Pierce County Multifamily Buyer
Sell Your Commercial Property In Pierce County, WA
Pierce County centers on Tacoma and the Port of Tacoma and includes Joint Base Lewis-McChord, which shapes rental demand in Lakewood and nearby communities. Rental housing here is heavy on older garden complexes and small walk-ups, with newer mid-rise infill around downtown Tacoma.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Cities We Cover: Tacoma · Puyallup · University Place · Auburn · Lakewood — County seat: Tacoma
Pierce County
Where We Buy In Pierce County
We evaluate apartment buildings of 5+ units across Pierce County — in each city below, plus smaller towns and unincorporated areas countywide.
Local Market Data
Pierce County Apartment Market
Figures gathered October 2026 from public market data.
If you plan to sell commercial property in Pierce County, WA, start with the size of the renter base. Pierce County holds 123,930 renter households, a 35.3% share of all occupied homes, per the Census Bureau's 2020-2024 American Community Survey. Tacoma alone counts 44.2% renters, and Lakewood's renter share reaches 52.5%, the highest of the five cities tracked here.
Apartment buildings carry much of that demand. Some 67,380 Pierce County housing units, 18.2% of the stock, sit in buildings with five or more units. Median gross rent reached $1,806, up 44.5% from the 2015-2019 survey. Rental vacancy stands at 4.1%, so buyers price lease-up risk carefully. Rents and vacancy also shift from one Pierce County city to the next, so the right offer for a Tacoma building can differ sharply from one in Lakewood.
A 930,000-person county
Pierce County grew 6.1% to 930,319 residents between the 2015-2019 and 2020-2024 Census surveys, adding 53,306 people.Rents up 44.5% in five years
Median gross rent in Pierce County rose from $1,250 to $1,806, a 44.5% gain, per the 2020-2024 American Community Survey.A growing apartment stock
Pierce County counts 67,380 units in buildings of five or more units, up 12.6% from 59,819 in the 2015-2019 survey.Who rents in Pierce County
Renters head 123,930 of the 351,330 occupied households in Pierce County, a 35.3% share in the 2020-2024 ACS. Owner households outnumber them, at 227,400. Tacoma holds the largest renter pool among the county's cities, with a 44.2% renter share and median rent of $1,676.
Across the county, that renter base occupies 123,930 of 351,330 occupied homes, leaving 227,400 owner households spread among the remaining units.
Lakewood runs the highest renter share in the comparison table, at 52.5% of households. Puyallup and Auburn sit closer to the Pierce County average, at 47.9% and 39.4%. University Place, at 42.8%, and Tacoma round out the five cities tracked here for Pierce County.
Rents, growth and affordability in Pierce County
Pierce County's median gross rent climbed 44.5%, from $1,250 to $1,806, between the 2015-2019 and 2020-2024 American Community Survey periods. Population grew far more slowly, up 6.1% to 930,319 residents, adding 53,306 people.
Renter households barely moved, up just 1.2% to 123,930. Units in buildings of five or more apartments grew faster, rising 12.6% to 67,380 units, an increase of 7,561 units. Employment in Pierce County rose 7.8% to 441,749 workers over the same span.
Affordability is strained in Pierce County. In the 2020-2024 ACS, 53.0% of renters paid 30% or more of income on gross rent. HUD's FY2027 two-bedroom Fair Market Rent for the Tacoma, WA HUD area is $2,064, effective October 1, 2026, running $258 above the county's median gross rent.
City-by-city comparison
Lakewood posts the highest share of units in 5+ unit buildings among the five Pierce County cities tracked here, at 32.2%, alongside the highest rental vacancy rate, 6.7%. Puyallup sits at the other extreme, with just 1.9% rental vacancy despite a 28.7% apartment share matching Tacoma's.
| City | Median gross rent | Renter share | Share of units in 5+ buildings | Rental vacancy |
|---|---|---|---|---|
| Tacoma | $1,676 | 44.2% | 28.7% | 3.9% |
| Puyallup | $1,812 | 47.9% | 28.7% | 1.9% |
| University Place | $1,762 | 42.8% | 26.4% | 3.0% |
| Auburn | $1,786 | 39.4% | 25.7% | 4.0% |
| Lakewood | $1,525 | 52.5% | 32.2% | 6.7% |
Puyallup carries the highest median rent among these five Pierce County cities, at $1,812, just above Auburn's $1,786 and University Place's $1,762. Lakewood's $1,525 median rent is the lowest of the group, even with its larger renter share.
Vacancy spreads widely across Pierce County. Puyallup's 1.9% rate signals a tight market, while Lakewood's 6.7% gives tenants, and buyers, more room to negotiate. Tacoma's 3.9% rate sits closer to the county's own 4.1% rental vacancy figure.
Property taxes and assessment in Pierce County
Pierce County assessors value apartment buildings, like all real property, at 100% of true and fair market value under RCW 84.40.030. Washington caps the annual growth of a taxing district's total regular levy at 1% under RCW 84.55.010, excluding new construction, which restrains rate increases even as assessed values climb.
A sale in Pierce County can still move the following year's assessed value, since the assessor reviews market activity when setting value. Washington also levies a real estate excise tax under RCW 82.45 on apartment-building sales, at graduated state rates near 1.1% to 3.0% depending on price tier, plus a local component, with no exemption for commercial or multifamily deals.
