Location: Tacoma, WA | Metro: Tacoma, WA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,490 |
| 1 Bedroom | $1,680 |
| 2 Bedrooms | $2,060 |
| 3 Bedrooms | $2,840 |
| 4 Bedrooms | $3,210 |
| 5 Bedrooms | $3,724 |
| 6 Bedrooms | $4,171 |
| 7 Bedrooms | $4,505 |
| 8 Bedrooms | $4,730 |
ZIP code 98411 falls within the Tacoma, WA HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 98411 is set at $1990 for fiscal year 2024. This figure represents the median gross rent for a standard-quality rental unit in the area.
Comparatively, the typical ZIP codes within the Tacoma, WA HUD Metro FMR Area have an FMR that aligns closely with the regional average. However, specific market rent and home value data for ZIP 98411 are currently unavailable. In the absence of these metrics, we can infer the relative standing of 98411 based on the FMR alone.
The FMR of $1990 suggests that ZIP 98411 could be a value pocket within the Tacoma metro. Value pockets are areas where rents are lower compared to surrounding neighborhoods, making them attractive for both tenants seeking affordable housing and landlords looking to offer competitive rates without sacrificing occupancy. Since the FMR is a key benchmark for Section 8 payments, landlords in ZIP 98411 can expect to receive a payment standard that reflects the affordability of the area.
Without concrete data on market rents and home values, it's challenging to definitively categorize 98411 as a value pocket, mid-tier neighborhood, or premium sub-market. However, the lack of a high renter share percentage indicates that the area might not be heavily populated by renters, which could mean less demand from Section 8 participants. This characteristic diverges from what typically defines a Section 8 sweet spot, where a high concentration of renters often correlates with higher demand for subsidized housing.
To make a more precise assessment, further investigation into the local rental market dynamics and home values would be necessary. Landlords and small-portfolio investors should consider these factors alongside the FMR when evaluating the potential of ZIP 98411 as part of their investment strategy within the Tacoma metro.
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.