Pierce County, Washington Housing Market
In Pierce County, Washington, the median home value is $526,600, with a median monthly rent of $1,806. This places Pierce County at #120 nationally out of 3134 counties by median home value, and #10 within Washington.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,356
- Establishments: 21,098
- BLS QCEW, 2025
Housing Supply
- Single-family: 1,717
- Multi-family: 2,065
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 379,771 (avg $94,374)
- Outflow: 368,752 (avg $94,855)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 10 active ZIP codes in Pierce County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 98349 | 472.0 | +8.66% | 2025 |
| 2 | 98424 | 317.9 | +2.13% | 2025 |
| 3 | 98360 | 349.9 | +8.72% | 2025 |
| 4 | 98443 | 358.9 | +4.91% | 2025 |
| 5 | 98580 | 325.8 | +3.55% | 2025 |
| 6 | 98444 | 369.2 | +3.59% | 2025 |
| 7 | 98375 | 327.9 | +3.53% | 2025 |
| 8 | 98466 | 361.1 | -0.52% | 2025 |
| 9 | 98332 | 402.0 | +10.36% | 2025 |
| 10 | 98328 | 332.0 | +5.51% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Pierce County Compares
| Metric | Pierce County | Washington Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $526,600 | $436,312 | $227,706 |
| Median Gross Rent | $1,806 | $1,251 | $968 |
| Owner Occupancy Rate | 64.7% | 71.3% | 73.3% |
| Price/Rent Ratio | 24.3 | 29.2 | 18.7 |
Market Analysis
The median home value in Pierce County is 20.7% above the Washington state average and 131.3% above the U.S. national average. The median rent of $1,806/month is 44.4% above the state average.
With a price-to-rent ratio of 24.3, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Pierce County has an owner-occupancy rate of 64.7%, compared to 71.3% in Washington and 73.3% nationally. This indicates a more renter-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Salt Lake County | Utah | $525,700 | $1,592 |
| Garfield County | Colorado | $527,800 | $1,637 |
| Essex County | New Jersey | $524,100 | $1,531 |
| Union County | New Jersey | $529,200 | $1,730 |
| Bronx County | New York | $529,500 | $1,458 |
Other Counties in Washington
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Skamania County | $529,500 | $1,068 | 80.0% |
| Clark County | $522,900 | $1,748 | 66.4% |
| Jefferson County | $535,000 | $1,522 | 79.0% |
| Skagit County | $545,100 | $1,536 | 70.1% |
| Kitsap County | $555,100 | $1,822 | 70.1% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).