Lake Tapps, WA

Very High · 177

Washington · Population 12,360 · Updated March 2026

$2,004
Median Rent / Month
$145,250
Median Income
$693,300
Median Home Value
$2,503
Owner Costs / Month

Affordability

How far your income goes in Lake Tapps

16.6%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Washington

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.5%
Sales Tax
0.92%
Property Tax Rate

Estimated Annual Costs

$24,048
Annual Rent
$0
State Income Tax
$6,378
Property Tax (est.)

Cost of Living Overview

Lake Tapps has a significantly higher cost of living than most US cities, driven largely by premium housing costs. With a cost index of 177 (where 100 equals the national median), Lake Tapps residents can expect to pay median rent of $2,004/month while earning a median household income of $145,250/year.

The median home value in Lake Tapps, WA is $693,300, with typical monthly owner costs around $2,503 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.6% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Washington has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.5% sales tax rate and 0.92% effective property tax rate, the overall tax environment helps keep costs manageable in Lake Tapps.

Frequently Asked Questions

Common questions about living costs in Lake Tapps

What is the cost of living in Lake Tapps, WA?
The cost of living index in Lake Tapps, WA is 177 (US average = 100). Median monthly rent is $2,004, median household income is $145,250/year, and the median home value is $693,300.
Is Lake Tapps, WA affordable?
No, Lake Tapps is more expensive than the national average with a cost index of 177. The rent-to-income ratio is 16.6%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Lake Tapps, WA?
The median gross rent in Lake Tapps, WA is $2,004 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $24,048.
What is the median household income in Lake Tapps?
The median household income in Lake Tapps, WA is $145,250 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Washington?
Washington has a top income tax rate of 0%, a sales tax of 6.5%, and an effective property tax rate of 0.92%. Notably, there is no state income tax.