing costs, and more, tailored to your specific needs.
• Use the platform to make informed decisions, whether you’re buying, investing, or launching a business in a new market.