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 ZIP code 98139 is located in Seattle, WA, and is classified as a PO Box area by the US Census Bureau. As such, it lacks complete population data. However, the neighborhood surrounding this ZIP code is part of King County and is situated in the Pacific Time Zone.
Given the lack of detailed demographic data, we can focus on the economic factors relevant to Section 8 investors. The Fair Market Rent (FMR) for ZIP 98139 in fiscal year 2024 is set at $2700. This figure represents the benchmark for rental subsidies in the area and is crucial for understanding the potential income from voucher tenants.
When comparing the FMR to the typical market rent in the region, which is often higher due to Seattle's robust real estate market, it becomes clear that ZIP 98139 might not be ideal for hands-off voucher operators. The gap between FMR and market rents suggests that landlords would need to actively manage their properties to ensure profitability and occupancy rates.
In summary, ZIP 98139 is best suited for hands-on value-add buyers who are willing to invest time and resources into property management. These investors should expect to earn around $2700 per month from voucher tenants but will likely need to enhance their properties' appeal to compete with market rents.
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.