Location: Mount Vernon-Anacortes, WA | Metro: Mount Vernon-Anacortes, WA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,070 |
| 1 Bedroom | $1,180 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $2,160 |
| 4 Bedrooms | $2,340 |
| 5 Bedrooms | $2,714 |
| 6 Bedrooms | $3,040 |
| 7 Bedrooms | $3,283 |
| 8 Bedrooms | $3,447 |
U.S. Census Bureau data (2024)
ZIP code 98238 is a renter-heavy area with 100.0% of residents renting their homes. This indicates a strong potential for Section 8 tenants, as there is a high concentration of individuals who rely on rental housing. The lack of median household income data makes it challenging to directly assess the financial capabilities of the tenants. However, the absence of homeowners suggests that many residents may have lower incomes, which would align well with the requirements for Section 8 vouchers.
The Fair Market Rent (FMR) for ZIP 98238 is set at $1450 per month for FY 2024. While we do not have specific market rent figures for comparison, the FMR provides a benchmark for what is considered affordable for low-income households. Given that 100.0% of residents are renters, it is reasonable to assume that typical rents in the area are below or around the FMR level, making them accessible to those receiving Section 8 assistance.
A landlord in ZIP 98238 can expect a tenant pool that heavily relies on government housing subsidies. Tenants will likely be screened based on their ability to meet income eligibility criteria for Section 8, ensuring they can afford the rent with their vouchers. These tenants are often families with children, elderly individuals, or those with disabilities who require stable, affordable housing solutions.
To summarize, ZIP 98238 presents an opportunity for landlords interested in serving a population with high demand for Section 8 vouchers. The area's characteristics suggest a tenant base that is financially dependent on housing assistance programs, making properties priced near or at the FMR highly attractive. Landlords should prepare for long-term, stable tenancies with tenants who value secure and affordable living spaces.
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.