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 |
The rent math in ZIP 98417 does not provide sufficient clarity due to the lack of available market rent data. The Fair Market Rent (FMR) set at $1990 for fiscal year 2024 is the only figure provided, which does not allow for a direct comparison against actual market rates.
Regarding acquisition affordability, there is insufficient data to make a definitive analysis. The median home value, days on market (DOM), and percentage of homes that have had their prices cut are all listed as N/A, indicating a gap in the necessary metrics to assess the cost-effectiveness of acquiring properties in this area.
Tenant demand is also ambiguous without specific market data. The population and the percentage of renters in ZIP 98417 are both marked as N/A, leaving an incomplete picture of potential occupancy levels and the size of the rental market.
Verdict: Without comprehensive market data, it's challenging to definitively assess the viability of investing in ZIP 98417. The provided Fair Market Rent of $1990 for FY 2024 offers a baseline but lacks context without knowing the actual market rent. Additionally, the absence of key financial indicators such as median home values, days on market, and percentage of price cuts, along with tenant demographic data, makes it difficult to gauge both the affordability of property acquisitions and the strength of tenant demand. Investors should seek additional local market insights before making decisions.
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.