98387 — Spanaway, WA Home Values
Typical home value $512,385 as of June 2026 · 134th of 154 in Seattle-Tacoma-Bellevue, WA
Blue: typical home value (Zillow ZHVI) in ZIP code 98387, June 2021 to June 2026. This page shows observed data only; no forecast.
How 98387 compares in the Seattle-Tacoma-Bellevue, WA area
ZIP code 98387 (Spanaway, WA) has a typical home value of $512,385 as of June 2026, ranking 134th of 154 ZIP codes tracked in the Seattle-Tacoma-Bellevue, WA area, more expensive than about 14% of ZIP codes in the metro. Prices here have moved +0.2% over the trailing 12 months. Over the past five years, the typical value in this ZIP code has changed +13.1%, from $452,917 in June 2021 to $512,385 in June 2026. Against observed rent, the typical home here sells for 15.1× the annual rent ($2,836/mo), a common way to gauge whether buying looks cheap relative to renting in this ZIP code.
Every figure above is observed Zillow data. Sialim's forecasting engine works at the metro level; see the Seattle-Tacoma-Bellevue, WA forecast for a modeled outlook, or browse the full ranked list of ZIP codes in Seattle.
Population and demographics
ZIP code 98387 has a population of 49,940, per the Census Bureau's American Community Survey 5-year estimate. By race and ethnicity: 54.1% White, 14.9% Hispanic or Latino, 10.4% two or more races, 10% Black or African American, 5.6% Asian, 4% Native Hawaiian or Pacific Islander, 0.6% American Indian or Alaska Native, and 0.4% another race.
Nearby public schools
| School | Address | Distance |
|---|---|---|
| Bethel Middle School | 22201 38th Avenue East, Spanaway, WA | 0.5 mi |
| Shining Mountain Elementary | 21615 38th Ave E, Spanaway, WA | 0.5 mi |
| Elk Plain Head Start | 22015 22nd Ave E, Spanaway, WA | 0.6 mi |
Distance is straight-line from the ZIP code's center; driving distance will be longer. School attendance is set by district boundaries, not proximity. Confirm which school a specific address is zoned for with the local school district. Source: National Center for Education Statistics.
Frequently asked questions
What is the typical home value in ZIP code 98387?
$512,385 as of June 2026, the latest month Zillow has published observed data for.
Is 98387 an expensive ZIP code in the Seattle-Tacoma-Bellevue, WA area?
98387 ranks 134th of 154 ZIP codes in the Seattle-Tacoma-Bellevue, WA area by typical home value, more expensive than about 14% of ZIP codes in the metro.
How much have home values in 98387 changed over the past year?
+0.2% over the trailing 12 months, from observed Zillow data.
Is it cheaper to buy or rent in ZIP code 98387?
The typical home price is 15.1× the observed annual rent in this ZIP code ($2,836/mo). Lower multiples favor buying over renting, all else equal.
What is the population of ZIP code 98387?
49,940, per the US Census Bureau's American Community Survey 5-year estimate.
What are the closest public schools to ZIP code 98387?
Bethel Middle School (0.5 mi), Shining Mountain Elementary (0.5 mi), Elk Plain Head Start (0.6 mi), by straight-line distance from the ZIP code's center. School attendance is set by district boundaries, not proximity. Confirm assignment with the local school district.
Is this page showing a forecast for 98387?
No. Every number on this page is observed Zillow data as of June 2026, not a forecast. Sialim's forecasting engine runs at the metro level; see the Seattle-Tacoma-Bellevue, WA forecast for a modeled outlook.
ZIP-level values shown here are observed Zillow data, not forecasts. Sialim's forecasting engine works at the metro level today; ZIP-level forecasts are planned for Sialim Pro. Data © Zillow, via Zillow Research.