The most expensive neighborhoods in Pierce County as of 2022 are Kopachuck Ridge/Horsehead Bay, Fox Island, Stadium District, Wollochet Bay, and Old Town Tacoma.
How much do homes cost in Pierce County?
The 2022 Pierce County Real Estate Market continues to be a seller’s market. Pierce County home prices rose 18% from 2021 to 2022. The most expensive neighborhoods in Pierce County have median home prices at or above a million dollars. The median home price in Pierce County in January 2022 is $525,000. The housing market is most competitive for buyers searching for homes under $650,000. Due to a low inventory of homes for sale buyers agents from across Pierce County are reporting their clients are facing multiple offers. For more information on the real estate market in Tacoma in 2022 check out “Tacoma Real Estate Market 2022.”
What makes these the most expensive neighborhoods in Pierce County?
While you’ll find homes over a million dollars in neighborhoods across Pierce County, these neighborhoods had the highest median home prices this year. What makes these areas of Pierce County so valuable to buyers? Waterfront and water views. For more info check out our list of local waterfront and waterview neighborhoods. Here are the top 5 most expensive neighborhoods in Pierce County in 2022:
Median Home Price in Kopachuck Ridge/Horsehead Bay: $1,225,000
What do folks love about this neighborhood? The water. Whether it’s low bank or high bank waterfront, bulkheaded waterfront, or your own pier or boat launch. If you’re looking for a home that provides incredible saltwater access and views homes on Horsehead Bay are a great option. Also, many of the homes have views of the Olympic Mountains and Mount Rainier. The vibe here is all about fishing, sailing, taking in sunsets, and living a slower pace of life.
To learn more check out the Neighborhood Guide to Kopachuck Ridge/Horsehead Bay.
Median Home Price on Fox Island : $1,010,000
Fox Island is quintessential northwest living. Many homes on the outer edges of the island have incredible views of Mt Rainier or the Olympics as well as the water, while homes on the inner part of the island have privacy, property, and a rural feeling. No matter where you live on the island, access to fishing, boating, or a walk on the water is available to everyone. Locals love fishing, kayaking, boating. Fox Island Yacht Club is located on the island. There’s a secret pub in the back of the local grocery store.
To learn more check out the Neighborhood Guide to Fox Island.
Median Home Price in the Stadium District: $942,500
Located just up the hill from Downtown Tacoma and perched over Commencement Bay, Tacoma’s Stadium District is in the middle of it all. Even just running errands is a lovely experience in Stadium. Stadium District residents pride themselves on their gardens and yards. Charming storefronts welcome customers in the business district. Some Stadium District homes offer spectacular views of Puget Sound, Browns Point, Vashon Island, and Commencement Bay.
Median Home Price Wollochet Bay: $908,282
Wollochet Bay has homes with hundreds of feet of salt waterfront. Folks looking for deep water moorage looking for a place to park their sailboat or yacht out front find options in Wollochet Bay. The entrance to Wollochet Bay is across from Fox Island and slices up into the heart of Gig Harbor.
Old Town Tacoma
Median Home Price in Old Town : $900,000
Old Town was the original Tacoma. Founded by Job Carr in 1865, Old Town’s historic streets and beautiful views of Commencement Bay, Browns Point, and Vashon Island are what make it one of Tacoma’s special neighborhoods. Old Town residents enjoy the local neighborhood restaurants and easy access to Ruston Way’s incredible waterfront. The tree-lined, picturesque streets and beautiful views make Old Town a destination for Tacomans who enjoy living in a connected neighborhood- just ignore the steep hills! Old Town is home to several local restaurants, coffee shops, and businesses. Old Town is very close to Ruston Way, Tacoma’s waterfront park. Great for walking, running, biking, roller skating, scootering, or driving.
To learn more check out our Neighborhood Guide to Tacoma’s Old Town.
Why is this area so expensive now?
There are a number of reasons why the cost of housing keeps going up in Pierce County, but the bottom line is housing is scarce. Whether you are planning to buy a home or rent a home there is not enough housing for the population. Here are some reasons why:
- More people keep being born. Millennials are now aged 24-40, and they are the largest generation in the country. It’s a HUGE number of people wanting to buy homes, and many of their parents and grandparents aren’t interested in selling their homes. The demand is incredible.
- People are still moving to the Pacific Northwest. Our weather is good, our politics are generally progressive, there are some huge employers, and we have great educational institutions. If you live here, I don’t have to tell you why it’s awesome. Chances are (unless you are descended from indigenous people) that you moved here too, or your parents or grandparents did.
- Our city barely builds any new housing. Compared to other cities with populations of our size we build very little new housing. In spite of the growth management act and the fact that we KNEW these people would be moving here, we just haven’t worked out how prioritize building new housing.
- We don’t insist on increasing density. Tacoma is surrounded by water by three sides and there’s no real opportunity for us to sprawl. If we’re going to increase the number of housing units in the city that is going to mean building up, and filling in the existing lots with ADUs and DADUs.
To learn some more detailed information check out our blog post, “Tacoma isn’t affordable anymore. Here’s why.”
Want to learn more about the Pierce County Real Estate Market?
The 2022 Pierce County Real Estate Market continues to be a seller’s market. Pierce County home prices rose 18% from 2021 to 2022. The median home price in Pierce County in January 2022 is $525,000. The housing market is most competitive for buyers searching for homes under $650,000. Due to a low inventory of homes for sale buyers agents from across Pierce County are reporting their clients are facing multiple offers. For more information on the real estate market in Tacoma in 2022 check out “Tacoma Real Estate Market 2022.”
Resources for buying a house in 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.