Location: San Juan County, WA | Metro: San Juan County, WA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,400 |
| 1 Bedroom | $1,530 |
| 2 Bedrooms | $2,000 |
| 3 Bedrooms | $2,630 |
| 4 Bedrooms | $2,630 |
| 5 Bedrooms | $3,051 |
| 6 Bedrooms | $3,417 |
| 7 Bedrooms | $3,690 |
| 8 Bedrooms | $3,875 |
U.S. Census Bureau data (2024)
The ZIP code 98286 is situated in a suburban area of Washington state, characterized by a relatively affluent and stable community. With a total population of 155, it's evident that this is a small, tight-knit neighborhood where the majority of residents own their homes, given that only 27.6% of the population are renters. The median household income in this area stands at a robust $74,250, indicating that the residents have a good standard of living and can afford higher-end housing options. This is further supported by the median home value being an impressive $1,096,771, which places it among the higher-value neighborhoods in the region.
Turning to the economic viability for Section 8 investors, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,790. However, the specific market rent for ZIP 98286 is not available, making it challenging to compare the FMR directly with local rental rates. Despite this lack of precise local data, the high median home value suggests that rental properties in this ZIP code would also command premium rents, likely above the FMR. For investors considering Section 8 participation, the limited number of renters in the area might indicate a smaller pool of potential tenants, which could affect the demand for subsidized housing units.
Given these factors, ZIP 98286 may be more suitable for a hands-on value-add buyer rather than a hands-off voucher operator. The niche market and high property values suggest that active management and strategic improvements to properties could yield better returns compared to relying solely on government vouchers. Investors should focus on enhancing the quality and appeal of their properties to attract both Section 8 tenants and market-rate renters, leveraging the affluent nature of the area to maximize occupancy and profitability.
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.