Friday, March 24, 2023
HomeProperty InvestmentNeighborhood Snapshot - Downtown, Tacoma, WA

Neighborhood Snapshot – Downtown, Tacoma, WA

The topic of in the present day’s snapshot is for Downtown, Tacoma, Washington. Primarily based on our evaluation, Tacoma’s year-over-year common rents elevated throughout all bed room varieties.

Our commonplace neighborhood evaluation makes use of a 12-month “LookBack” to determine a median baseline lease. The outcomes from the 12-month LookBack evaluation are offered within the tables under for Tacoma 1–2 bed room rents from March 1, 2021 – March 1, 2022:


Because the desk reveals, 1BR models elevated by 11% from final 12 months or $156 extra, and the 2BR models elevated by 13% from final 12 months or $237 extra. As demonstrated by the desk, year-over-year efficiency for all chosen bed room varieties elevated in lease costs from final 12 months.


Market Exercise: Tacoma, Washington

Are you curious about investing in Tacoma? Location is a crucial issue to contemplate when discovering a worthwhile marketplace for a rental property. The important thing traits of location embody a powerful economic system, a rising labor pressure, and excessive rental demand. Under are some fast details concerning the Tacoma rental market that may make it easier to together with your funding evaluation and general choice.

  • Worth-to-Hire Ratio

    • Avg 2BR Home Worth: $531,915 (In keeping with Redfin)
    • Avg Annual 2BR Hire: $24,696 ($2,058 x 12)
  • Inhabitants Development:
    • Tacoma’s inhabitants elevated by 11% over the past decade from 2010 to 2020 (In keeping with US Census)
  • Main Firms & Establishments:
    • True Blue Inc., PeopleReady, Geneva Basis, Sound Physicians, Milgard Home windows & Doorways, Tacoma Energy, MultiCare Well being System, CHI Franciscan Well being, Safeway & Albertsons
  • Employment Development: Employment progress elevated by 3% from 2020-2021 (In keeping with US Bureau of Labor Statistics)

About Rentometer

Rentometer is the #1 software for evaluating residential lease charges wherever within the U.S. To succeed as an actual property investor, you want stable, present market intelligence that will help you set the correct lease charges in Tacoma. Understanding native rents (and the components that drive them) may also help cut back funding danger, improve occupancy and enhance your money movement – and revenue. With Rentometer, you may have native, present rents out there proper at your fingertips.

This text was written by the Rentometer Content material Workforce. The Rentometer Weblog options recent takes and insights on rental housing matters, companies, and expertise.

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