Housing market/Washington/ZIP 98516
ZIP 98516 Olympia, Washington
Olympia-Lacey-Tumwater, WA MSA · Washington. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.
ZIP brief
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HUD schedule, ACS stock, and the 90–110% band for ZIP 98516 · WA — sent to you.
ZIP 98516 · WA
ACS rent vs 2BR SAFMR
ZIP 98516 — Olympia, WA HUD Section 8 Payment Standards / SAFMR →ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.
Housing stock
ACS 2023 units-in-structure · ZCTA 98516
- 1-unit detached7,79267.3%
- 1-unit attached6245.4%
- 2–4 units6075.2%
- 5–49 units1,18010.2%
- 50+ units6895.9%
- Mobile6895.9%
2–4 unit share 5.2% · 5–49 unit share 10.2% · combined 2–49 15.4%.
Units by bedrooms
Rent burden
- ACS median gross rent $1,948 (all bedrooms, occupied rentals).
- Median contract rent $1,811.
- Renters paying ≥30% of income 60.3%; ≥50% 31.2%.
- FY2027 2BR SAFMR $2,280 (1.170× ACS median gross rent).
Population
28,286 residents · ACS 2023
Change versus the 2018 ACS 5-year estimate: +15.3%.
ACS 5-year estimates lag current construction. This is not a forecast.
Assisted inventory
- LIHTC: 1 projects, 228 units.
- HUD project-based assisted MF: not published for this ZIP.
- HCV household counts (Picture of Subsidized Households) are not on this page yet.
New apartment permits
About 908 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.
Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.
What the data shows
ZIP 98516 32.3% of occupied households are renters; vacancy is 4.3%; ACS median gross rent is $1,948; population increased +15.3% between the 2018 and 2023 ACS vintages; the housing stock includes 607 units in 2–4-unit structures and 1,180 units in 5–49-unit structures; 1 LIHTC projects totaling 228 units; FY2027 2BR SAFMR is $2,280 versus ACS median gross rent of $1,948. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.
Washington research
ZIP 98516 is a Census / HUD profile for Olympia-Lacey-Tumwater, WA. Not a listing page. Brokerage is Georgia; out-of-state work is referral.
ZIP 98516 — Olympia, WA HUD Section 8 Payment Standards / SAFMR·Washington ZIP directory
Nearby ZIPs in this FMR area
Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Washington research. Brokerage is Georgia.
FAQ
What is the housing market like in ZIP 98516?
ZIP 98516 (Olympia-Lacey-Tumwater, WA MSA) has 28,286 residents, 11,104 households, a renter share of 32.3%, median household income of $92,191, and ACS 2023 median gross rent of $1,948. Vacancy is 4.3%. These are ZCTA estimates, not a property rent roll.
How much small multifamily housing is in 98516?
ACS counts 238 units in 2-unit buildings, 369 in 3–4 unit buildings, 432 in 5–9, 450 in 10–19, and 298 in 20–49. Combined 2–49 unit stock is 1,787 units. This is occupied-and-vacant stock, not listings for sale.
What is the Section 8 rent in 98516?
The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $2,280. See the full schedule and 90–110% payment-standard band on the ZIP 98516 — Olympia, WA HUD Section 8 Payment Standards / SAFMR.
Does this Washington ZIP profile include Georgia listings?
No. ZIP 98516 is Census / HUD research for Olympia-Lacey-Tumwater, WA MSA. Jeff Crowe CRE does not list Washington property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.