Trying to figure out how much a house costs in Tacoma in 2023? You’ve come to the right place. Over the years I’ve spoken to hundreds of people moving to Tacoma from out of state or out of Pierce County. I also speak a lot with Tacomans who’ve been renting and are looking to find a house to buy in Tacoma. As soon as people get serious about looking- this is the biggest question they have.
How much does it cost to buy a house in Tacoma in 2023?
As of June 2023 the median home price in Tacoma in general is $469,000. This is less than the median for Pierce County which is currently $524,000. Compared to Seattle’s median home price of $823,000, the home prices in Tacoma and Pierce County are very appealing.
That said, for most first time buyers that number can seem really intimidating. The median price in Tacoma varies a lot by neighborhood. For example, the median home price for homes in North Tacoma is $635,000. On the Eastside of Tacoma the median is currently $438,000. That’s a big difference! You can see the difference in home prices over the past year in different parts of Tacoma below:
How much are the Stadium District or Old Town neighborhoods of Tacoma?
Tacoma’s Stadium District and Old Town Neighborhoods are some of the most expensive neighborhoods in Tacoma. They have the highest median home price. Stadium District’s median home price is about $1.1 million. Old Town’s median home price is about the same. People living in Tacoma’s Old Town and Stadium District neighborhoods love the historic homes and incredible views of Commencement Bay. Here are some examples of what you get for the money in North Tacoma neighborhoods like Stadium and Old Town for the median home price:
This house in the Stadium District was listed for $1,250,000 and sold for $1,180,000 after 31 days on the market. This house was a little over 3000 square feet with 4 bedrooms, 2 3/4 bathrooms, an ADU and a 1 car garage.
This house above Tacoma’s Old Town sold for $1,900,000 after 20 days on the market. This 6 bedroom 4 3/4 bath house is over 4,000 square feet.
This 3 bedroom 2 1/4 bathroom home is a little over 1,400 square feet and sold for $712,000 after 7 days on the market. This is an example of an affordable home in Stadium or Old Town- though the sales price is still quite a bit higher than the average price in Tacoma.
How much does it cost to buy a house in South Tacoma?
The median home price in South Tacoma is about $525,000 as of June 2023. That is a big increase since December of 2022 when it was down to $432,000. You can see what home prices in Tacoma have been doing from June 2022 to June 2023 in the chart below. South Tacoma is one of the most affordable neighborhoods in Tacoma. Homes in South Tacoma are currently on the market for about 4 days before they have an accepted offer. That’s FAST!
South Tacoma is home to historic homes and centrally located close to I-5. This makes South Tacoma popular with commuters to JBLM and north to Seattle alike. Here are some examples of what you get for the money in South Tacoma right now:
This house in South Tacoma sold for $570,000 after 6 days days on the market for $5,000 over the list price. This is the highest priced home to sell in South Tacoma in the last month. It’s a four bedroom 1 3/4 bath home just under 2,000 square feet.
At the lower end of the price spectrum for South Tacoma this house on South Lawrence sold for $360,000 after 41 days on the market. The home has three bedrooms and one bathroom.
What is the median home price on Tacoma’s Eastside?
The median home price on Tacoma’s Eastside is about $412,000. This makes the Eastside one of the most affordable areas of Tacoma. The Eastside of Tacoma includes neighborhoods like McKinley Hill, McKinley, and more.
People living on the Eastside are located most conveniently to Tacoma Dome Station where there are Sounder Commuter Trains that go north to Seattle. There are also local and greyhound bus service and Amtrak Trains that go north to Vancouver and south to California from the Tacoma Dome.Here are some examples of what you get for the money on Tacoma’s Eastside right now:
This updated 4 bedroom, 1 bath house located on a dead end street with views of Tacoma and the Port of Tacoma sold for $361,000 after 8 days on the market. The house sold for $11,000 over its list price.
At the other end of the spectrum this 6 bedroom 3 bath newer (for Tacoma!) home built in 2010 sold for full price at $595,000. This home on the Eastside sold after 4 days on the market.
What are the home prices in Central Tacoma?
The median home price in Central Tacoma is currently about $475,000. Central Tacoma is located south of 6th Ave and west of Downtown Tacoma. When you live in Central Tacoma getting to just about anywhere in town is fast and convenient. Central Tacoma has a variety of neighborhoods with historic homes. Here are some examples of what kinds of homes you can buy in Central Tacoma:
This home located on South 12th in Central Tacoma sold for$526,000 ($11,000 over list price) after 10 days on the market. The house is a 4 bedroom two bath.
On average homes in Tacoma and Pierce County are going to cost about $500,000. After dropping from their peak in June 2022 home prices in Tacoma home prices seem to have bottomed out as of December 2022. Home prices across Tacoma and Pierce County have been steadily increasing and many are once again approaching their 2022 highs. Everyone’s eyes are on interest rates. The higher the mortgage interest rates the bigger the house payments for buyers. Want to learn more about buying a house in Tacoma? Check out resources below. Looking for the best Tacoma real estate agent for you? We’d love to help. Contact us here.
More Resources for Buying a House in Tacoma:
About Move to Tacoma:
Marguerite Martin, Founder of MoveToTacoma.com is a real estate agent in Tacoma, WA . As a real estate “Matchmaker,” she specializes in connecting real estate clients to the perfect agent in Tacoma and across the country. Learn more at Meet Your Guide.