Tacoma, Washington Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Tacoma, Washington rental market.
Tacoma, Washington
Average Apartment Rent
$1,688
Y-o-Y Change in Average
Apartment Rent
-0.5%
As of November 2024
Compared to a year ago, Tacoma, Washington apartments have recorded a -0.5% rent decrease.
Tacoma, Washington Average apartment rent trend
Tacoma, Washington Average Apartment Rent
Tacoma, Washington Apartment rent ranges
At 50.99%, apartments priced $1,500 - $2,000 represent the bulk of Tacoma, Washington rentals, while condos priced $500 - $700 hold the lowest share of the market – 0.3%.
Tacoma, Washington Housing tenure**
Renters take up 43% of Tacoma, Washington real estate, occupying a total of 38,551 units, while homeowners live in 50,677 properties.
Median number of rooms of renter-occupied housing units**
3.9
Renter median household income**
$53,785
Average household size of renter-occupied housing units**
2.05
Rental vacancy rate**
4.1%
Tacoma, Washington Renter-occupied housing units by no. of bedrooms**
There are 14,883 rentals in Tacoma, Washington with 2 beds making up the highest share of the market, at 39%. Units with 5 or more beds, on the other hand, hold the lowest percentage (1%), amounting to 511 units. Overall, the median number of rooms in Tacoma, Washington homes for rent is 3.9.
Tacoma, Washington Renter-occupied units by age of householder**
Most condos for rent in Tacoma, Washington are occupied by residents in the 25 - 34 years age group (28%), followed by those in the 35 - 44 years age group (18%). At the same time, people in the 85 years and over age group make up the lowest share of the local rental market – 3%.
Tacoma, Washington Renter-occupied housing units by family type**
Tacoma, Washington Renter-occupied housing units by the presence of own children**
A total of 16,383 apartments for rent in Tacoma, Washington, or 42% of all rentals are family households. Additionally, 22% of rental homes include children under the age of 18 – that’s 8,562 units. All in all, the median size of a renter-occupied household in Tacoma, Washington is 2.05.
Tacoma, Washington Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 28% of the rental market. In contrast, residents with less than a high school degree reside in 10% of the homes for rent in Tacoma, Washington.
Tacoma, Washington Renter-occupied units by year structure built**
The highest share of Tacoma, Washington apartment rentals, namely 19% or 7,225 units, were Built 1939 or earlier, followed by those Built 1970 - 1979 (17%, 6,380 units), and the ones Built 1980 - 1989 (14%, 5,213 units).
Tacoma, Washington Renter-occupied units by year householder moved in**
Median year renter moved into unit 2017
Most Tacoma, Washington renters (42%) moved in 2010 to 2017, while only 1% of them moved in 1989 or earlier. Overall, the median year renters have occupied their Tacoma, Washington condos for rent is 2017.
Tacoma, Washington Renter-occupied housing units by vehicles available**
When it comes to transportation options, 45% of Tacoma, Washington renters have 1 vehicle available per household, 30% of them have 2 vehicles available, and 17% have No vehicle available.
Tacoma, Washington Means of transportation to work of householders living in renter-occupied housing units**
Tacoma, Washington Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Tacoma, Washington apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
