ZIP 98405 - 860Z200US98405 — Demographic Snapshot (2023)

Overview

If you're considering a move, investment, or business opportunity in ZIP 98405, located in the heart of Tacoma, Washington, this demographic and housing snapshot offers a clear picture of the area in 2023. With a population of over 25,000 and a diverse community, this ZIP code presents a mix of opportunities for homebuyers, real estate investors, small-business owners, and analysts. Drawing from the latest data, this article breaks down key metrics like population, income, housing costs, and racial composition to help you make informed decisions.

Population & Households

ZIP 98405 is home to 25,306 residents, making it a moderately sized community within the Tacoma area. These individuals are distributed across 10,873 households, reflecting a vibrant residential base. The total number of housing units stands at 11,645, indicating a slight surplus of available homes or rentals compared to occupied households. This balance suggests potential opportunities for buyers or investors looking to enter the market, as well as for businesses targeting local residents.

Income & Housing Costs

The median household income in ZIP 98405 is $80,024, a figure that points to a relatively stable economic environment for many residents. This income level supports a housing market where the median home value is $443,800, reflecting a significant investment for prospective buyers. For renters, the median monthly rent is $1,480, which aligns with the income profile but may pose affordability challenges for some. These numbers are critical for understanding the financial landscape—whether you're budgeting for a home purchase, evaluating rental property returns, or assessing the purchasing power of potential customers.

Race & Ethnicity

The demographic makeup of ZIP 98405 showcases a diverse community, which can be a draw for those seeking an inclusive environment. The racial composition includes 57.93% White, 12.55% Black, 4.77% Asian, and 11.42% Hispanic residents. This diversity not only enriches the cultural fabric of the area but also offers unique opportunities for businesses catering to varied consumer preferences and for investors considering the appeal of a multicultural neighborhood.

Key Facts

• Total population: 25,306 residents in ZIP 98405 as of 2023.
• Total households: 10,873, supporting a strong residential community.
• Total housing units: 11,645, suggesting some availability for new occupants.
• Median household income: $80,024, indicating a solid economic base.
• Median home value: $443,800, reflecting a competitive housing market.
• Median rent: $1,480 per month, relevant for renters and landlords.
• Racial diversity: 57.93% White, 12.55% Black, 4.77% Asian, 11.42% Hispanic.

What This Means for You

For homebuyers, ZIP 98405 offers a community with a median home value of $443,800, which may require careful financial planning given the median household income of $80,024. The slight surplus of housing units (11,645 total) compared to households (10,873) could mean less competition for available properties, but it’s wise to act quickly in a market like this. Real estate investors and agents will find potential in both the owner-occupied and rental markets, with median rents at $1,480 providing a reasonable return on investment, especially in a diverse and growing area. Small-business owners can leverage the population of 25,306 and the cultural diversity to tailor products or services—think ethnic cuisine, community events, or niche retail that resonates with varied demographics. Analysts can use these metrics to benchmark ZIP 98405 against neighboring areas, focusing on income-to-housing cost ratios or demographic trends for deeper market insights. Across all groups, the data points to a stable, multifaceted community worth exploring.

Run This Study Yourself

• Want to dive deeper into ZIP 98405 or compare it with another area? Start by visiting ZipcodeGPT for a user-friendly platform to analyze ZIP code data.
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