Location: Mount Vernon-Anacortes, WA | Metro: Mount Vernon-Anacortes, WA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,090 |
| 1 Bedroom | $1,190 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $2,160 |
| 4 Bedrooms | $2,400 |
| 5 Bedrooms | $2,784 |
| 6 Bedrooms | $3,118 |
| 7 Bedrooms | $3,367 |
| 8 Bedrooms | $3,535 |
U.S. Census Bureau data (2024)
The ZIP code 98235, located within the Mount Vernon-Anacortes, WA MSA metro area, presents a unique set of challenges and opportunities for Section 8 investors. The HUD Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1680 per month. However, the lack of available market rent data makes it difficult to provide a precise comparison between FMR and market rates. Based on the provided FMR, voucher tenants would generally cashflow at the FMR rate, though the absence of market rent data means we cannot definitively state the margin of profitability.
The median home value in ZIP 98235 is also not available, which hinders our ability to calculate an exact rent-to-price ratio. This ratio is crucial for understanding the broader rent-versus-buy dynamics in the area, and without it, we can only infer that the local housing market might be stable, given the reliance on voucher programs. Typically, a lower rent-to-price ratio indicates a more favorable environment for buyers, while a higher ratio suggests better opportunities for rental investors.
Regarding the days on market (DOM) and price-cut share, the data is unavailable. These metrics are important indicators of how quickly properties sell and the frequency of price reductions, which can impact both the stability and potential appreciation of real estate investments. Without these figures, we must rely on other factors such as the consistent demand for affordable housing and the reliability of Section 8 vouchers to support investment decisions.
The strongest angle for Section 8 investors in ZIP 98235 is likely to be cashflow. Given the fixed nature of Section 8 rents, investors can plan their finances around a steady income stream, provided they manage their expenses effectively. The predictability of cashflow is particularly attractive in a market where other economic indicators are unclear.
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.