Location: Lewis County, WA | Metro: Lewis County, WA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,000 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,180 |
| 5 Bedrooms | $2,529 |
| 6 Bedrooms | $2,832 |
| 7 Bedrooms | $3,059 |
| 8 Bedrooms | $3,212 |
U.S. Census Bureau data (2024)
The ZIP code 98336 presents several challenges for landlords considering Section 8 investments. Firstly, tenant turnover is a significant concern due to the disparity between the market rent and the Fair Market Rent (FMR) set at $1,280 for FY 2026. This can lead to financial strain if landlords are unable to find tenants willing to pay the FMR rate, which is lower than what the market might bear.
Vacancy exposure is another issue. With no data available on the number of days on market (DOM), it's difficult to gauge how long properties might remain vacant. A prolonged period without tenants can result in lost rental income and increased costs associated with maintaining an empty property.
The risk of deferred maintenance is also present. Given the median income of $67,632, residents may struggle to afford necessary repairs and improvements, which can become the landlord's responsibility. This is especially concerning when combined with the lack of data on typical home values, making it hard to predict the overall condition of homes in the area.
However, these risks must be weighed against the high concentration of renters in the area, with a 6.9% renter share. High renter density often translates into higher demand for housing vouchers, which can provide a steady stream of tenants and help mitigate some of the financial risks associated with vacancy and turnover.
In conclusion, despite the potential for tenant turnover and vacancy exposure, the presence of a substantial renter population suggests a moderate risk for a first-time Section 8 landlord in ZIP 98336.
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.