The story of this market
The typical home in ZIP 98528 sells for about $569,975, or $315 per square foot.
Prices are up +2.1% from a year ago, so sellers still have some momentum. Homes take about 27 days to sell, which is fast. HUD's fair market rent for a two-bedroom is $1,850 a month.
ZIP 98528 — Belfair
The housing market in 98528 remains stable with moderate price appreciation and consistent demand. Inventory levels are sufficient to support current sales volume, though buyers remain sensitive to interest rate fluctuations. The area's economic stability, driven by government and military employment, continues to support long-term market health.
This ZIP is ideal for families and commuters seeking a suburban lifestyle with proximity to state employment hubs. It offers a balance of affordability and access to outdoor recreation, making it attractive to those who prefer a quieter environment than the city center.
Median prices moved up 2.1% year over year.
Homes spend a median of 27 days on market with 3.8 months of supply — a fast-moving market.
15% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.1% · poverty 6.8% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 8.9%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.2%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
net influx — more people moved in than out
ZCTA 98528, Thurston County WA
ACS 2024 5-year estimates. Aggregate published statistics for this ZIP — never individual records, and never an attribute of any individual property or resident.
Crime rates in the area are generally lower than the national average, with property crime being the most frequently reported incident type. Local law enforcement maintains a stable presence, and the area is considered safer than the nearby urban centers of Olympia.
Schools serving the area are part of the North Thurston Public Schools district, which generally maintains moderate to high performance ratings. The district is well-regarded for its commitment to student resources and extracurricular programming.
The area faces moderate risks related to windstorms and occasional localized flooding in low-lying zones. Property insurance remains available, though premiums are influenced by regional wildfire risk assessments and seismic activity considerations.
Economic momentum is driven by the proximity to state government offices in Olympia and the expanding retail and logistics sectors in Lacey. Infrastructure improvements are focused on managing traffic flow along the I-5 corridor to accommodate steady residential growth.
Property taxes are assessed by Thurston County based on the annual market value of the property, with rates determined by local levies and school district requirements. There are no state-level personal income taxes in Washington, which impacts the overall tax burden for residents.
Residents primarily commute via I-5 toward Olympia, Lacey, or Joint Base Lewis-McChord. Transit options are limited, making personal vehicle ownership the standard for most commuters.
The area features access to several community parks, walking trails, and proximity to regional lakes like Hicks and Pattison. Shopping and dining amenities are concentrated along the major arterial roads within a 3-mile radius.
The rental market is characterized by moderate vacancy pressure and steady demand from military personnel and state employees. Rent growth has stabilized following a period of rapid increases, with a mix of apartment complexes and single-family rentals available.
The economy is anchored by state government employment, the military presence at Joint Base Lewis-McChord, and a growing retail sector. The industry mix is stable, with significant contributions from healthcare and education services.
The area is served by major highway corridors including I-5, which facilitates regional travel. Public transit is provided by Intercity Transit, offering bus routes connecting the area to the broader Olympia-Lacey-Tumwater metro.
Development is focused on suburban expansion and the revitalization of existing commercial corridors. Several residential subdivisions are currently in the planning or construction phase to meet housing demand.
The Thurston County Assessor's office conducts annual property valuations to ensure assessments reflect current market conditions. Property owners can appeal valuations through a formal board of equalization process.
Parcels in this area are subject to various special districts, including school districts, fire protection districts, and local utility districts for water and sewer services.
Property insurance premiums are influenced by regional hazard profiles, including wildfire and wind risks. Market health is stable, with multiple national and regional carriers providing coverage options.
Washington state continues to see net domestic migration, though the pace has moderated compared to previous years. Growth is largely driven by job opportunities in the tech and government sectors.
Washington is a non-judicial foreclosure state, allowing for a streamlined process under the Deed of Trust Act. Borrowers have specific rights to cure defaults before a trustee sale occurs.
Sellers are required to provide a comprehensive disclosure statement regarding the condition of the property, including known defects and material facts. This must be delivered to the buyer within a specified timeframe after the purchase agreement is signed.
Data retrieved from data.census.gov using ZCTA 98528 profile.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Provides extensive walking trails and picnic areas for local residents.
Popular for seasonal fishing and non-motorized boating activities.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.