Location: Lewis County, WA | Metro: Lewis 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 | $1,020 |
| 2 Bedrooms | $1,330 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $2,020 |
| 5 Bedrooms | $2,343 |
| 6 Bedrooms | $2,624 |
| 7 Bedrooms | $2,834 |
| 8 Bedrooms | $2,976 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,730 | $577,805 | 0.3% | F |
U.S. Census Bureau data (2024)
A skeptical investor might have several concerns regarding the real estate market in ZIP 98591. Let's address these objections using the available data:
Will FMR $1,230 (metro FY 2026) cover the mortgage on a $506,557 home?
The Fair Market Rent (FMR) for ZIP 98591 is set at $1,230 per month. To determine if this will cover the mortgage, we must consider the interest rate and term of the loan. Assuming a standard 30-year fixed-rate mortgage with an interest rate of 5%, the monthly payment on a $506,557 home would be approximately $2,700. This exceeds the FMR, indicating that relying solely on FMR would not cover the mortgage.
Is there enough renter demand at 14.0%?
The rental demand in ZIP 98591 stands at 14.0%. While this percentage is relatively low compared to more densely populated areas, it suggests that there is still a modest demand for rental properties. However, the data does not provide a complete picture of the rental market's health, such as vacancy rates or the number of renters versus homeowners. To fully assess demand, further research is needed.
Will vouchers keep pace with $684 market rents?
The market rent in ZIP 98591 is $684 per month. Given that the FMR is $1,230, it's likely that voucher amounts are closer to the FMR rather than the market rent. This means that vouchers could potentially cover the cost of renting a modest property, but they may not be sufficient for all rental options. The exact amount of vouchers and their ability to keep pace with market rents would require additional data to confirm.
In summary, while there are some challenges to investing in ZIP 98591, particularly with regard to covering mortgage payments and assessing rental demand, the market still offers opportunities for those willing to do thorough due diligence. Vouchers may provide a reliable source of income, but their adequacy for covering market rents 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.