Location: Seattle-Bellevue, WA | Metro: Seattle-Bellevue, WA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,950 |
| 1 Bedroom | $2,040 |
| 2 Bedrooms | $2,380 |
| 3 Bedrooms | $3,100 |
| 4 Bedrooms | $3,690 |
| 5 Bedrooms | $4,280 |
| 6 Bedrooms | $4,794 |
| 7 Bedrooms | $5,178 |
| 8 Bedrooms | $5,437 |
The ZIP code 98287 in Unknown, WA, stands out due to limited data availability, which presents both challenges and opportunities for landlords and small-portfolio investors. The area lacks detailed statistics on the number of residents, the percentage of renters, median income, and median home value, making it difficult to paint a comprehensive picture of the local housing market.
However, the Federal Market Rent (FMR) for ZIP 98287 has been established at $2420 for fiscal year 2024. This figure represents the maximum amount that landlords can receive through the Section 8 Housing Choice Voucher program for a unit in this ZIP code. Despite the absence of specific market rent data, the FMR provides a benchmark for rental rates, ensuring that landlords are compensated fairly for units occupied by tenants receiving vouchers.
The lack of detailed demographic and economic data means that landlords must rely on broader regional trends to inform their investment decisions. For instance, the Seattle-Bellevue metropolitan area generally experiences robust demand for rental properties, driven by strong employment growth and an influx of new residents. However, without precise figures for ZIP 98287, landlords should exercise caution and consider conducting thorough market research before making any significant investments.
In conclusion, the data signature for ZIP 98287 reads as transitional. The absence of key metrics suggests that the area may be undergoing changes, possibly due to recent development or shifts in population dynamics. Landlords and investors should monitor the evolving landscape closely, leveraging the known FMR to guide their rental pricing strategies while remaining vigilant for emerging trends that could impact the local housing market.
Data Sources: FMR data from HUD (2027).
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.