Section 8 Fair Market Rent (FMR) for ZIP 98419 - 2027

FY 2027 Fair Market Rent Rates

The investment risk assessment for ZIP 98419 in Unknown, WA, reveals several potential issues that landlords and small-portfolio investors should be aware of. First, tenant turnover can be problematic when comparing the N/A market rent to the $1990 Fair Market Rent (FMR) for fiscal year 2024. This discrepancy indicates that landlords might struggle to find tenants willing to pay the higher market rent, leading to frequent turnover and associated costs.

Second, the vacancy exposure is significant due to the N/A-day Days on Market (DOM), which suggests that properties may remain vacant for extended periods. This poses a financial risk as landlords will not receive rental income during these times, potentially leading to cash flow problems.

Third, there is an exposure to deferred maintenance given the N/A typical home value and N/A median income. Landlords may face challenges in maintaining properties to the standards required by the Housing Choice Voucher program, especially if the typical home value is low and residents have limited financial resources to contribute to property upkeep.

However, these risks must be weighed against the high renter density in the area, indicated by the N/A% renter share. High renter density typically translates into a greater demand for housing vouchers, which can stabilize occupancy rates and provide a steady stream of rental income. The presence of many renters also means that there is likely a strong market for affordable housing, which can benefit landlords who are willing to participate in the Section 8 program.

Verdict: Moderate risk for a first-time Section 8 landlord in ZIP 98419, Unknown, WA.

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.