State rental market analysis · WA
Washington rental markets
74 tracked cities over 20,000 population, 57 ranked and summarized by their median Overall. Every number traces to Census, Zillow and BLS. All states ranked →
Browse every Washington ZIP Code area → · the full server-rendered index for this state.
Part of the Pacific Census division (West region).
The honest read
Washington ranks #44 of 51 states for rental investing, with a median Overall of 38.5/100 across its ranked cities, below the national median. 57 ranked cities roll up into this grade.
A state grade is the median of its ranked cities, a screen for where to look, not underwriting. Open any city below for its full shown-math breakdown, or run a specific deal through the cap rate and cash-flow calculators.
Where it ranks, factor by factor
Every value is the median across the 57 ranked cities in this state. The national rank compares all 51 states on that one factor; the engine already flips inverted factors (affordability, low unemployment) so a better rank always means a better market. Each factor sits in one of the model’s three categories (Cash Flow, Growth, or Stability); this is a representative summary, and the full thirteen-factor breakdown is on each city’s page. Full methodology.
| Factor | Category | State value | National rank |
|---|---|---|---|
| Gross rent yield | Cash Flow | 3.8% | not measured |
| Rent growth | Growth | 3.3% | not measured |
| Home value growth | Growth | 3.8% | not measured |
| Population growth | Growth | 1.0% | not measured |
| Job growth | Growth | 1.3% | not measured |
| Price-to-income | Cash Flow | 7.0× | not measured |
| Unemployment | Stability | 4.1% | not measured |
| Rental demand | Stability | 45% renters · 436.4% vacancy | not measured |
| Income growth | Growth | 6.7% | not measured |
Every city in Washington, ranked
Led by Battle Ground at 63/100. Click any column to re-sort; every city links to its full shown-math breakdown.
| WA rank | City | Grade | Cash Flow | Growth | Stability | Typical home value | Gross yield | National rank |
|---|---|---|---|---|---|---|---|---|
| 1 | Battle Ground | 63 | C | B | B | $608,297 | 4.7% | #222 |
| 2 | Bonney Lake | 62 | C | B | B | $675,413 | 4.9% | #236 |
| 3 | Lake Stevens | 61 | C | B | B | $698,093 | 5.2% | #263 |
| 4 | Maple Valley | 57 | C | B | B | $784,011 | 4.7% | #436 |
| 5 | Lacey | 56 | C | B | C | $517,030 | 5.1% | #475 |
| 6 | Tumwater | 56 | D | B | B | $529,264 | 4.5% | #478 |
| 7 | Marysville | 56 | C | B | C | $626,088 | 5.0% | #482 |
| 8 | Covington | 54 | D | B | B | $664,783 | 4.3% | #553 |
| 9 | Puyallup | 53 | D | B | C | $573,027 | 4.7% | #607 |
| 10 | Pasco | 53 | C | B | C | $421,383 | 4.7% | #624 |
| 11 | Spokane Valley | 49 | D | B | C | $418,234 | 4.4% | #798 |
| 12 | Vancouver | 48 | D | B | C | $508,393 | 4.3% | #892 |
| 13 | Bremerton | 47 | D | B | C | $488,829 | 4.8% | #901 |
| 14 | Moses Lake | 46 | C | B | D | $367,681 | 4.9% | #957 |
| 15 | Mountlake Terrace | 46 | F | B | B | $678,553 | 3.7% | #1008 |
| 16 | Spokane | 46 | D | B | C | $401,824 | 4.5% | #1010 |
| 17 | Tacoma | 45 | D | B | C | $496,203 | 4.3% | #1018 |
| 18 | Olympia | 45 | D | B | C | $536,583 | 4.5% | #1022 |
| 19 | Camas | 45 | D | B | C | $750,827 | 3.6% | #1034 |
| 20 | Richland | 44 | C | C | D | $470,131 | 4.5% | #1115 |
