Location: Grays Harbor County, WA | Metro: Grays Harbor 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 | $760 |
| 1 Bedroom | $840 |
| 2 Bedrooms | $1,100 |
| 3 Bedrooms | $1,530 |
| 4 Bedrooms | $1,690 |
| 5 Bedrooms | $1,960 |
| 6 Bedrooms | $2,195 |
| 7 Bedrooms | $2,371 |
| 8 Bedrooms | $2,490 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,100 | $333,136 | 0.33% | F |
| 3BR | $1,530 | $390,116 | 0.39% | F |
U.S. Census Bureau data (2024)
The median income in ZIP code 98595, which encompasses Westport, WA, stands at $66,579. This figure places significant constraints on the rental budget for households in the area. The current market rate for rentals, according to Census ACS data, is $891 per month. However, when comparing this rate to the federal payment standard for housing vouchers, which is set at $1,050 for the metro area in fiscal year 2026, it becomes evident that there is a notable disparity in rental costs.
A household earning the median income would struggle to consistently pay the market rate of $891 without financial strain, especially considering other living expenses such as utilities, groceries, and transportation. The voucher payment standard at $1,050 represents a higher benchmark that could alleviate some of the financial pressure on tenants while also providing a more stable source of income for landlords.
With 37.0% of the 2,698 residents being renters, the competition for affordable housing is fierce. Landlords must consider the balance between accepting voucher payments, which ensure timely and reliable rent, and attracting cash-paying tenants who might offer slightly higher rents but come with the risk of non-payment or delayed payments.
The affordability gap means that landlords face a choice: they can either cater to the majority of potential tenants by setting their rents closer to the market rate of $891, thereby increasing their pool of applicants but potentially dealing with higher tenant turnover and vacancy rates; or they can align their rents with the voucher payment standard of $1,050, ensuring a steady stream of income from government-backed sources but limiting their applicant pool to those eligible for housing assistance.
Takeaway: For landlords and small-portfolio investors in ZIP 98595, the decision to accept housing vouchers should be carefully weighed against the desire to attract cash-paying tenants. While the $1,050 voucher rate offers financial security, the $891 market rate could attract more tenants, though it may not guarantee the same level of financial stability. Understanding the local rental market and the demographics of potential tenants will be key in determining the best strategy to maximize occupancy and income.
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.