98501 — Olympia, WA Home Values
Typical home value $555,014 as of June 2026 · 4th of 12 in Olympia-Lacey-Tumwater, WA
Blue: typical home value (Zillow ZHVI) in ZIP code 98501, June 2021 to June 2026. This page shows observed data only; no forecast.
How 98501 compares in the Olympia-Lacey-Tumwater, WA area
ZIP code 98501 (Olympia, WA) has a typical home value of $555,014 as of June 2026, ranking 4th of 12 ZIP codes tracked in the Olympia-Lacey-Tumwater, WA area, more expensive than about 75% of ZIP codes in the metro. Prices here have moved +0.4% over the trailing 12 months. Over the past five years, the typical value in this ZIP code has changed +14.3%, from $485,405 in June 2021 to $555,014 in June 2026. Against observed rent, the typical home here sells for 24.4× the annual rent ($1,893/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 Olympia-Lacey-Tumwater, WA forecast for a modeled outlook, or browse the full ranked list of ZIP codes in Olympia.
Population and demographics
ZIP code 98501 has a population of 46,937, per the Census Bureau's American Community Survey 5-year estimate. By race and ethnicity: 75% White, 9% Hispanic or Latino, 6.8% two or more races, 5.1% Asian, 2.1% Black or African American, 1.4% Native Hawaiian or Pacific Islander, 0.4% another race, and 0.3% American Indian or Alaska Native.
Nearby public schools
| School | Address | Distance |
|---|---|---|
| Washington Connections Academy - Mary M. Knight | 111 Tumwater Blvd SE, Tumwater, WA | 1.4 mi |
| Peter G Schmidt Elementary | 237 Dennis Street SE, Tumwater, WA | 1.5 mi |
| Tumwater Virtual Academy | 7299 New Market St SW Bldge E, Tumwater, WA | 1.8 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 98501?
$555,014 as of June 2026, the latest month Zillow has published observed data for.
Is 98501 an expensive ZIP code in the Olympia-Lacey-Tumwater, WA area?
98501 ranks 4th of 12 ZIP codes in the Olympia-Lacey-Tumwater, WA area by typical home value, more expensive than about 75% of ZIP codes in the metro.
How much have home values in 98501 changed over the past year?
+0.4% over the trailing 12 months, from observed Zillow data.
Is it cheaper to buy or rent in ZIP code 98501?
The typical home price is 24.4× the observed annual rent in this ZIP code ($1,893/mo). Lower multiples favor buying over renting, all else equal.
What is the population of ZIP code 98501?
46,937, per the US Census Bureau's American Community Survey 5-year estimate.
What are the closest public schools to ZIP code 98501?
Washington Connections Academy - Mary M. Knight (1.4 mi), Peter G Schmidt Elementary (1.5 mi), Tumwater Virtual Academy (1.8 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 98501?
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 Olympia-Lacey-Tumwater, 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.