Location: Mason County, WA | Metro: Mason County, WA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,150 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,570 |
| 3 Bedrooms | $2,170 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,570 | $392,414 | 0.4% | F |
U.S. Census Bureau data (2024)
ZIP 98555 (Lilliwaup, WA) serves as a cash-flow anchor within a Section 8 portfolio strategy due to the significant spread between the Fair Market Rent (FMR) and the median home value in the area. The FMR for the Mason County, WA metro area in fiscal year 2026 is set at $1,350. This figure is notably lower than the median home value of $370,818, indicating that properties in this ZIP can be rented out at rates that exceed the FMR, thus providing a steady and reliable source of rental income.
The data from Zillow shows a range of property values, from smaller lots priced at $135,000 to larger, more luxurious homes priced at $1,295,000. However, the majority of listings fall within a more moderate price range, such as the $349,000 property with 2 bedrooms and 2 bathrooms. These properties can be effectively utilized under a Section 8 voucher program, ensuring that landlords receive consistent rental payments regardless of market fluctuations.
Given the relatively stable housing market and the presence of a 23.6% renter share, landlords can expect a steady demand for rental properties. Although specific data on median income and price-cut share are not available, the significant difference between FMR and median home value suggests that there is ample opportunity for positive cash flow from Section 8 tenants. This makes ZIP 98555 a dependable choice for those looking to secure long-term, stable rental income within their investment portfolio.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.