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 | $1,990 |
| 1 Bedroom | $2,230 |
| 2 Bedrooms | $2,860 |
| 3 Bedrooms | $3,830 |
| 4 Bedrooms | $4,080 |
| 5 Bedrooms | $4,733 |
| 6 Bedrooms | $5,301 |
| 7 Bedrooms | $5,725 |
| 8 Bedrooms | $6,011 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,230 | $598,371 | 0.37% | F |
| 2BR | $2,860 | $653,048 | 0.44% | F |
| 3BR | $3,830 | $713,682 | 0.54% | F |
| 4BR | $4,080 | $837,711 | 0.49% | F |
U.S. Census Bureau data (2024)
The ZIP code 98380, encompassing Seabeck in Kitsap County, Washington, stands out due to its unique demographic and economic characteristics. With a population of 5,471 residents, only 12.2% rent their homes, indicating a strong preference for homeownership among the local populace. The median household income in this area is $125,229, which is significantly higher than the national average. This prosperity is further reflected in the median home value, which sits at an impressive $708,258.
However, the rental market dynamics in Seabeck present a different picture. The Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,830, while the Census American Community Survey (ACS) indicates that the market rent is approximately $2,780. This discrepancy means that landlords who accept Section 8 vouchers in this ZIP code could face a shortfall of nearly $950 per month per unit, when compared to market rates. Given these numbers, it's clear that landlords must carefully consider the financial implications before agreeing to participate in the Section 8 program.
Evaluating the overall data signature of ZIP 98380, it reads as stable. The high median income and home values suggest a robust local economy with little indication of volatility. However, the low percentage of renters and the significant gap between FMR and market rents highlight the transitional nature of the rental market within this ZIP code. Landlords should be aware of these factors when making decisions about accepting Section 8 vouchers.
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.