Section 8 Fair Market Rent (FMR) for ZIP 98071 - 2027

FY 2027 Fair Market Rent Rates

The zip code 98071, located in Washington state, offers a unique opportunity for real estate investors interested in the Section 8 housing market. This area is characterized by its specific financial metrics that can influence investment decisions.

• The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $2700, providing a benchmark for rental pricing.
• Market rent data is currently unavailable for this zip code, which suggests a less competitive market or limited data on private rentals.
• The median home value is also not available, indicating that there might be a scarcity of sales data or a predominantly rental-focused community.
• The percentage of the population that rents is unknown, but it's a critical figure for understanding the demand for rental properties.
• The Days on Market (DOM) data is not available, which would typically indicate how quickly homes are rented out in this area.
• The median income for the area is not available, which is essential for gauging the economic health and potential tenant pool.

In summary, while the zip code 98071 has a clearly defined Fair Market Rent of $2700, the lack of other key data points such as market rent, median home values, renter share, DOM, and median income makes it challenging to provide a comprehensive analysis. However, the absence of competitive market rent data could suggest a niche market where Section 8 properties stand out, offering a stable source of income for investors willing to navigate the uncertainties presented by the limited data availability.

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.