Home › ZIP 98116

New Car Dealers Market: ZIP 98116

Opportunity Score

91 / 100 Excellent

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

Market Summary

ZIP 98116 is an urban area with moderate foot traffic. with a population of 28,091 and household incomes well above the national median ($130,504).

28,091

Population

$130,504

Median Income

+75% vs. national

Urban

Area Type

14.2/20

Foot Traffic

Very Car-Dependent

Median Age: 40.5 — older demographic, may prefer sit-down options.

College-Educated: 54.6% — strong appetite for artisan/specialty food.

New Car Dealers and related businesses in ZIP 98116.

Gas Stations

1.4 per 10K residents

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

$2,680

2BR Fair Market Rent

$2,033

Median Gross Rent

$920 K

Median Home Value

Bank Branches

$1.5 M deposits

EV inventory allocation from manufacturers is tied to your state's ZEV mandate status. Dealers in ZEV states get more inventory. Period.
Charging infrastructure in your area determines EV demand. Check PlugShare for the local charging density before stocking inventory.
Used EV margins are volatile. Battery degradation concerns suppress resale values unpredictably. Factor in extended warranty costs.
Service revenue per EV is 30-40% lower than gas vehicles. Fewer parts, fewer oil changes. Your service department model needs adjusting.
The median income here is $130,504. That gives you pricing room most markets don't offer. Don't underprice.