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 |
|---|---|---|---|---|
| 1BR | $1,180 | $381,448 | 0.31% | F |
| 2BR | $1,550 | $443,607 | 0.35% | F |
| 3BR | $2,160 | $569,782 | 0.38% | F |
| 4BR | $2,340 | $640,782 | 0.37% | F |
| 5BR | $2,714 | $727,356 | 0.37% | F |
U.S. Census Bureau data (2024)
38.6% of residents in ZIP 98273 (Mount Vernon, WA) are renters, indicating a significant portion of the population relies on rental housing. The $1,859 market rent (ZORI) suggests that landlords can expect to charge this amount per unit on average. However, the $1450 Fair Market Rent (FMR) set for zip FY 2024 shows that Section 8 vouchers will cover less than the market rate, leaving a gap of $409 between what the market demands and what the government subsidizes. This discrepancy could be a challenge for landlords participating in the program, as they might need to adjust their expectations regarding rental income.
The $566,456 median home value indicates a relatively stable real estate market, which could translate to steady demand for rentals as potential homeowners find it difficult to enter the market at these prices. The 0.2% price-cut share reflects a minor adjustment in asking prices, suggesting that most listings are either sold quickly or remain at their original asking price, which is positive for landlords who can maintain their rental rates without frequent adjustments.
Landlords should also consider the $76,717 median income when evaluating the financial stability of tenants. While this figure is lower than the national average, it still provides a solid basis for assessing whether prospective tenants can meet the requirements for Section 8 participation and manage their monthly expenses.
In conclusion, ZIP 98273 offers a balanced opportunity for landlords interested in Section 8 properties, with a substantial renter base and stable home values, but they must be prepared to accept lower rents than the market rate. Participation in the program is viable, given the local economic conditions and the support provided by the government subsidy.
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.