| 21 | Tukwila | 43 | D | B | B | $578,581 | 4.2% | #1126 |
| 22 | Port Angeles | 43 | D | C | B | $461,289 | 4.4% | #1153 |
| 23 | Arlington | 43 | D | B | C | $664,068 | 4.0% | #1162 |
| 24 | Des Moines | 42 | D | C | B | $607,792 | 4.1% | #1186 |
| 25 | Kennewick | 42 | D | C | D | $435,000 | 4.6% | #1214 |
| 26 | SeaTac | 41 | F | B | B | $589,243 | 4.1% | #1249 |
| 27 | Yakima | 40 | D | C | C | $367,203 | 4.4% | #1271 |
| 28 | Mount Vernon | 39 | D | D | B | $592,945 | 4.5% | #1303 |
| 29 | Issaquah | 38 | F | B | C | $1,137,397 | 3.2% | #1336 |
| 30 | Longview | 38 | D | C | B | $392,665 | 3.9% | #1348 |
| 31 | Wenatchee | 38 | D | D | B | $500,903 | 4.1% | #1375 |
| 32 | Oak Harbor | 38 | D | C | D | $536,285 | 4.4% | #1378 |
| 33 | Kent | 37 | F | C | C | $647,138 | 3.7% | #1387 |
| 34 | Auburn | 37 | D | B | D | $609,464 | 3.8% | #1391 |
| 35 | Sammamish | 37 | F | C | B | $1,557,390 | 2.9% | #1432 |
| 36 | University Place | 36 | F | B | C | $662,353 | 3.6% | #1447 |
| 37 | Lakewood | 36 | F | B | C | $525,021 | 4.0% | #1451 |
| 38 | Bellingham | 35 | F | C | B | $672,756 | 3.5% | #1487 |
| 39 | Federal Way | 35 | F | C | C | $598,030 | 3.9% | #1491 |
| 40 | Bainbridge Island | 35 | F | C | B | $1,200,693 | 3.0% | #1492 |
| 41 | Bothell | 34 | F | B | C | $1,015,871 | 3.1% | #1530 |
| 42 | Everett | 34 | F | B | C | $648,066 | 3.6% | #1545 |
| 43 | Renton | 34 | F | C | C | $746,360 | 3.6% | #1550 |
| 44 | Mukilteo | 33 | F | C | B | $909,085 | 3.1% | #1566 |
| 45 | Kenmore | 32 | F | C | C | $1,008,245 | 3.1% | #1599 |
| 46 | Seattle | 32 | F | B | C | $851,471 | 3.2% | #1606 |
| 47 | Burien | 30 | F | C | C | $643,360 | 3.5% | #1645 |
| 48 | Walla Walla | 30 | D | D | D | $420,895 | 4.4% | #1666 |
| 49 | Shoreline | 29 | F | B | C | $803,451 | 3.0% | #1674 |
| 50 | Mill Creek | 28 | F | C | C | $952,678 | 3.0% | #1694 |
| 51 | Kirkland | 28 | F | B | C | $1,212,741 | 2.6% | #1698 |
| 52 | Lynnwood | 27 | F | B | D | $760,273 | 3.5% | #1711 |
| 53 | Redmond | 27 | F | B | C | $1,352,192 | 2.4% | #1719 |
| 54 | Edmonds | 26 | F | C | C | $922,484 | 3.0% | #1729 |
| 55 | Pullman | 26 | F | C | D | $435,863 | 3.9% | #1732 |
| 56 | Bellevue | 22 | F | B | D | $1,451,887 | 2.3% | #1786 |
| 57 | Mercer Island | 16 | F | C | B | $2,295,406 | 1.4% | #1832 |
Data as of: Zillow ZHVI/ZORI through the latest monthly release · Census ACS 5-yr 2019–2023 · Census PEP July 2024 · BLS LAUS county 2023 annual. Generated 2026-09-01. Methodology & limitations · underwrite any specific deal with the free calculators.
Limited-data cities in Washington
These 17 cities lack enough measured factors to rank, so they are excluded from the state grade; their pages show exactly what could be measured.
ZIP markets in Washington
605 Census ZIP Codes (ZCTAs) in Washington · 385 data-eligible for subscores. These are sub-city government areas ranked separately from the Washington city table. The overall Rental Investor ZIP Score leaderboard leads; the two component subscores (affordability, rental-market context) follow as independent percentiles. ZIP ranks are shown within the ZIP universe only, never mixed with, and not directly comparable to, city ranks. Vintage: the Key metric column is Census ACS 2020–2024 (5-year), a newer release than the ACS 2019–2023 figures the city table above uses; the same measure can legitimately disagree between the two.
