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 | $1,070 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,550 | $366,495 | 0.42% | F |
U.S. Census Bureau data (2024)
The potential risks for a first-time Section 8 landlord investing in ZIP 98267 in Marblemount, WA, must be carefully considered. The tenant turnover rate is currently unknown due to limited data, but the market rent being lower than the $1450 Fair Market Rent (FMR) for FY 2024 suggests that landlords may face challenges in attracting tenants who qualify for Section 8 vouchers. This discrepancy can lead to increased vacancy exposure, especially since the days on market (DOM) for rental properties is also not available, indicating uncertainty in how quickly units can be filled.
The typical home value in Marblemount is $214,578, which is relatively high compared to other rural areas. However, the median income is not provided, leading to concerns about deferred maintenance exposure. Landlords might find themselves responsible for maintaining homes without having a clear understanding of the financial capabilities of their tenants. High home values combined with potentially lower incomes could result in significant repair costs that are not covered by the Section 8 program, thus impacting profitability.
Despite these risks, the 50.5% renter share in Marblemount is notably high, suggesting a robust demand for rental housing. High renter density typically correlates with higher demand for Section 8 vouchers, which can provide a stable stream of tenants and reduce the likelihood of extended vacancies. The presence of a large number of renters can also help maintain a steady flow of applications, making it easier for landlords to find qualified tenants.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 98267 is moderate. While there are significant unknowns regarding tenant turnover and median income, the high renter share offers a counterbalance by ensuring a consistent demand for rental properties.
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.