Location: Jefferson County, WA | Metro: Clallam County, WA
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 | $1,010 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,240 |
| 3 Bedrooms | $1,720 |
| 4 Bedrooms | $2,070 |
| 5 Bedrooms | $2,401 |
| 6 Bedrooms | $2,689 |
| 7 Bedrooms | $2,904 |
| 8 Bedrooms | $3,049 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,240 | $288,006 | 0.43% | F |
| 3BR | $1,720 | $360,064 | 0.48% | F |
U.S. Census Bureau data (2024)
The potential risks for investing in Section 8 housing in ZIP code 98331 in Forks, WA, must be carefully considered. Tenant turnover can be a significant issue, especially when comparing the market rent of $872 to the Federal Market Rent (FMR) of $1,130 for FY 2026 in the metro area. This discrepancy suggests that tenants may find it difficult to afford the higher FMR, leading to increased turnover and associated costs.
Vacancy exposure is another concern due to the lack of available data on the number of days on market (DOM). Without this information, it's challenging to predict how long properties might remain vacant, which could lead to financial losses for landlords.
The deferred maintenance exposure is also notable. With a typical home value of $333,099 and a median income of $62,135, many residents may struggle to keep up with property upkeep, increasing the likelihood that landlords will face higher maintenance costs over time.
However, these risks are somewhat mitigated by the high renter share in the area, which stands at 36.5%. High renter density usually indicates a strong demand for rental properties, including those that accept Section 8 vouchers. This demand can help ensure a steady stream of tenants and reduce the risk of prolonged vacancies.
In conclusion, despite the challenges, the high renter share provides a buffer against some of the risks. Therefore, the overall risk for a first-time Section 8 landlord in ZIP 98331 is moderate.
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.