Location: Seattle-Bellevue, WA | Metro: Seattle-Bellevue, WA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,130 |
| 1 Bedroom | $2,220 |
| 2 Bedrooms | $2,600 |
| 3 Bedrooms | $3,390 |
| 4 Bedrooms | $4,030 |
| 5 Bedrooms | $4,675 |
| 6 Bedrooms | $5,236 |
| 7 Bedrooms | $5,655 |
| 8 Bedrooms | $5,938 |
The ZIP code 98064 in King County, Washington, is characterized by limited available data, making it distinct due to the scarcity of information regarding its resident population, rental percentage, median income, and median home value. This lack of comprehensive data points can be challenging when assessing the overall economic health and stability of the area.
Despite these gaps, the Fair Market Rent (FMR) for the ZIP code 98064 is set at $2700 for the fiscal year 2024. This figure represents the benchmark used by the U.S. Department of Housing and Urban Development (HUD) for determining the maximum rent that landlords can charge tenants participating in the Section 8 program. Without specific market rent data, it's difficult to compare the FMR to the actual rental prices in the area, but landlords should note that the FMR serves as a guideline for rent subsidies.
Given the limited data available, the economic landscape of ZIP 98064 appears transitional. The absence of key metrics such as median income and home values suggests that the area might be undergoing changes that could affect both the housing market and the demand for rental properties. Landlords and small-portfolio investors should monitor local trends closely and consider diversifying their investment strategies to accommodate potential shifts in the market.
To make informed decisions, it is advisable to conduct further research into the specific neighborhoods within ZIP 98064, as well as consult with local real estate professionals who can provide insights into the current state of the rental market. Additionally, understanding the demographic makeup of the area and the availability of Section 8 vouchers can help landlords determine the feasibility of accepting Section 8 tenants.
Data Sources: FMR data from HUD (2027).
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.