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 Fair Market Rent (FMR) for ZIP 98127 in fiscal year 2024 is set at $2,700. This figure serves as a benchmark for assessing the rental market's potential yield. Without comparative market rent figures or home values, it's challenging to fully gauge the yield. Typically, a higher FMR suggests better rental returns if the market rent aligns closely with the FMR.
Regarding stability, the lack of specific percentages for renters, days on market, and income levels makes it difficult to provide a precise classification. Stability in a market often depends on consistent rental demand and low turnover rates, which can be inferred from the percentage of renters and days on market. Income levels also play a crucial role in determining the financial health of tenants and the overall economic stability of the area.
Based on the available information, ZIP 98127 appears to offer a promising yield due to the relatively high FMR. However, without additional data on market rents and home values, it's impossible to determine if this translates into a high-yield/low-stability flip-style market or a steady-cashflow zone. Landlords and small-portfolio investors should seek out more detailed local real estate reports to make informed decisions.
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.