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Remodelers Market: ZIP 98516

Opportunity Score

67 / 100 Good

Based on walkability, population density, income levels, and local business competition.

Market Summary

ZIP 98516 is an urban area with moderate foot traffic. with a population of 28,286 and household incomes above the national median ($92,191). There are 11 remodelers operations in ZIP 98516.

Area Profile

28,286

Population

$92,191

Median Income

+24% vs. national

Urban

Area Type

11.3/20

Foot Traffic

Walkable

Median Age: 38.9 — mixed-age market, broad menu appeal.

College-Educated: 25.9% — balanced market for quality & value.

Competition

Remodelers and related businesses in ZIP 98516.

Remodelers

Moderate — proven market

3.9 per 10K residents

HVAC Contractors

1.8 per 10K residents

What this means: Remodelers are 68.8% of the relevant market in ZIP 98516 (11 vs. 5 related businesses). Well-established market — differentiation is non-negotiable.

Operating Costs

Local cost levels affect space, labor, and operating expenses.

$2,190

2BR Fair Market Rent

$1,948

Median Gross Rent

$530 K

Median Home Value

Bank Branches

$440 K deposits

Tips for Starting a Home Remodeling Business in Washington

Get your contractor's license and insurance before your first job. Operating without them is illegal in most states and one lawsuit ends you.
Kitchen and bathroom remodels have the highest margins. Whole-home renovations sound bigger but the complexity eats your profit.
Your first 10 jobs come from personal network and referrals. Don't spend on ads until you have 5-star reviews to back them up.
Material costs swing 15-30% year over year. Quote projects with current supplier pricing, not last year's numbers.