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 98185, located in Seattle-Bellevue County, WA, presents unique challenges and opportunities for landlords and small-portfolio investors due to its incomplete data signature. While specific details such as the number of residents, percentage renting, median income, and median home value are unavailable, the Fair Market Rent (FMR) for the area provides a critical insight into the economic landscape.
The FMR for ZIP 98185, as of the fiscal year 2024, is set at $2700. This figure represents the amount that tenants with Section 8 vouchers can be expected to contribute towards rent. However, without comparative market rent data, it's challenging to assess how this FMR aligns with local rental prices. The absence of these figures suggests a need for further investigation into the local rental market to understand the financial dynamics at play.
In terms of voucher economics, landlords accepting Section 8 vouchers in ZIP 98185 can expect to receive a monthly subsidy of up to $2700. This is a significant sum that can help cover the costs of maintaining properties. Yet, the effectiveness of this subsidy depends on the actual market rent, which remains unknown based on the available data. Landlords should consider conducting a thorough analysis of nearby rental listings to determine if the FMR is reflective of current market conditions.
The data signature for ZIP 98185 reads as transitional. With key metrics such as resident count, rental percentages, median income, and home values missing, there is an indication that the area is undergoing changes that are not fully captured in the existing data. For investors, this means that while there might be untapped potential in the area, it also requires careful consideration and possibly more localized research to fully understand the risks and rewards associated with investing in this ZIP code.
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.