If you’re considering real estate investment in Western Washington, Pierce & Thurston Counties have several cities worth a close look. Below are three areas with promising metrics: median home prices, rent potentials, what keeps demand strong, and considerations to keep in mind.
1. Tacoma / Pierce County
- Median Home Price: Tacoma proper is around $460,000 (recent estimates).
Rent: Average rents vary by unit size; smaller units (1-2 bedrooms) tend to rent for $1,600–$2,000+ depending on location, condition, etc.
What Keeps Vacancy Low: Proximity to Seattle + job opportunities, good transit routes, military presence (JBLM), and steady influx of renters priced out of more expensive areas.
Pros: Strong demand, good appreciation potential.
Considerations: Entry cost is higher than more rural/outer suburbs; maintenance & property taxes can be steeper.
2. Puyallup, Pierce County
Median Home Price: As of mid-2025, the median sold price in Puyallup was approximately $560,000.
Rent: Typical rents are somewhat lower than Tacoma’s premium areas, depending on unit type. While exact city-wide median rents for all unit types are harder to pin down currently, many 2-bedroom units are in the $1,700-$2,200 range, especially in good neighborhoods. (Neighborhood condition, amenities, and condition matter).
What Keeps Vacancy Low: Puyallup offers a strong community feel, good schools, amenities, shopping (like Puyallup Fairgrounds area), and relatively easier commuting to Tacoma / Seattle regions. Also, many renters prefer it for its slightly more affordable housing with suburban conveniences.
Pros: Balanced investment—good appreciation and rental demand. Lower competition & cost than core Tacoma in many cases.
Considerations: Some pockets have newer supply which could push competition; property management & tenant expectations may be higher in more desirable neighborhoods.
3. Lacey / Thurston County
Median Home Price: Home values in Lacey tend to be lower than Pierce County's core; specific recent listings show typical homes in the mid-$400,000s to low-$500,000s, depending on size and neighborhood. (Some homes below, some above). For example, Lakewood (Pierce) was ~$514,000 in June 2025. For Thurston County / Lacey, homes are generally somewhat more affordable. Apartments.com+3Rocket Mortgage+3Realtor+3
Rent: In Lacey, the average rent for a one-bedroom apartment is about $1,648/month, two bedrooms around $1,900+, and three bedrooms can reach over $2,300+ depending on size & location. Apartments.com+1
What Keeps Vacancy Low: Lower cost of living (vs. King County / Seattle), good amenities, proximity to state government & regional employers, military families (JBLM / Lacey side), growing infrastructure. Also, new tenants are often priced out of more expensive cities and are willing to commute a bit, making Lacey attractive.
Pros: Lower barrier to entry, potentially better cash flow, strong demand from renters.
Considerations: Growth & development might lead to increasing competition; property maintenance & upkeep in older inventory may require more work.
🔍 Comparing the Three
| City | Median Home Price* | Typical Rent 2-Bedroom | Vacancy Drivers / Demand Strength |
|---|---|---|---|
| Tacoma | ~$460,000 | $1,700-$2,200+ | Proximity to Seattle, good amenities, military base, consistent demand |
| Puyallup | ~$560,000 | ~$1,700-$2,200 in nicer/neighborhood units | Good schools, suburban lifestyle, commuter access |
| Lacey | Mid-$400,000s to low-$500,000s | $1,900+ for 2-beds, higher for larger units | Lower cost, governmental & regional employment, stable tenant demand |
*Prices are approximate and can vary widely by neighborhood, property type, condition, etc.
✅ Which Area Matches Your Strategy?
If you want highest appreciation potential, Puyallup might win due to strong demand and rising prices.
If you want cash flow / lower entry cost, Lacey might be best.
If you want a middle ground with both decent appreciation and stable rent demand, Tacoma or Puyallup are solid.
🏁 Conclusion
Pierce & Thurston Counties offer multiple investment opportunities. Cities like Puyallup and Lacey are especially promising alongside Tacoma, because they balance cost, demand, and potential returns.
📌 Ready to Start Investing in Pierce & Thurston Counties?
Whether you’re eyeing Tacoma, Puyallup, or Lacey, the right property management partner can make all the difference. At Simply Home Realty, we help investors maximize rental income, reduce vacancies, and protect their properties—so you can enjoy stress-free returns.
👉 Contact us today to learn how we can simplify property management for your investment.
📞 360-870-6835 | 🌐 SimplyHomeRealty.com
