Location: Mason County, WA | Metro: Bremerton-Silverdale-Port Orchard, 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 | $1,310 |
| 1 Bedroom | $1,470 |
| 2 Bedrooms | $1,880 |
| 3 Bedrooms | $2,520 |
| 4 Bedrooms | $2,680 |
| 5 Bedrooms | $3,109 |
| 6 Bedrooms | $3,482 |
| 7 Bedrooms | $3,761 |
| 8 Bedrooms | $3,949 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,470 | $321,507 | 0.46% | F |
| 2BR | $1,880 | $379,825 | 0.49% | F |
| 3BR | $2,520 | $514,963 | 0.49% | F |
| 4BR | $2,680 | $615,499 | 0.44% | F |
| 5BR | $3,109 | $668,697 | 0.46% | F |
U.S. Census Bureau data (2024)
The classification of ZIP 98312 (Bremerton, WA) on the yield and stability axes reveals a balanced investment opportunity. On the yield axis, the Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,920, while the market rent stands at $2,029. This indicates a modest premium over the FMR, which is typical and suggests a reasonable rental income potential. The median home value of $497,749 provides context for the overall cost of entry into the market.
On the stability axis, the market appears fairly stable. With 36.5% of residents being renters, there is a substantial demand for rental properties. The low Days on Market (DOM) figure of 9 days suggests that rental units are quickly occupied, reducing the risk of vacancy. Additionally, the median household income of $90,449 supports the ability of tenants to pay rent consistently.
To summarize, ZIP 98312 leans towards a steady-cashflow zone rather than a high-yield/low-stability flip-style market. The slightly higher market rent compared to the FMR ($2,029 vs $1,920) and the relatively low DOM (9 days) indicate a market where rental properties can generate reliable income without excessive risk. The significant portion of renters (36.5%) ensures a consistent demand for rental units, further supporting the stability of the 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.