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Sarah Mitchell
Compass Real Estate · ZIP 98503
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98503 ZIP Code Housing Market
$510,000median sale price
What is the 98503 housing market like right now?
The median home sale price in ZIP code 98503 is $510,000, up 5.6% year-over-year. Homes sell in an average of 7 days with 78 active listings. The market is currently a seller's market. (Source: Redfin monthly MLS data, as of March 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is the 98503 ZIP code a buyer's or seller's market?
ZIP code 98503 is currently a seller's market and homes selling in about 7 days. How we determine this →
What are the latest 98503 housing market stats?
| Metric | Value |
|---|---|
| Median sale price | $510,000 |
| Median list price | $515,000 |
| Year-over-year price change | +5.6% |
| Average days on market | 7 days |
| Active inventory | 78 listings |
| Sale-to-list price ratio | 101.6% |
| Market condition | Seller's market |
Source: Redfin · Updated monthly
The 98503 zip code, located in Lacey, WA, is currently classified as a seller's market. The median sale price stands at $510,000, representing a +5.6% change year over year. Homes in this area spend an average of 7 days on the market before going under contract. There are currently 78 active listings in the area, which influences how much negotiating power buyers and sellers have.
ZIP 98503 sits in the Lacey, WA area, roughly 1.4 miles from downtown Lacey. Because home prices are set street by street, this ZIP can move differently from Lacey's citywide averages. The figures below reflect 98503 specifically — drawn from Redfin transactions, U.S. Census data for its 41,656 residents, and Zillow value estimates.
Homes sold
103
Last 12 weeks
Days on market
7
Fast-moving
Active listings
78
Sale-to-list
101.6%
Above asking
What is driving the 98503 housing market?
The 98503 real estate market is shaped by a combination of local demand, housing supply, and broader economic trends. As a seller's market, homes are selling at approximately 101.6% of their listed price.
Year-over-year price trends are one of the most important indicators for both homebuyers and investors. Prices in 98503 have increased +5.6% compared to last year, suggesting continued demand and potential for further appreciation. For context, it's valuable to compare this trend against neighboring zip codes and the broader metro area to determine whether this performance is localized or part of a regional pattern.
The Zillow Home Value Index (ZHVI) for 98503 stands at $491,674, which represents Zillow's estimate of the typical home value in the area. The Zillow Observed Rent Index (ZORI) indicates typical rents of $2,031 per month. This gives a price-to-rent ratio of approximately 20.2, which indicates that renting may be more cost-effective than buying in the short term, though long-term appreciation could shift that calculus. Use our mortgage calculator to estimate monthly payments based on current home values and interest rates.
Who lives in 98503?
Population
41,656
Median income
$89,002/yr
Median age
41.1 years
Owner-occupied
58.4%
College grads
32.1%
Avg commute
22.4 min
What is it like living in 98503?
Zip code 98503 is home to approximately 41,656 residents. The median household income is $89,002 per year, which shapes the types of homes and amenities available in the area. With a median age of 41.1 years, the community's age profile influences everything from school enrollment to local business types and recreational offerings. Approximately 58.4% of housing units are owner-occupied, showing a healthy mix of homeowners and renters that contributes to a diverse community.
About 32.1% of residents hold a bachelor's degree or higher, which often correlates with access to knowledge-economy jobs and higher earning potential in the area. The average commute time is 22.4 minutes, which is close to the national average. These demographic factors, combined with the market data above, help paint a complete picture of what it's like to live and own property in 98503.
Which public schools serve ZIP 98503?
10 schools tracked · 6,352 students
The largest public schools serving ZIP code 98503 by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Timberline High School
Grades 9-12 · 1,426 students
Nisqually Middle School
Grades 6-8 · 815 students
Mountain View Elementary
Grades PK-5 · 728 students
Komachin Middle School
Grades 6-8 · 642 students
Lakes Elementary School
Grades K-5 · 500 students
Lydia Hawk Elementary
Grades K-5 · 499 students
Evergreen Forest Elementary
Grades K-5 · 479 students
Woodland Elementary
Grades PK-5 · 460 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Frequently asked questions about 98503
What is the median home price in 98503?
The current median sale price in 98503 is $510,000, based on recent Redfin transaction data. Prices have changed +5.6% compared to last year. For the most up-to-date pricing and to see how this compares to nearby areas, use our comparison tool.
Is 98503 a buyer's or seller's market?
The 98503 zip code is currently classified as a seller's market. This assessment is based on key indicators including months of supply, sale-to-list price ratios, and average days on market.
What is the population of zip code 98503?
Zip code 98503 has a population of approximately 41,656 residents. The median household income is $89,002 per year. About 58.4% of homes are owner-occupied. This data is sourced from the U.S. Census Bureau and is updated annually.
How do I research neighborhoods in 98503?
Properties Incorporated provides comprehensive data for 98503 including median home prices, price history charts, days on market, active inventory, and Census Bureau demographics. To compare this area with other zip codes or cities, use our comparison tool. For mortgage planning, our mortgage calculator estimates monthly payments based on current prices and interest rates.
How often is the data for 98503 updated?
Market data on Properties Incorporated is updated regularly as new information becomes available. Redfin sales data is typically refreshed monthly, Zillow home value and rent estimates update monthly, and Census Bureau demographics are updated annually.
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