Pierce County, Washington Housing Market Prices
Pierce County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 8% below the Washington median More expensive than 74% of counties in Washington$446,511
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Median rent 3% above the Washington median Among the 5 most expensive counties in Washington$1,805
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Pierce County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $446,511 | $485,016 | $248,835 |
| Price Trend (Annual %) | 11.2% | 10.9% | 7.5% |
| Median Gross Rent | $1,805 | $1,759 | $1,407 |
| Rent Trend (Annual %) | 6.8% | 6.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Pierce County is about 8% lower than in Washington. Rent is about 3% higher than the Washington average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Pierce County, up about 11.2% and 6.8% a year respectively. Home prices are changing faster.
Median rent in Pierce County rose about 75.5% between 2015 and 2024, from $1,029 to $1,805. Over the same span, rent in Washington rose about 73.4%.
Affordability
On average, housing unit costs 4.5 yearly household incomes in Pierce County.
Buying the median-priced home in Pierce County costs roughly 20.6 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Pierce County. The price-to-rent ratio in Washington is about 23.0.
| Metric | Pierce County | Washington Avg | US Average |
|---|---|---|---|
| Median Home Price | $446,511 | $485,016 | $248,835 |
| Median Household Income | $99,574 | $98,224 | $80,455 |
| Price-to-Income Ratio | 4.5 | 4.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Pierce County rose about 138.6%, while median household income rose about 66.7% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Pierce County | Washington Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 61.5% | 59.1% | 58.5% |
| Rental Rate | 33.5% | 33.6% | 31.2% |
| Vacancy Rate | 5.0% | 7.3% | 10.2% |
| Median Tenure (years) | 13.0 | 14.0 | 15.0 |
| Median Year Moved In | 2013 | 2012 | 2011 |
Pierce County has a homeownership rate of 61.5%, higher than the Washington average of 59.1%. Its housing vacancy rate is 5.0%, compared with 7.3% in Washington.
Housing Stock
| Metric | Pierce County | Washington Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.58 people | 2.50 people | 2.53 people |
| Median Structure Built Year | 1984 | 1983 | 1978 |
| Median Number of Rooms | 5.7 | 5.5 | 5.5 |
The typical housing unit in Pierce County was built around 1984. On average, 2.6 people live in a home with about 5.7 rooms, staying for about 13.0 years on average.
Pierce County, WA Housing Compared With Nearby Counties
Pierce County, WA is the 2nd largest of the 6 counties compared here, 929,755 residents against a local median of 276,921. Nothing separates Pierce County, WA sharply from the counties around it. Each measure below lands within 15% of the local median, close enough that the differences are within what survey sampling alone would produce.
The largest of those small differences is homeownership, 5% below the local median at 64.7% against 68.0%. Pierce County, WA has the 5th highest homeownership of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Pierce County, WA | 929,755 | $446,511 #3/6 | $1,805 #3/6 | 64.7% #5/6 |
| Lewis County, WA | 85,146 | $399,467 | $1,097 | 75.8% |
| King County, WA | 2,275,758 | $833,657 | $2,092 | 55.4% |
| Thurston County, WA | 299,046 | $427,911 | $1,736 | 67.7% |
| Kitsap County, WA | 276,921 | $617,222 | $1,821 | 70.1% |
| Cowlitz County, WA | 112,357 | $394,545 | $1,206 | 68.0% |
Frequently Asked Questions
Common questions about the housing market in Pierce County, Washington.
What is the median home price in Pierce County, Washington?
The median home price in Pierce County, Washington is $446,511, lower than the Washington average of $485,016.
What is the average home price in Pierce County, Washington?
The typical home price in Pierce County, Washington, reported as the median sale price, is $446,511. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Pierce County, Washington?
The median gross rent in Pierce County, Washington is $1,805 per month, higher than the Washington average of $1,759.
What was the median gross rent in Pierce County in 2020?
In 2020, the median gross rent in Pierce County, Washington was $1,338 per month.
What is the price-to-rent ratio in Pierce County, Washington?
The price-to-rent ratio in Pierce County, Washington is about 20.6, meaning it would take roughly 20.6 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Pierce County.
Are home prices or rent rising faster in Pierce County, Washington?
Both home prices and rent are rising in Pierce County, up about 11.2% and 6.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Pierce County, Washington?
61.5% of households in Pierce County, Washington own their home, higher than the Washington average of 59.1%.
What is the vacancy rate in Pierce County, Washington?
The housing vacancy rate in Pierce County, Washington is 5.0%, lower than the Washington average of 7.3%.
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