Once again, I’ve run the numbers on the most expensive and most affordable neighborhoods in Tacoma and Pierce County!
From 2019 to 2020, Pierce County saw a 15% increase of the median home sale price. We ended 2020 with Pierce County’s median sold price at $439,000, up from $375,000 the previous year. We simply do not have enough affordable housing in Pierce County right now, and demand continues to increase as more and more people move to the region.
On my website MovetoTacoma.com, I recently blogged about the most affordable neighborhoods and the most expensive neighborhoods in Tacoma and Pierce County in 2020. Every year, I run the numbers for each neighborhood to see how each neighborhood’s median home price fits into the larger picture. (Something to keep in mind is that I “hand draw” the neighborhood boundaries before I run the numbers, meaning that the numbers I share are different from what you’ll find for the “area” codes assigned by the MLS. In my experience the numbers are much more useful this way.)
Here are links to each of my new Move to Tacoma blog posts, and a couple of quick takeaways from each one:
Neighborhoods with Affordable Homes
It’s important to first call out the fact that “affordable” means something different to everyone. In the case of these 2 blog posts, “affordable” refers to the neighborhoods with the least expensive median home sold price in 2020.
The most affordable neighborhoods in Pierce County are Parkland, Spanaway, Frederickson, Lakewood, and the area around Elbe/Ashford. Each of these neighborhoods have median home prices well below Pierce County’s overall median home price of $439,000. Click here to see the median home price for each neighborhood, as well as how many days it takes for homes to go pending (hint: it’s very quick).
The most affordable neighborhoods in Tacoma are currently Downtown Tacoma, South Tacoma, the South End, Hilltop, and East Tacoma. The more affordable a home is in Tacoma right now, the more competition there is for it. To view the median home sale price for each of these neighborhoods (and how quickly the homes sell), click here.
Neighborhoods with the Most Expensive Homes
For these 2 blog posts, “expensive” refers to the neighborhoods with the highest median home prices.
The most expensive neighborhoods in Pierce County are Wollochet Bay (Gig Harbor), Stadium District (Tacoma), Kopachuck Ridge/Horsehead Bay (Gig Harbor), Reid Road (Gig Harbor), and Fox Island. Click here to find out the median home price for each neighborhood and how long it typically takes homes to go pending.
Update April 2021: So far 112 homes over $1,000,000 have sold in Pierce County. The most expensive was a $3,450,000 French Chateau style mansion that sold in 6 days for cash. To learn more check out, “Million Dollar Home Sales in Pierce County 2021” on the Get Real Tacoma Blog.
The most expensive neighborhoods in Tacoma are the Stadium District, Three Bridges, Old Town, Proctor, and Tacoma’s West Slope. Median home prices of different neighborhoods in Tacoma can vary greatly by just a couple miles, and each neighborhood really does have its own unique character. To view the most expensive Tacoma neighborhoods of 2020 and how much it costs to buy a home in each one, click here.