Tacoma at a glance
- Population: 222,906, the 3rd-largest community in Washington out of 281 (US Census Bureau, Vintage 2023).
- 2020 Census base: 219,185 residents (US Census Bureau, 2020 Census).
- 2020 to 2023 change: population rose about 1.7% (US Census Bureau Vintage 2023 estimate vs 2020 Census).
- Rank among Washington places: the 3rd-largest of 281 (US Census Bureau, 2023 estimate).
- Size percentile: roughly 99% of Washington's places have fewer residents (US Census Bureau).
- Coordinates: 47.2522 / -122.4598, per the US Census Bureau Gazetteer.
- Nearest larger cities within 120 miles: Seattle, WA (26 mi); Portland, OR (119 mi) (US Census Bureau).
- Nearest smaller communities: Fircrest, WA (3 mi); Ruston, WA (4 mi); University Place, WA (5 mi) (Census populations).
What a personal loan costs in Tacoma
A personal loan hands you a single sum and a repayment schedule of equal monthly installments over an agreed term.
Judge an offer by its APR, which blends the interest rate with fees, and use the personal loan calculator to see the total cost.
A longer repayment period spreads the cost and increases the interest paid, so compare total cost, not just the monthly figure.
A useful rule is to keep the new payment inside the room your budget already has, so the loan eases pressure instead of adding to it.
Washington lending rules that apply in Tacoma
Where a figure is not published by the state, the row points to the source instead of guessing.
| Rule | Detail | Source |
|---|---|---|
| State lending regulator | Washington State Department of Financial Institutions (DFI) Source says: DFI licenses and regulates financial institutions and service providers in Washington. | Washington State Department of Financial Institutions (DFI) as of 2026-09-16 |
| Maximum legal interest rate (usury cap) | 12% per annum, or four points above the Federal Reserve bill rate, whichever is higher (RCW 19.52.020) Source says: any rate of interest shall be legal so long as the rate of interest does not exceed the higher of: (a) Twelve percent per annum | Washington State Legislature (RCW) as of 2026-09-16 |
| Payday lending status | Licensed; small loans capped at $700 or 30% of monthly income, max 45 days, fees 15% on first $500 and 10% above (RCW 31.45) Source says: Payday lenders must be licensed by DFI — including online lenders that do business with Washington residents. | Washington State Department of Financial Institutions (DFI) as of 2026-09-16 |
| Small-loan / installment lender licensing | Consumer Loan Company license required (Consumer Loan Act, RCW 31.04.035) Source says: No person may engage in any activity subject to this chapter without first obtaining and maintaining a license in accordance with this chapter. | Washington State Legislature (RCW) as of 2026-09-16 |
How to compare offers in Tacoma
Run through this list before signing anything in Tacoma:
- Pull your free credit reports and dispute any error — it is the cheapest way to improve the rate you are offered.
- Run your figures through the personal loan calculator on this site so you know the payment before a lender quotes one.
- Pre-qualify with at least three lenders and compare the APR, not the interest rate.
- Check that the lender is licensed in Washington using the regulator named above.
- Read the disclosure for origination fees and any prepayment penalty before you sign.