Location: Seattle-Bellevue, WA | Metro: Seattle-Bellevue, WA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,350 |
| 1 Bedroom | $2,450 |
| 2 Bedrooms | $2,870 |
| 3 Bedrooms | $3,740 |
| 4 Bedrooms | $4,450 |
| 5 Bedrooms | $5,162 |
| 6 Bedrooms | $5,781 |
| 7 Bedrooms | $6,243 |
| 8 Bedrooms | $6,555 |
U.S. Census Bureau data (2024)
ZIP code 98072, located in Woodinville, WA, falls within the larger Seattle-Bellevue, WA HUD Metro FMR Area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $3050. This figure is higher than the typical market rent of $2,387, indicating that the area is slightly overpriced compared to what the market naturally demands.
The median home value in ZIP 98072 is $1,319,431, which suggests that it is a premium sub-market within the broader Seattle-Bellevue metro. The high home values reflect a desirable location with amenities that appeal to homeowners willing to pay a premium.
With a renter share of 27.8%, Woodinville leans towards being a predominantly homeowner-driven community. However, the relatively high renter share combined with the below-metro median home value might suggest some rental activity driven by affordability concerns, although the overall market conditions do not indicate a significant value pocket for renters.
In summary, ZIP 98072 represents a premium sub-market within the Seattle-Bellevue HUD Metro FMR Area, characterized by high home values and slightly elevated rents. While it has a notable percentage of renters, the primary market dynamics favor homeownership.
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.