Location: Kittitas County, WA | Metro: Seattle-Bellevue, WA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,620 |
| 1 Bedroom | $1,670 |
| 2 Bedrooms | $1,950 |
| 3 Bedrooms | $2,570 |
| 4 Bedrooms | $2,990 |
| 5 Bedrooms | $3,468 |
| 6 Bedrooms | $3,884 |
| 7 Bedrooms | $4,195 |
| 8 Bedrooms | $4,405 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,950 | $806,234 | 0.24% | F |
| 3BR | $2,570 | $1,097,155 | 0.23% | F |
U.S. Census Bureau data (2024)
2440 is the Fair Market Rent (FMR) for ZIP code 98068 in Snoqualmie Pass, Washington, for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for a Section 8 voucher in the area. In comparison, the market rent reported by the Census Bureau's American Community Survey stands at 1148, indicating that properties under Section 8 are priced significantly higher than the average rental market. The median home value in the region is 849,501, which suggests a relatively affluent neighborhood where owning property is more common than renting. Indeed, only 16.6% of the population are renters, highlighting the dominance of homeownership in this ZIP code. With a median income of 100,096, residents have the financial capacity to afford both higher rents and home values. However, the lack of available data on days on market (DOM) and the mere 0.1% of listings that require price cuts point towards a stable market with little need for aggressive pricing strategies. Given these factors, landlords and small-portfolio investors should consider the higher FMR as an opportunity to maximize returns while still being mindful of the local market dynamics. For those interested in Section 8 participation, the area presents a favorable environment due to the discrepancy between FMR and market rent. Verdict: Suitable for Section 8 investment.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.