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New Car Dealers Market: ZIP 98223

Opportunity Score

58 / 100 Fair

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

Market Summary

ZIP 98223 is an urban area with low foot traffic. with a population of 46,225 and household incomes above the national median ($96,478). There are 3 new car dealers operations in ZIP 98223.

Area Profile

46,225

Population

$96,478

Median Income

+29% vs. national

Urban

Area Type

9.9/20

Foot Traffic

Very Car-Dependent

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

College-Educated: 14.3% — value-focused market, keep prices competitive.

Competition

New Car Dealers and related businesses in ZIP 98223.

New Car Dealers

Low competition — room to establish

0.6 per 10K residents

Gas Stations

2.2 per 10K residents

What this means: New Car Dealers are 23.1% of the relevant market in ZIP 98223 (3 vs. 10 related businesses). Well-established market — differentiation is non-negotiable.

Operating Costs

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

$2,390

2BR Fair Market Rent

$1,780

Median Gross Rent

$560 K

Median Home Value

Bank Branches

$930 K deposits

Tips for Starting a Ev Vs Gas Business in Washington

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.