Location: Mason County, WA | Metro: Grays Harbor 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 | $930 |
| 1 Bedroom | $1,010 |
| 2 Bedrooms | $1,300 |
| 3 Bedrooms | $1,800 |
| 4 Bedrooms | $2,050 |
| 5 Bedrooms | $2,378 |
| 6 Bedrooms | $2,663 |
| 7 Bedrooms | $2,876 |
| 8 Bedrooms | $3,020 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,800 | $429,872 | 0.42% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 98557, located in Mason County, WA, does not work favorably for landlords. The Fair Market Rent (FMR) for the area, set at $1,140 for fiscal year 2026, exceeds the current market rent of $987 according to Census ACS data. This discrepancy suggests that landlords might struggle to charge rents that align with the government's FMR guidelines without facing resistance from potential tenants.
Acquisition of properties in this ZIP code is relatively affordable compared to many other areas. With a median home value of $385,442, purchasing homes here is within reach for most investors. However, due to limited data on the days on market (DOM) and the percentage of homes needing price cuts, it's challenging to provide a precise assessment of how quickly properties can be sold or if significant discounts will be necessary to attract buyers. This lack of detail could indicate either a stable market or a less active one, depending on broader regional trends.
Tenant demand in ZIP 98557 is modest given its small population size of 4,079. Only 13.8% of the residents are renters, which means the pool of potential tenants is relatively small. This low renter share could pose challenges for landlords looking to fill vacancies quickly, especially in a smaller market where competition among rental properties might be fierce.
In summary, while the median home value in ZIP 98557 makes property acquisition affordable, the mismatch between the FMR and the actual market rent, along with the limited tenant demand, presents significant hurdles for landlords and small-portfolio investors. The area requires careful consideration and possibly a strategic approach to manage expectations regarding rental income and occupancy rates.
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.