Best overall ZIP Codes in Washington
Ranked by the overall Rental Investor ZIP Score. The # is each ZIP Code's canonical WA state rank; the smaller figure is its national rank. Separate from the Washington city table and not directly comparable to it.
| WA rank | ZIP Code | Overallgrade · national | Key metric |
|---|---|---|---|
| #1 | 98662Five Corners | A 69#609 nat | 4.9%Survey yield |
| #2 | 98684Vancouver | A 69#624 nat | 5.0%Survey yield |
| #3 | 98270Marysville | A 69#677 nat | 4.0%Survey yield |
| #4 | 98671Washougal | A 68#845 nat | 3.5%Survey yield |
| #5 | 98682Vancouver | A 68#906 nat | 4.8%Survey yield |
| #6 | 98052Redmond | A 68#972 nat | 2.4%Survey yield |
| #7 | 98503Lacey | A 67#1,009 nat | 4.8%Survey yield |
| #8 | 98271Marysville | A 67#1,053 nat | 4.6%Survey yield |
| #9 | 98802East Wenatchee | A 66#1,227 nat | 3.8%Survey yield |
| #10 | 98512Tumwater | A 66#1,246 nat | 4.5%Survey yield |
| #10 | 99301Pasco | A 66#1,246 nat | 3.8%Survey yield |
| #12 | 98661Vancouver | A 66#1,279 nat | 4.0%Survey yield |
Top affordability ZIP Codes in Washington
State-scoped leaders on the affordability subscore only (national rank shown is within that subscore’s data-eligible universe). Substantially an inverse housing-cost signal: a component of the overall score, not a predicted return.
| # | ZIP Code | Affordability | Key metric |
|---|---|---|---|
| 1 | 98587Taholah | 92#242 nat | 7.8%Survey yield |
| 2 | 98643Rosburg | 79#1,457 nat | 8.4%Survey yield |
| 3 | 98628Klickitat | 72#2,525 nat | 5.6%Survey yield |
| 4 | 98943South Cle Elum | 69#3,110 nat | 5.3%Survey yield |
| 5 | 99032Sprague | 69#3,110 nat | 5.1%Survey yield |
| 6 | 98638Deep River | 64#4,544 nat | 5.3%Survey yield |
| 7 | 98380Seabeck | 62#4,941 nat | 5.8%Survey yield |
| 8 | 98932Granger | 61#5,359 nat | 5.4%Survey yield |
| 9 | 99167 | 60#5,510 nat | 4.7%Survey yield |
| 10 | 98323Carbonado | 59#6,046 nat | 4.7%Survey yield |
| 11 | 99103Almira | 58#6,163 nat | 5.0%Survey yield |
| 12 | 98935Grandview | 58#6,302 nat | 5.2%Survey yield |
Deepest rental-market ZIP Codes in Washington
State-scoped leaders on the rental-market-context subscore only (national rank shown is within that subscore’s data-eligible universe). Rental depth/tightness: a separate component, never combined here with affordability.
| # | ZIP Code | Rental market | Key metric |
|---|---|---|---|
| 1 | 99001Airway Heights | 85#21 nat | 4.7%Survey yield |
| 2 | 99348Prescott | 84#32 nat | 4.7%Survey yield |
| 3 | 98465Tacoma | 80#260 nat | 3.1%Survey yield |
| 4 | 98923Cowiche | 80#271 nat | 4.5%Survey yield |
| 5 | 99349Desert Aire | 79#311 nat | 3.5%Survey yield |
| 6 | 98390Sumner | 79#347 nat | 4.6%Survey yield |
| 7 | 98812Brewster | 79#394 nat | 3.0%Survey yield |
| 8 | 98902Yakima | 78#456 nat | 5.0%Survey yield |
| 9 | 98684Vancouver | 78#491 nat | 5.0%Survey yield |
| 10 | 98813Bridgeport | 77#573 nat | 5.3%Survey yield |
| 11 | 98198Des Moines | 77#634 nat | 3.7%Survey yield |
| 12 | 98310Bremerton | 76#703 nat | 4.5%Survey yield |