ZIP 98498 - 860Z200US98498 — Demographic Snapshot (2023)

Overview

If you’re considering ZIP code 98498 for a home purchase, investment opportunity, or business venture, understanding the area’s demographic and housing landscape is essential. Located in the Lakewood area of Washington, this ZIP code offers a diverse community with a mix of residential and economic potential. This snapshot, based on 2023 data, provides a clear picture of population trends, household income, housing costs, and racial composition to help you make informed decisions. Whether you’re a homebuyer, real estate investor, small-business owner, or analyst, these insights will guide your next steps in ZIP 98498.

Population & Households

ZIP 98498 is home to a population of 28,940 residents, making it a moderately sized community with a vibrant local presence. These individuals are distributed across 11,854 households, reflecting a strong residential base. With 12,842 total housing units in the area, there’s a slight surplus of homes compared to occupied households, which could indicate availability for new residents or investors looking to enter the market. This balance between population and housing suggests a stable community with room for growth, appealing to those seeking a settled yet dynamic area.

Income & Housing Costs

The median household income in ZIP 98498 stands at $88,382, positioning it as a relatively affluent area compared to national averages. This income level supports a robust local economy, benefiting small businesses and service providers. On the housing front, the median house value is $458,200, reflecting a competitive real estate market that could offer long-term value appreciation for buyers and investors. For renters, the median rent is $1,604 per month, which aligns with the area’s income levels and suggests a sustainable rental market. These figures highlight ZIP 98498 as a financially stable community with opportunities for both homeowners and renters.

Race & Ethnicity

The demographic makeup of ZIP 98498 is notably diverse, fostering a multicultural environment that can appeal to a wide range of residents and businesses. The racial composition includes 51.89% White, 9.41% Black, 7.98% Asian, and 12.65% Hispanic residents, with the remainder comprising other or mixed-race individuals. This diversity can be a significant draw for families seeking inclusive communities, businesses targeting varied customer bases, or investors looking for culturally rich areas with broad appeal. Understanding this mix helps stakeholders anticipate community needs and preferences.

Key Facts

• Total population in ZIP 98498: 28,940 residents.
• Total households: 11,854, indicating a strong residential foundation.
• Total housing units: 12,842, suggesting potential availability for new occupants.
• Median household income: $88,382, supporting a stable local economy.
• Median house value: $458,200, reflecting a competitive housing market.
• Median rent: $1,604, aligning with income levels for renters.
• Racial diversity: 51.89% White, 9.41% Black, 7.98% Asian, 12.65% Hispanic.

What This Means for You

For homebuyers, ZIP 98498 offers a promising market with a median house value of $458,200, suggesting potential for equity growth in a financially stable area. The diverse community and solid median income of $88,382 also point to a welcoming, economically sound neighborhood for families or individuals. Real estate investors and agents will find value in the slight surplus of housing units (12,842 total) compared to households (11,854), which may indicate opportunities for rentals or flips, especially with a median rent of $1,604 attracting consistent demand. Small-business owners can leverage the area’s diversity and income levels to target a broad customer base, particularly in sectors like retail, dining, or services that cater to varied cultural preferences. Analysts can use these metrics to benchmark ZIP 98498 against nearby areas, identifying trends in housing or demographic shifts for deeper market studies. Whatever your role, these insights provide a foundation for strategic planning in this community.

Run This Study Yourself

• Want to dive deeper into ZIP 98498 or compare it with other areas? Start by visiting ZipcodeGPT for a user-friendly platform to analyze ZIP code data.
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