Nursing Care Facilities Market: ZIP 98416
Opportunity Score
48
/ 100
Fair
Based on walkability, population density, income levels, and local business competition.
Market Summary
ZIP 98416 is an urban area with high foot traffic.
Area Profile
877
Population
Urban
Area Type
15.2/20
Foot Traffic
Very Walkable
Median Age: 20.3 —
young market, strong street food demand.
College-Educated: 1.0% —
value-focused market, keep prices competitive.
Operating Costs
Local cost levels affect space, labor, and operating expenses.
$1,990
2BR Fair Market Rent
Tips for Starting a Elder Care Business in Washington
- State licensing for assisted living takes 6-12 months and involves facility inspections, staffing plans, and background checks. Start early.
- Staffing is your #1 cost and #1 challenge. CNA turnover runs 50-75% annually in most markets. Budget for constant recruiting.
- Medicare and Medicaid reimbursement rates vary by state. Some states pay well. Others don't cover costs. Know your state's rates before committing.
- Start small. A residential care home (6-8 beds) requires far less capital than a 50-bed facility and lets you prove your model.
Quick Facts
- Area Type
- Urban
- Foot Traffic
- Very Walkable
vs. National Average
Walkability
+4.7 pts vs. national avg
Nearby Markets
98405
1.3 mi
Pop: 25,306
$80,024
Walk: 15.4
98403
1.6 mi
Pop: 8,586
$86,179
98406
2.1 mi
Pop: 23,642
$104,761
Walk: 15.5
98402
2.7 mi
Pop: 7,500
$54,712
Walk: 18.2
98407
3.2 mi
Pop: 21,210
$108,905
Walk: 14.4
98409
3.5 mi
Pop: 27,298
$71,649
Walk: 14.6
98418
3.7 mi
Pop: 10,475
$79,413
Walk: 14.4
98465
3.9 mi
Pop: 7,489
$77,083
Walk: 15.3
Check Another Market
Or estimate costs with the ElderCareCost calculator.
About This Data
Data sources
U.S. Census Bureau (ACS, ZBP) · HUD Fair Market Rents · EPA Walkability Index · USDA RUCA · IRS SOI · FDIC Summary of Deposits