Section 8 Fair Market Rent (FMR) for ZIP 98585 - 2027

Location: Lewis County, WA | Metro: Lewis County, WA

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,000
1 Bedroom	$1,100
2 Bedrooms	$1,440
3 Bedrooms	$1,880
4 Bedrooms	$2,180
5 Bedrooms	$2,529
6 Bedrooms	$2,832
7 Bedrooms	$3,059
8 Bedrooms	$3,212

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

465

Median Household Income

$74,167

Housing Units

258

Renter Percentage

5.1%

Occupancy Rate

90.7%

Renter Occupied

The zip code 98585, located in the greater Seattle metropolitan area, is characterized by its suburban charm and proximity to urban amenities. This region offers a mix of residential tranquility and accessibility to employment centers, making it attractive for both homeowners and renters.

Fair Market Rent (FMR): The FMR for 98585 is set at $1,280 for fiscal year 2026, providing a benchmark for rental pricing in the area.
Rental Market: Specific market rent figures are currently unavailable, but the FMR serves as a reliable indicator for potential rental income.
Median Home Value: The median home value stands at $502,797, reflecting the overall housing market's strength and stability.
Renter Share: Only 5.1% of the population are renters, suggesting a predominantly owner-occupied community.
Days on Market (DOM): Data regarding the average days on market for properties is not available at this time.
Median Income: The median income for residents is $74,167, indicating a middle-class demographic that can support modest to mid-range property values.

Given the relatively low renter share and the absence of specific market rent data, investment opportunities in 98585 should be approached with caution. The Fair Market Rent figure of $1,280 provides a guideline for rental pricing, but the strong median home value suggests that the market may favor homeownership over renting. Investors should consider the area's appeal to first-time buyers and those seeking suburban living near urban conveniences. With median incomes around $74,167, there is potential for steady demand, particularly for affordable housing options. However, the lack of recent rental market data and days on market statistics limits the ability to fully assess the current dynamics and predict future trends. Overall, while the area shows promise, it is crucial to align investment strategies with the local preference for homeownership and the need for affordable housing solutions.

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.