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 | $1,210 |
| 2 Bedrooms | $1,580 |
| 3 Bedrooms | $2,180 |
| 4 Bedrooms | $2,330 |
| 5 Bedrooms | $2,703 |
| 6 Bedrooms | $3,027 |
| 7 Bedrooms | $3,269 |
| 8 Bedrooms | $3,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,580 | $510,685 | 0.31% | F |
| 3BR | $2,180 | $576,121 | 0.38% | F |
U.S. Census Bureau data (2024)
The ZIP code 98592, located in Shelton, WA, has a population of 2,059 residents, with 16.7% being renters. This indicates that the area is primarily dominated by homeowners rather than renters, suggesting that the demand for rental properties, particularly those catering to Section 8 tenants, is relatively low. The median household income in this region stands at $138,370, which places it well above the national average and highlights the economic affluence of the community.
The market rent for properties in this ZIP is $3,501 per month, which equates to approximately 25.3% of the median household income. This percentage is significant, indicating that even without the assistance of housing vouchers, the typical rent eats into a substantial portion of local incomes. However, when compared to the Fair Market Rent (FMR) of $1,340 (for FY 2026 in the metro area), it becomes evident that the market rent is nearly three times higher than what is considered fair by HUD standards.
Given the economic profile of the area, landlords in ZIP 98592 should expect a tenant pool that is largely comprised of individuals who can afford higher rents due to their relatively high incomes. These tenants are likely to be working professionals or families who may not necessarily qualify for Section 8 vouchers, as the median income far exceeds the eligibility thresholds for such programs. Consequently, the reliance on housing vouchers among potential tenants will be minimal, and landlords should focus on attracting and retaining tenants who can pay the higher market rates.
In summary, ZIP 98592 is not an ideal location for landlords looking to cater specifically to a heavy Section 8 tenant pool. Instead, the area presents a scenario where landlords can expect a tenant base that is capable of paying market rents that significantly exceed the HUD's FMR guidelines. This tenant profile aligns with the economic conditions of the region, characterized by a high median income and a lower percentage of renters.
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.