Location: Bremerton-Silverdale-Port Orchard, 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 | $1,600 |
| 1 Bedroom | $1,800 |
| 2 Bedrooms | $2,300 |
| 3 Bedrooms | $3,080 |
| 4 Bedrooms | $3,280 |
| 5 Bedrooms | $3,805 |
| 6 Bedrooms | $4,262 |
| 7 Bedrooms | $4,603 |
| 8 Bedrooms | $4,833 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,300 | $456,048 | 0.5% | F |
| 3BR | $3,080 | $563,129 | 0.55% | F |
| 4BR | $3,280 | $680,532 | 0.48% | F |
| 5BR | $3,805 | $772,793 | 0.49% | F |
U.S. Census Bureau data (2024)
The ZIP code 98383, located in Silverdale, WA, has a population of 21,604 individuals, with 43.5% being renters. This indicates that it is a moderately renter-heavy area, though not overwhelmingly so. The median household income in this ZIP code stands at $111,139, which provides a baseline for assessing the affordability of housing.
The market rent for the area is $1,945 per month, which represents approximately 21% of the median household income. This suggests that while the rent is not excessively high relative to income, it still constitutes a significant portion of monthly earnings. The Fair Market Rent (FMR) for the ZIP code, as determined by HUD for FY 2024, is $2,350, indicating that the actual market rent is below this benchmark, potentially making it more attractive to tenants seeking affordable housing options.
The percentage of renters who might rely on Section 8 vouchers is influenced by the overall rental rate compared to the FMR and the median income level. In 98383, the lower market rent compared to the FMR could mean that there is a reasonable demand for vouchers, but given the relatively high median income, the reliance on vouchers may be less pronounced than in areas with lower incomes. However, the substantial number of renters (about 9,400 people based on the 43.5% figure) means that there is still a considerable potential for Section 8 tenants.
A landlord in this area can expect a mix of tenants, including those who might benefit from Section 8 vouchers due to the balance between rental rates and income levels. Given the income context, tenants who qualify for Section 8 assistance would likely have other sources of income, such as part-time employment or additional benefits, allowing them to meet their housing obligations. The combination of a moderate rental market and a substantial renter population makes 98383 a viable location for landlords considering Section 8 tenants.
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.