Location: Bremerton-Silverdale-Port Orchard, WA | Metro: Bremerton-Silverdale-Port Orchard, WA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,300 |
| 1 Bedroom | $1,450 |
| 2 Bedrooms | $1,860 |
| 3 Bedrooms | $2,490 |
| 4 Bedrooms | $2,650 |
| 5 Bedrooms | $3,074 |
| 6 Bedrooms | $3,443 |
| 7 Bedrooms | $3,718 |
| 8 Bedrooms | $3,904 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 98310, Bremerton, WA, is set at $1730 for fiscal year 2024. This figure represents the payment standard for Section 8 housing vouchers, which means that if you participate in the program, you will receive up to $1730 per month from the government to cover the rent for eligible tenants.
In comparison, the local median asking rent, known as the Zillow Observed Rental Index (ZORI), is currently $1,812. This indicates that the FMR is slightly below the typical market rate, but still provides a reasonable income for landlords participating in the program.
The 48.9% renter share in Bremerton suggests strong demand for rental properties. With nearly half of the population renting, there's a significant pool of potential tenants who could benefit from Section 8 vouchers. This high demand can help ensure your property remains occupied, reducing vacancy rates and providing steady income.
Acquiring a rental property in Bremerton costs approximately $460,126. While this initial investment might seem substantial, it can be offset by the long-term benefits of consistent government-subsidized income through the Section 8 program.
Before deciding to participate in Section 8 with your first rental property, verify that your property meets the Housing Quality Standards (HQS). These standards ensure that the home is safe, decent, and sanitary for tenants. A property inspection will confirm compliance and prevent delays in securing tenants.
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.