Location: Mount Vernon-Anacortes, WA | Metro: Mount Vernon-Anacortes, WA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,230 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,770 |
| 3 Bedrooms | $2,450 |
| 4 Bedrooms | $2,740 |
| 5 Bedrooms | $3,178 |
| 6 Bedrooms | $3,559 |
| 7 Bedrooms | $3,844 |
| 8 Bedrooms | $4,036 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,350 | $318,226 | 0.42% | F |
| 2BR | $1,770 | $425,440 | 0.42% | F |
| 3BR | $2,450 | $558,468 | 0.44% | F |
| 4BR | $2,740 | $653,023 | 0.42% | F |
U.S. Census Bureau data (2024)
According to the data for ZIP 98233 in Burlington, WA, the Fair Market Rent (FMR) for zip FY 2024 is set at $1670, providing a benchmark for rental pricing. The market rent, measured by ZORI, stands at $2,115, indicating that properties are valued higher in the open market compared to government standards. With a median home value of $539,832, the area reflects a solid investment opportunity for those looking to purchase residential properties. The renter share in the region is 40.6%, suggesting a significant portion of the population opts for renting rather than owning. This trend is supported by the median income figure of $87,614, which may influence residents' decision-making when it comes to housing. Notably, the day DOM (days on market) is listed as N/A, implying that there might be limited data available regarding how long properties typically remain unsold before they are purchased. Furthermore, the price-cut share of 0.2% reveals that very few listings require price reductions, a sign of a robust and stable market. Given these factors, landlords and small-portfolio investors can expect strong demand for rental properties, with potential for steady returns. The disparity between the FMR and ZORI also presents an opportunity for maximizing rental income while remaining within legal limits.
Investing in ZIP 98233, Burlington, WA, for Section 8 purposes requires careful consideration of the rental rates versus the fair market values. While the $1670 FMR is lower than the $2,115 market rent, the high renter share and median home value suggest a viable market for both rental and ownership investments. However, the 0.2% price-cut share indicates that competition for Section 8 contracts may be fierce, given the reluctance of sellers to reduce their asking prices. In conclusion, the overall market stability and demand make ZIP 98233 a suitable location for Section 8 investments, but investors should be prepared to navigate a competitive landscape.
Verdict: ZIP 98233 offers a stable market for Section 8 investments, with strong demand and competitive pricing.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.