ZIP 98402 (Tacoma, WA) Housing Market Update — February 23, 2026

ZIP 98402 (Tacoma, Pierce County) continues to look like a market where sellers can still get strong prices on the right home, but buyers have more time to negotiate as days-on-market run longer.

Top takeaways

Recent closed-sale data shows prices up year-over-year, but homes are taking longer to sell.
Active inventory looks steady at roughly the mid-teens on major portals, with a condo-heavy mix.
Mortgage rates are still hovering around the low 6% range, shaping affordability and monthly payments.
Tacoma is taking public input on 2026 code updates that could affect housing options and future development.

Market snapshot (latest available ZIP-level indicators)

Redfin’s ZIP 98402 housing-market tracker shows a median sale price around $450K in the most recent month shown (December 2025), up year-over-year, while median days on market ran about 108 days and was higher than last year. That combination often signals a market where well-positioned homes can still command a premium, but overpriced listings may sit and require price reductions or concessions.

Realtor.com’s ZIP dashboard also points to a slower selling tempo (longer marketing times) and highlights a sizable rental pool for the ZIP, with a reported median rent level in the low-to-mid $2K range. Note: portal stats can differ because each site may use different samples, timing, and property-type mixes, especially in condo-heavy areas.

What’s for sale nearby (no addresses)

Current for-sale search results for 98402 show about a dozen-plus active listings, with many appearing to be condos and loft-style units near downtown/waterfront corridors. Pricing visible on major portals ranges from the mid-$200Ks for smaller one-bedroom units up through seven figures for larger, view-oriented homes. If you’re shopping, it’s a good moment to compare HOA dues, parking/storage, and building reserve health across similar condo communities.

Development and zoning watch

The City of Tacoma recently announced opportunities for community input on proposed 2026 amendments to the Comprehensive Plan and Land Use Regulatory Code. A virtual informational meeting is scheduled later this week, followed by a Planning Commission public hearing in early March, with a written-comment deadline shortly after. If you care about ADUs, missing-middle housing, parking rules, or process changes for new builds, this is a high-leverage moment to weigh in.

Mortgage-rate pulse

Freddie Mac’s weekly survey has kept the 30-year fixed rate near the low 6% range in February. Even small rate moves can change buying power, so it’s worth re-running payment scenarios if you’re actively touring homes.

ServiceXTC local pros

ServiceXTC directory note: no confirmed local provider pages were returned for ZIP 98402 during this update cycle. If you’re a local pro serving 98402 (inspection, roofing, electrical, plumbing, HVAC, remodeling), getting listed can help residents planning transactions and repairs.

What are you seeing in 98402 right now — more price cuts, more bidding, or more rentals coming available?

Sources

Redfin ZIP 98402 housing market (trend metrics)
Zillow ZIP 98402 for-sale search (active listing count and visible price range)
Realtor.com ZIP 98402 market overview (inventory/rent indicators)
Freddie Mac PMMS archive (weekly mortgage-rate survey)
City of Tacoma: 2026 land use code and comp plan amendment public input notice