Section 8 Fair Market Rent (FMR) for ZIP 98593 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,020
1 Bedroom	$1,120
2 Bedrooms	$1,470
3 Bedrooms	$1,920
4 Bedrooms	$2,230
5 Bedrooms	$2,587
6 Bedrooms	$2,897
7 Bedrooms	$3,129
8 Bedrooms	$3,285

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,541

Median Household Income

$84,244

Housing Units

630

Renter Percentage

7.4%

Occupancy Rate

97.1%

Renter Occupied

ZIP code 98593, located in the state of Washington, is a suburban area that offers a mix of residential and rural landscapes. The region is characterized by its affordability compared to larger urban centers in the state, making it an attractive option for both tenants and investors.

The Fair Market Rent (FMR) for ZIP 98593 in fiscal year 2024 is set at $1,270, providing a benchmark for rental pricing that landlords should aim to meet or slightly exceed to remain competitive.
The average market rent based on Census American Community Survey (ACS) data stands at $1,191, indicating that the actual rents are slightly below the FMR, offering a potential opportunity for modest increases without deterring tenants.
The median home value in the area is $350,998, which is relatively low compared to other parts of Washington, making property acquisition more feasible for investors.
Renters make up 7.4% of the housing market in ZIP 98593, suggesting a smaller pool of potential tenants but also lower competition among landlords.
The median income for residents is $84,244, which is above the national average and indicates that tenants in this area have a higher capacity to pay rent, reducing the risk of delinquency.
The days on market (DOM) for rental properties is listed as N/A, which could imply that rentals are typically filled quickly or that there isn't sufficient data to provide an accurate figure.

In summary, ZIP 98593 presents a balanced market for real estate investment, particularly in rentals. With the Fair Market Rent slightly above the current market rent, there's room for strategic price adjustments. The lower median home value suggests that purchasing properties can be more affordable, while the higher median income provides assurance of tenant reliability. Despite the smaller share of renters, the quick turnover implied by the lack of DOM data points to a stable demand for rental units. For landlords and small-portfolio investors, this area offers a solid foundation for generating steady rental income with less competition compared to urban centers.

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.