Real Estate Investing in Everett, Washington (98203)
Should you buy in 98203 (Everett, WA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 26.2 — hard to cash-flow at these prices.
What’s happening in Everett, WA (98203)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 98203 Everett
In practical terms, ZIP 98203 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $646K median. It rewards specialists, not generalists.
The 98203 ZIP can work — but only with a tight operating hand. Remote landlords and passive investors tend to struggle here more than the underwriting suggests.
Regionally, 98203 sits on the difficult end of the WA spectrum. The a viable market for read — for disciplined operators — is that pricing reflects the difficulty.
Demographically, 98203 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
looks to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Everett:
Property Strategy for 98203
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $398,063 | $1,850 | 3.3% | +5.2% | $398,063 |
| 2BR | $467,209 | $2,160 | 3.3% | +6.6% | $233,604 |
| 3BR | $625,055 | $2,850 | 3.3% | +7.1% | $208,352 |
| 4BR | $750,973 | $3,320 | 3.2% | +7.1% | $187,743 |
| 5BR | $872,327 | — | — | +7.2% | $174,465 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 98203 Compare?
| Metric | 98203 | Everett | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $646,379 | $518,037 | N/A | $591,536 |
| 5-Year CAGR | 5.1% | 5.2% | N/A | 5.9% |
| Avg Rent | $2,055 | $1,961 | N/A | - |
| Cap Rate | 2.5% | 2.5% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98203 (Everett, WA). Anonymous, moderated, never written by AI.
Do you own or manage rentals in ZIP 98203 (Everett, WA)?
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Property managers serving Snohomish County
Manage rentals here? List your business →inTrust Property Management offers HOA Management Services in King & Snohomish Counties. summary from their website
Haven Property Management is a full-service residential management company based in Federal Way, WA, covering the Greater Puget Sound area. summary from their website
Navigate Community Management provides community management services. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $646,379 |
| Monthly Rent | $2,055 |
| Price-to-Rent | 26.2:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.8% |
| Cap Rate | 2.5% |
| 5-Year IRR | 7.6% |
📈 Home Appreciation
| 1-Year | +1.5% ▲ |
| 3-Year CAGR | +4.1% ▲ |
| 5-Year CAGR | +5.1% ▲ |
| 10-Year CAGR | +8.0% ▲ |
🏠 Rent Trends
| 1-Year | -4.9% ▼ |
| 3-Year CAGR | +0.3% ▲ |
| 5-Year CAGR | +4.1% ▲ |
The current 30-yr mortgage rate (6.5%) exceeds the estimated cap rate (2.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 98203
Population: 35,356
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 98203
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 12,483 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
Is housing expensive in Everett, WA?
Everett, WA home values average about $646K. That price point suits investors targeting rentals with $2,055/mo in monthly income.
Is vacancy a concern in Everett, WA?
Rental vacancy in Everett, WA is elevated. Investors should budget normal turnover but not chronic empty units.
Is Everett, WA a good place for real estate investing?
Everett, WA reports an investability rating of 3.0/5, with median home values near $646K and average rents around $2,055/mo. That combination puts it in the resilient tier for investor interest.
What is the best play in Everett, WA?
For Everett, WA, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
What is the tenant pool like in Everett, WA?
Expect a solid tenant pool in Everett, WA. The rental market absorbs $2,055/mo rents without meaningful friction.
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