Location: Seattle-Bellevue, 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 | $3,020 |
| 5 Bedrooms | $3,503 |
| 6 Bedrooms | $3,923 |
| 7 Bedrooms | $4,237 |
| 8 Bedrooms | $4,449 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,670 | $667,289 | 0.25% | F |
| 2BR | $1,950 | $799,428 | 0.24% | F |
| 3BR | $2,570 | $955,715 | 0.27% | F |
| 4BR | $3,020 | $1,081,542 | 0.28% | F |
| 5BR | $3,503 | $1,197,149 | 0.29% | F |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) of $2210 for ZIP 98070 (Vashon, WA) in fiscal year 2024, landlords can expect to receive competitive subsidies through the Section 8 program. The Census ACS reports a market rent of $1,670, indicating that properties priced at the FMR level will likely attract tenants seeking assistance. The median home value stands at $919,215, reflecting the high-end real estate market in this area. This premium valuation supports the potential for significant investment returns, particularly when leveraging Section 8 contracts.
A 17.3% renter share suggests a moderate demand for rental units, which can be met effectively through Section 8 participation. The median income of $120,571 provides insight into the financial health of the local population, ensuring a stable tenant pool. Despite the lack of available data on days on market (DOM), the 0.2% price-cut share indicates that properties are generally well-priced and sell without needing to be discounted.
In Vashon, WA, landlords can secure steady rental income with minimal risk of vacancy or default. The gap between the FMR and market rent highlights the opportunity for landlords to charge higher rents while still being accessible to subsidized tenants. Given the strong economic indicators and the favorable subsidy rates, Section 8 participation is highly recommended for maximizing profitability and minimizing operational risks.
Verdict: Section 8 is a profitable strategy in ZIP 98070, with strong economic fundamentals supporting robust investment returns.
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.