Location: Longview-Kelso, WA | Metro: Longview-Kelso, WA MSA
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 | $1,060 |
| 1 Bedroom | $1,200 |
| 2 Bedrooms | $1,520 |
| 3 Bedrooms | $2,060 |
| 4 Bedrooms | $2,440 |
| 5 Bedrooms | $2,830 |
| 6 Bedrooms | $3,170 |
| 7 Bedrooms | $3,424 |
| 8 Bedrooms | $3,595 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,520 | $257,958 | 0.59% | F |
U.S. Census Bureau data (2024)
If a landlord is considering investing in ZIP code 98581 (Ryderwood, WA) for Section 8 properties, they should follow a structured decision-making process based on the following criteria:
Step 1: Clearing Debt Service with FMR
The Fair Market Rent (FMR) for ZIP 98581 in fiscal year 2024 is set at $1410. To determine if this FMR can cover the debt service on a property valued at $263,891, we need to calculate the expected monthly income against the monthly mortgage payment.
If the landlord secures a loan with an interest rate that allows the monthly mortgage payment to be less than or equal to $1410, then the answer is Yes. Otherwise, if the monthly mortgage payment exceeds $1410, the answer is No.
Step 2: Comparing Market Rent to FMR
The market rent for ZIP 98581 is listed as N/A, which means there's insufficient data to make a direct comparison between the market rent and the FMR of $1410. Therefore, the answer here is It Depends. The landlord will need to conduct further research to understand local rental trends and whether they align closely with the FMR.
Step 3: Assessing Rental Demand
The rental demand in ZIP 98581 is represented by 4.4% of the population being renters. Additionally, the Days on Market (DOM) is listed as N/A, indicating a lack of data on how quickly rental properties are typically occupied.
Given only the percentage of renters, the landlord must consider if 4.4% of the population represents a sufficient number of potential tenants. If this percentage translates into a robust tenant pool, then the answer is Yes. However, without knowing the DOM, the landlord cannot fully assess the speed at which their property might be rented out, leading to another It Depends response.
To summarize, the decision to invest in ZIP 98581 for Section 8 properties hinges on whether the FMR of $1410 can cover the monthly mortgage payment on a property valued at $263,891. The landlord must also investigate local rental trends due to the lack of market rent data and determine if 4.4% of the population being renters indicates strong demand. Without additional information on market rents and DOM, the overall investment decision remains uncertain and requires further investigation.
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.