What is the median home value in ZIP 98203 in Snohomish County, WA?

The median home value in ZIP 98203 in Snohomish County, WA is $637,987, according to the latest Census ACS 5-Year Estimates.

What is the rent-to-income ratio in ZIP 98203?

The rent-to-income ratio in ZIP 98203 is 23.6%, based on HUD Fair Market Rent divided by Census median household income. This is within the affordable range (under 30% of household income).

Seattle-Tacoma-Bellevue, WA · Washington

Snohomish County

ZIP 98203

834,648 residents3,170 permits TTM$107,982 median HHI27 ZIP codesUpdated April 16, 2026

Investor first look

Median home value

$644,600

ACS 5-Year

Cap rate proxy

4.7%

FMR × 0.65 ÷ Home Value

Rent-to-income

20.7%

HUD FMR ÷ ACS HHI

Net migration

+2.57%

IRS SOI

Permits (TTM)

3,170

Census BPS

Climate risk

97.9

FEMA NRI (0–100)

ZIP 98203

Median home value

$637,987

Gross yield

4.1%

Cap rate

4.0%

Rent gap

1.7%

Affordability

P/I: 5.9R/I: 23.6%

Section 8 detail

SAFMR: $2,160Rent: $1,866Gap: 15.8%

ZIP code breakdown27 ZIP codes

ZIP	Median home value	Rent (FMR 2BR)	Gross yield	Cap rate	Rent gap
98241	$427,616	$2,160	6.1%	5.2%	13.6%
98251	$472,265	$2,160	5.5%	4.7%	13.6%
98256	$644,600county est.	$2,160	4.0%	3.5%	13.6%
98294	$555,720	$2,160	4.7%	4.3%	7.4%
98252	$579,040	$2,160	4.5%	3.9%	13.6%

Ranked by composite score

Median home value	Rent (FMR 2BR)	Gross yield	Cap rate	Rent gap
$640,956	$2,160	4.0%	5.3%	-31.0%
$586,103	$2,330	4.8%	4.7%	1.8%
$708,201	$2,640	4.5%	4.5%	-0.8%
$551,552	$2,160	4.7%	4.2%	10.7%
$637,987	$2,160	4.1%	4.0%	1.7%
$724,268	$2,360	3.9%	4.0%	-1.1%
$1,045,641	$2,930	3.4%	3.9%	-15.9%
$653,071	$2,260	4.2%	3.8%	9.4%
$567,676	$2,160	4.6%	3.7%	18.1%
$684,759	$2,400	4.2%	3.7%	12.0%
$740,851	$2,520	4.1%	3.5%	14.4%
$644,600county est.	$2,160	4.0%	3.5%	13.6%
$834,617	$2,160	3.1%	3.2%	-3.2%
$759,806	$2,310	3.6%	3.2%	12.9%
$707,551	$2,180	3.7%	3.2%	14.4%
$794,281	$2,310	3.5%	3.2%	9.4%
$916,743	$2,560	3.4%	3.1%	6.4%
$854,990	$2,300	3.2%	3.0%	8.6%
$833,104	$2,160	3.1%	2.9%	7.1%
$992,870	$2,690	3.3%	2.8%	13.0%
$1,137,736	$3,030	3.2%	2.7%	14.1%
$1,134,751	$2,380	2.5%	2.4%	3.1%

Demographics

Owner-occupied

68.4%

Census ACS

Vacancy rate

4.9%

Census ACS

Bachelor's degree +

36.8%

Census ACS

Rent burdened

51.1%

Census ACS (>30% income)

Median age

38.4

Census ACS

Data sources

U.S. Census Bureau — American Community Survey 5-Year Estimates

U.S. Census Bureau — Building Permits Survey

U.S. Department of Housing and Urban Development — Fair Market Rents / Small Area Fair Market Rents (SAFMR)

Internal Revenue Service — Statistics of Income Migration Data

FEMA — National Risk Index

Last updated: April 16, 2026

Snohomish County

See all 27 ZIPs ranked by yield and cap rate