Location: Tacoma, WA | Metro: Tacoma, WA HUD Metro FMR Area
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 | $1,930 |
| 1 Bedroom | $2,180 |
| 2 Bedrooms | $2,670 |
| 3 Bedrooms | $3,690 |
| 4 Bedrooms | $4,160 |
| 5 Bedrooms | $4,826 |
| 6 Bedrooms | $5,405 |
| 7 Bedrooms | $5,837 |
| 8 Bedrooms | $6,129 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,670 | $455,780 | 0.59% | F |
| 3BR | $3,690 | $527,888 | 0.7% | D |
| 4BR | $4,160 | $604,610 | 0.69% | D |
| 5BR | $4,826 | $637,342 | 0.76% | D |
U.S. Census Bureau data (2024)
Orting, WA, located in ZIP code 98360, is a residential community with a total population of 15,045. The area has a relatively low percentage of renters at 11.1%, indicating that it is primarily a homeowner's market. Despite this, the median household income stands at a robust $125,842, which suggests that residents have disposable income for various amenities and services. The median home value in the area is $560,390, reflecting the overall economic strength and desirability of the location.
The rental economics in Orting present an interesting opportunity. The Fair Market Rent (FMR) for ZIP 98360 as of fiscal year 2024 is set at $2,420, while the market rent according to the Census ACS is slightly lower at $2,231. This indicates that the FMR provides a buffer above market rates, potentially offering a reliable income stream for landlords participating in the Section 8 program.
Given these figures, ZIP 98360 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the higher FMR compared to the market rent ensures a steady and predictable income without the need for extensive property management. On the other hand, hands-on investors can leverage the strong local economy to enhance property values through improvements, knowing that there is a solid demand for affordable housing supported by the Section 8 program.
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.