Location: San Juan County, WA | Metro: San Juan County, WA
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 | $1,850 |
| 1 Bedroom | $2,030 |
| 2 Bedrooms | $2,660 |
| 3 Bedrooms | $3,480 |
| 4 Bedrooms | $3,500 |
| 5 Bedrooms | $4,060 |
| 6 Bedrooms | $4,547 |
| 7 Bedrooms | $4,911 |
| 8 Bedrooms | $5,157 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,660 | $930,234 | 0.29% | F |
U.S. Census Bureau data (2024)
The ZIP code 98279, located in Olga, Washington, stands out due to its unique characteristics within San Juan County. With only 680 residents, it has a small community feel, where 30.1% of the population rents their homes. The median income here is $70,417, which is relatively high considering the rural setting. This ZIP code also boasts a median home value of $935,332, reflecting the premium real estate market typical of island communities in Washington.
Moving into the specifics of Section 8 housing, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $2,340. However, the actual market rent, according to Census ACS data, is $2,101. This discrepancy means that landlords who accept Section 8 vouchers can potentially receive higher rental payments compared to the current market rates. The gap between the FMR and the market rent indicates an opportunity for landlords to benefit financially from participating in the Section 8 program.
The data signature for ZIP 98279 suggests a stable environment. Despite the relatively high median home values and median income, the percentage of renters is moderate, indicating a balanced mix of homeowners and tenants. The slight increase in FMR over market rent also points towards a stable market, where the government's rental assistance is slightly above what tenants might typically pay. This stability is favorable for both landlords and small-portfolio investors looking to enter or maintain a presence in the Olga, WA, market.
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.