Location: Mount Vernon-Anacortes, WA | Metro: Bellingham, 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 | $1,320 |
| 1 Bedroom | $1,350 |
| 2 Bedrooms | $1,620 |
| 3 Bedrooms | $2,250 |
| 4 Bedrooms | $2,710 |
| 5 Bedrooms | $3,144 |
| 6 Bedrooms | $3,521 |
| 7 Bedrooms | $3,803 |
| 8 Bedrooms | $3,993 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,350 | $232,288 | 0.58% | F |
| 2BR | $1,620 | $356,763 | 0.45% | F |
| 3BR | $2,250 | $494,927 | 0.45% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 98237, which includes Concrete, WA, is set at $1680 for fiscal year 2024. This figure represents the payment standard for Section 8 housing vouchers, meaning it's the maximum amount the government will pay towards a tenant's rent. It's important to note that this isn't the actual rent you would charge; it's the ceiling for government contribution.
In comparison, the average rent for the area is listed at $845 according to the latest Census American Community Survey (ACS) data. This indicates that the FMR is significantly higher than the typical market rate, potentially offering a better financial return for landlords who participate in the Section 8 program.
With 19.9% of the population being renters, there is a steady demand for rental properties. This percentage suggests that nearly one in five residents are looking for places to rent, creating a consistent pool of potential tenants for your property.
When acquiring a property in ZIP 98237, the median home value is around $253,924. This figure can help you assess the initial investment required to enter the market as a landlord. However, the long-term viability of a Section 8 rental property depends on several factors, including maintenance costs, vacancy rates, and the overall condition of the housing market.
Before committing to a Section 8 rental, verify that your property meets the Housing Quality Standards (HQS). These standards ensure that the home is safe, decent, and sanitary for tenants. Failure to meet these requirements could result in disqualification from the program, so it's crucial to check compliance to avoid any issues.
Participating in the Section 8 program can be a lucrative opportunity for landlords and small-portfolio investors in Concrete, WA, given the favorable FMR compared to the local average rent. The established demand for rentals and the relatively affordable acquisition costs make it an attractive option. Just remember to confirm that your property meets the necessary HQS to ensure eligibility and smooth operation within the program.
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.