What this means if you sell in Pierce County
When you sell commercial property in Pierce County, WA, you sell into a market where 35.3% of households rent and 18.2% of housing units sit in 5+ unit buildings. The county's 4.1% rental vacancy rate is tight by national standards, and buyers will weigh that against your current occupancy.
Washington's statewide rent stabilization law, effective 2025, caps most annual rent increases at 7% plus CPI or 10%, whichever is lower, under the just-cause framework in RCW 59.18.650. Buyers in Pierce County underwrite future rent growth against that cap, not just trailing rent history.
As a multifamily buyer in Pierce County, we review 5+ unit buildings from Tacoma to Lakewood as they stand today. Send a current rent roll, a T-12 and your latest tax statement, and we will price the building on those numbers.
Pierce County's mix of a tight 4.1% vacancy rate and a fast-rising median rent gives sellers of 5+ unit buildings a reasonable window to transact before the next assessment cycle resets value.
Local Knowledge
Selling Multifamily In Washington
What we factor into every Pierce County offer:
More about Washington →- Pull the Pierce County assessor's valuation; apartment buildings are assessed at 100% of market value.
- Check Washington's 2025 rent stabilization cap before projecting future rent growth on any unit.
- Confirm rental vacancy by building; Pierce County averages 4.1% but ranges from 1.9% to 6.7% by city.
- Have deposit records ready; Washington requires an itemized return within 21 days of move-out.
Property Tax
Property Tax In Pierce County For Apartment Owners
Homeowners in Pierce County pay a median of $4,770 a year in property tax on a median home value of $526,600, an effective rate of about 0.91%, according to the Census Bureau’s 2020-2024 American Community Survey. That is above the Washington statewide average of 0.75%.
How property tax works in Washington: classes, assessment and appeals →Estimate a building’s tax bill with the property tax calculator →
- Those figures describe owner-occupied homes. An apartment building can be assessed on a different basis or in a different class, so its bill as a share of value may differ.
- A sale can reset the assessed value. Before you price a Pierce County building, check how Washington reassesses property after a transfer and model the buyer’s new tax bill.
- Pull the actual tax bill from the Pierce County assessor or tax collector. City, school and special-district levies stack on top of the county rate.
Seller Guides
Selling A Building In Pierce County
Learn More
Taxes & Rules For Pierce County Property
The Washington rules that shape any deal in Pierce County: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Our Buy Box
What We Buy In Pierce County
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
How Selling To Us Works
- 01
Submit The Deal
Send the address, unit count, asking price, and a rent roll or T-12 if you have them.
- 02
Initial Review
We review it against our buy box and give clear feedback — typically within 48 hours.
- 03
Underwriting & LOI
If it fits, we underwrite in detail and submit a written letter of intent.
- 04
Diligence & Close
Inspections and financing on the agreed timeline, then a professional, predictable closing.
Pierce County Seller FAQ
How high is rental vacancy in Pierce County?
Rental vacancy in Pierce County was 4.1% in the Census Bureau's 2020-2024 American Community Survey. Within the county's cities, Puyallup sat at just 1.9% while Lakewood reached 6.7%. Buyers typically weigh a building's own occupancy history against those local rates before making an offer.
How much have rents risen in Pierce County?
Median gross rent in Pierce County rose from $1,250 in the 2015-2019 survey to $1,806 in 2020-2024, a 44.5% gain. Population grew only 6.1% over the same period. HUD's FY2027 two-bedroom Fair Market Rent for the Tacoma area is $2,064.
Does Pierce County have rent control?
Pierce County follows Washington's statewide rent stabilization law, effective 2025, which caps most annual increases at 7% plus CPI or 10%, whichever is lower. Local rent-control ordinances remain barred under RCW 35.21.830, so the state cap governs rents across Pierce County's cities.
What should I know about selling an apartment building in Pierce County?
Before selling an apartment building in Pierce County, gather a current rent roll, trailing 12-month financials and the latest tax statement. Pierce County assesses real property at 100% of market value, and a sale price can influence the following year's assessment.
How do I sell commercial property in Pierce County, WA?
Send the address, unit count, and any financials. We review Pierce County apartment buildings of 5+ units, give feedback typically within 48 hours, and follow with a written letter of intent if it fits.
Do you buy apartment buildings throughout Pierce County?
Yes. We evaluate multifamily properties across Pierce County, including Tacoma, Puyallup, University Place, Auburn, and Lakewood, as well as smaller towns and unincorporated areas. Every property is reviewed on its own fundamentals.
What size Pierce County properties do you buy?
Apartment buildings and income-producing residential properties with 5 or more units. Our sweet spot is 15–25 units, and we review larger communities with capital partners.
Will you buy a property that needs work or has high vacancy?
Yes. We underwrite value-add, mismanaged, and distressed properties as they are today — no repairs or lease-up required before selling.
Who buys occupied rental property in Pierce County?
We do. Skyline Capital Investments is a commercial real estate buyer of 5+ unit multifamily, and we buy apartment buildings with tenants in place, including properties with below-market rents.
Do I need a broker to sell my apartment building in Pierce County?
No. You can work with us directly, or your broker can bring the deal to us. Either way, conversations stay confidential.
How do property taxes factor into a Pierce County offer?
Property is assessed at the county level (the county seat is Tacoma), within Washington rules. Washington assesses property annually at market value, and the state’s graduated real estate excise tax applies at sale. We model both the post-sale property tax and transaction costs when we prepare an offer.
Submit A Deal
Have A Property In Pierce County?
Tell us about it. Owners, agents, brokers, and deal finders are all welcome — conversations are confidential.
