Location: Bremerton-Silverdale-Port Orchard, WA | Metro: Bremerton-Silverdale-Port Orchard, WA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,370 |
| 1 Bedroom | $1,540 |
| 2 Bedrooms | $1,970 |
| 3 Bedrooms | $2,640 |
| 4 Bedrooms | $2,810 |
| 5 Bedrooms | $3,260 |
| 6 Bedrooms | $3,651 |
| 7 Bedrooms | $3,943 |
| 8 Bedrooms | $4,140 |
The analysis of ZIP code 98322, located within the Bremerton-Silverdale-Port Orchard, WA MSA metro area, provides insights into the viability of investing in rental properties. To determine if the rent math works, we compare the Fair Market Rent (FMR) set at $2050 for the fiscal year 2024 with the current market rent. However, the market rent data is currently unavailable, making it difficult to assess whether the FMR aligns with what tenants are willing to pay.
Regarding the affordability of acquisitions, the median home value in the area is also not available, which complicates the evaluation of property purchase costs relative to local values. The days on market (DOM) and the percentage of homes that have been discounted are likewise missing, preventing us from gauging how quickly properties sell and the frequency of price reductions.
Tenant demand can be assessed through the population and the percentage of renters in the area. Unfortunately, these figures are also not provided, leaving us without a clear understanding of the potential pool of tenants and their inclination to rent rather than buy.
In conclusion, while the Fair Market Rent for ZIP 98322 is established at $2050 for fiscal year 2024, critical data points such as current market rents, median home values, days on market, price-cut shares, and demographic details necessary to fully evaluate investment opportunities are currently unavailable. This lack of comprehensive information makes it impossible to definitively judge the financial feasibility of acquiring and renting out properties in this area. Further investigation is required to fill these data gaps and provide a clearer picture of the investment landscape.
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.