Location: Pacific County, WA | Metro: Grays Harbor County, WA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,160 |
| 1 Bedroom | $1,300 |
| 2 Bedrooms | $1,670 |
| 3 Bedrooms | $2,310 |
| 4 Bedrooms | $2,640 |
| 5 Bedrooms | $3,062 |
| 6 Bedrooms | $3,429 |
| 7 Bedrooms | $3,703 |
| 8 Bedrooms | $3,888 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 98537 reveals a unique balance between yield potential and market stability. On the yield axis, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 stands at $1,400, which is notably higher than the market rent of $974. This indicates that properties in this ZIP code could benefit from the Section 8 program, where the government pays the difference between the market rent and the FMR. For instance, if a landlord rents a property for $974, the government would subsidize the remaining $426 to reach the FMR of $1,400. Given the median home value of $325,713, the rental income from Section 8 can provide a significant return on investment.
Regarding stability, the data shows that only 15.0% of residents are renters, suggesting a relatively stable population with a majority of homeowners. However, the lack of available data on days on market (DOM) makes it challenging to assess the speed of property turnover. The average household income of $79,459 suggests financial stability among residents, but the low percentage of renters implies limited demand for rental properties overall. This combination points towards a market that is not highly volatile but also does not offer the same level of liquidity found in areas with a higher percentage of renters.
In conclusion, ZIP 98537 is best classified as a steady-cashflow zone. While the yield potential is strong due to the disparity between the market rent and the FMR, the stability metrics indicate a slower-moving market with fewer rental turnovers. Landlords and small-portfolio investors should expect consistent returns but must be prepared for less frequent property transactions.
Data Sources: FMR data from HUD (2027). 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.