Rental numbers for Thurston County, WA
The typical home here runs -$1,954 a month at 7.78% with 25% down. 0 of 8 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 4.6%.
- Gross yield
- 4.8%
- typical home, Zillow
- Median ZIP yield
- 4.6%
- 8 ZIPs with full data
- Cash flow
- -$1,954/mo
- at 7.78%, 25% down
- Typical price
- $525,000
- Zillow ZHVI, Aug 2026
- Typical rent
- $2,080/mo
- Zillow ZORI, Aug 2026
ZIP codes in Thurston County
12 with published figures
| 98530Bucoda | $312,000 | $1,660* | 6.4% | 3.3% | -$817 | n/a |
| 98597Yelm | $483,000 | $2,301 | 5.7% | 2.9% | -$1,434 | +11.1% |
| 98513Olympia | $503,000 | $2,348 | 5.6% | 2.7% | -$1,571 | +2.5% |
| 98503Lacey | $483,000 | $2,044 | 5.1% | 2.3% | -$1,668 | +2.1% |
| 98506Olympia | $541,000 | $2,100 | 4.7% | 1.9% | -$2,075 | +3.9% |
| 98516Lacey | $575,000 | $2,171 | 4.5% | 1.8% | -$2,209 | -0.1% |
| 98512Olympia | $550,000 | $2,065 | 4.5% | 1.7% | -$2,178 | +2.4% |
| 98501Olympia | $545,000 | $1,924 | 4.2% | 1.6% | -$2,235 | +2.0% |
| 98502Olympia | $572,000 | $1,948 | 4.1% | 1.4% | -$2,402 | n/a |
| 98589Tenino | $513,000 | $1,660* | 3.9% | 1.3% | -$2,193 | n/a |
| 98576Rainier | $516,000 | $1,660* | 3.9% | 1.3% | -$2,208 | n/a |
| 98579Rochester | $516,000 | $1,660* | 3.9% | 1.3% | -$2,214 | n/a |
* HUD Fair Market Rent, 2 bedroom, where Zillow publishes no rent index. Conservative.
Trends
Five years to August 2026
- Price, 12 months
- +0.3%
- Rent, 12 months
- +1.8%
- Rent minus price growth
- +1.5 pts
- Property tax
- 0.88%
- effective rate, ACS 2024
Show the numbers
| Month | Typical value | Rent |
|---|---|---|
| Aug 2021 | $469,988 | $1,732 |
| Aug 2022 | $525,493 | $1,880 |
| Aug 2023 | $504,841 | $1,911 |
| Aug 2024 | $523,145 | $1,965 |
| Aug 2025 | $523,489 | $2,043 |
| Aug 2026 | $524,886 | $2,080 |
HUD Fair Market Rent
FY2027, Olympia-Lacey-Tumwater, WA MSA
| Bedrooms | Studio | 1 bed | 2 bed | 3 bed | 4 bed |
|---|---|---|---|---|---|
| Fair Market Rent | $1,586 | $1,656 | $1,946 | $2,541 | $3,141 |
The 40th percentile gross rent for a standard unit, set by HUD each October and used for Section 8 payment standards. It runs below market rent; Zillow's index is shown above where it exists.
Supply
- Permits per 1,000 households
- 14.7
- 1,752 units, last 12 months
- National percentile
- 83th
- among US counties
Tools
Test a listing in Thurston County against today's rate.
Open the calculatorPart of the Olympia, WA metro.
Questions
- Is Thurston County good for rental property?
- The typical home here runs -$1,954 a month at 7.78% with 25% down. 0 of 8 ZIP codes with full Zillow data in this county are cash-flow positive; the median gross yield is 4.6%. The figures use a typical home, 7.78% with 25% down and default costs shown on each ZIP page. They describe the market, not any one property.
- What is the property tax rate in Thurston County?
- About 0.88% of value, from Census ACS median taxes paid over median home value. On a $525,000 home that is about $4,598 a year.
- What is Fair Market Rent in Thurston County?
- HUD's FY2027 Fair Market Rent here is $1,656 for a 1-bedroom, $1,946 for a 2-bedroom and $2,541 for a 3-bedroom. Typical cash flow at today's rate is -$1,954 a month.
Sources and method
- Zillow Home Value Index (ZHVI), mid tier, smoothed and seasonally adjusted
Zillow Research. Read: 2026-08.
Typical home value by ZIP, county, metro and state, and the price trend.
- Zillow Observed Rent Index (ZORI), all homes plus multifamily, smoothed
Zillow Research. Read: 2026-08.
Typical market rent by ZIP, county and metro, and the rent trend (tier A pages).
- HUD Small Area Fair Market Rents, FY2026
US Department of Housing and Urban Development. Read: FY2026.
Rent by bedroom count for every ZIP. The rent used on tier B pages, and a reference on all pages. It is the 40th percentile gross rent, so it runs below market.
- HUD Fair Market Rents by county, FY2027
US Department of Housing and Urban Development. Read: FY2027.
County rent by bedroom count on county pages.
- American Community Survey 5-year estimates, 2020 to 2024 (B25103 median real estate taxes paid, B25077 median home value, B11001 households)
US Census Bureau. Read: 2020 to 2024.
Effective property tax rate (median taxes paid divided by median value) by ZIP code tabulation area, county and state; households for the permits ratio.
- Freddie Mac Primary Mortgage Market Survey, 30-year fixed (FRED series MORTGAGE30US)
Freddie Mac via the Federal Reserve Bank of St. Louis. Read: 2026-09-24.
The weekly 30-year rate. The site adds a disclosed investor premium to it for the loan payment.
- Building Permits Survey, county monthly files
US Census Bureau. Read: 2025-09 to 2026-08.
New housing units permitted in the last 12 months per 1,000 households, a supply-pressure signal.
Data: Zillow Research (ZHVI, ZORI), HUD, US Census Bureau, Freddie Mac. Every formula is on the methodology page.
Estimates from public data for a typical property. Not investment, tax or legal advice. Your property, financing and costs will differ.