Location: Bremerton-Silverdale-Port Orchard, WA | Metro: Bremerton-Silverdale-Port Orchard, WA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,370 |
| 1 Bedroom | $1,540 |
| 2 Bedrooms | $1,970 |
| 3 Bedrooms | $2,640 |
| 4 Bedrooms | $2,810 |
| 5 Bedrooms | $3,260 |
| 6 Bedrooms | $3,651 |
| 7 Bedrooms | $3,943 |
| 8 Bedrooms | $4,140 |
The ZIP code 98384, located within the Bremerton-Silverdale-Port Orchard, WA MSA, is best suited as a cash-flow anchor within a Section 8 portfolio strategy. This classification is based on the significant spread between the Fair Market Rent (FMR) for the metro area, which is set at $2,030 for fiscal year 2026, and the local median home value of $478,650. Given that the FMR represents the maximum rental amount for low-income housing assistance, the disparity suggests a robust potential for positive cash flow.
A cash-flow anchor is crucial for stabilizing a portfolio's income, especially when dealing with government-subsidized tenants. In ZIP 98384, landlords can expect steady rental income that aligns with the FMR while benefiting from higher property values. This scenario allows investors to leverage the difference between the actual property value and the subsidized rent to maintain profitability.
Additionally, the median household income of $97,326 indicates a relatively affluent neighborhood, which could attract a diverse tenant pool beyond those eligible for Section 8. However, the focus here remains on the Section 8 program, where the significant gap between the FMR and the median home value ensures a reliable source of income.
While there is limited data on appreciation plays and diversifiers, the strong cash flow potential makes ZIP 98384 an ideal choice for landlords and small-portfolio investors looking to secure a stable income stream through the Section 8 program.
Data Sources: FMR data from HUD (2027).
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.