Location: Seattle-Bellevue, WA | Metro: Seattle-Bellevue, WA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,390 |
| 1 Bedroom | $2,490 |
| 2 Bedrooms | $2,910 |
| 3 Bedrooms | $3,800 |
| 4 Bedrooms | $4,520 |
| 5 Bedrooms | $5,243 |
| 6 Bedrooms | $5,872 |
| 7 Bedrooms | $6,342 |
| 8 Bedrooms | $6,659 |
U.S. Census Bureau data (2024)
The ZIP code 98025 is located in Washington state. To profile this area as a Section 8 tenant pool, we must first analyze the available demographic data. The population of 98025 is 52,000, though there's no specific percentage of renters or median household income reported. This makes it challenging to determine whether the area is renter-heavy or dominated by homeowners.
Despite the lack of precise income data, we can still compare the market rent to the Fair Market Rent (FMR) set by HUD for the fiscal year 2024. The FMR for ZIP 98025 is $2,700. Without the exact median household income, we cannot calculate the precise percentage of local income that goes toward rent. However, it's important to note that tenants participating in the Section 8 program typically have an income that is 30% or less of the Area Median Income (AMI), which would make their rent burden significantly higher relative to their income.
In areas where the FMR is set at $2,700, landlords can expect a tenant pool that includes individuals and families who rely on Section 8 vouchers to afford housing. These tenants often face strict income limits and are likely to be from low-income backgrounds. Landlords should anticipate that their tenants will require assistance with rent payments through the voucher system, ensuring that they maintain compliance with HUD regulations and provide quality living conditions to remain eligible for the program.
The scarcity of detailed income figures means that landlords must be cautious about relying solely on voucher income to cover their costs. They should consider the potential for additional income sources or the possibility of offering units that cater to both voucher holders and those who might pay slightly above voucher rates. This strategy can help mitigate the risks associated with income volatility among Section 8 participants.
A landlord in ZIP 98025 should expect a tenant base that is financially constrained, requiring careful management and adherence to the Section 8 guidelines. While the exact percentage of voucher usage cannot be determined without more data, the presence of a substantial number of low-income residents suggests a significant demand for affordable housing options supported by the Section 8 program.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.