Section 8 Fair Market Rent (FMR) for ZIP 98622 - 2027

FY 2027 Fair Market Rent Rates

The investment risk assessment for ZIP 98622 in Unknown, OR, reveals several potential challenges for landlords and small-portfolio investors considering Section 8 properties. First, tenant turnover could be an issue, particularly when comparing the market rent, which is currently unavailable, to the Fair Market Rent (FMR) of $2000 for FY 2024. This discrepancy can lead to instability in rental income if tenants frequently move out and new ones take time to find.

Vacancy exposure is another concern, as the Days on Market (DOM) data is also not available. A higher DOM indicates longer periods of vacancy, which can significantly impact cash flow. Additionally, the lack of information on typical home values and median incomes makes it difficult to assess the financial health of potential tenants and the likelihood of deferred maintenance issues.

Despite these uncertainties, the high renter density in the area, indicated by the N/A% renter share, suggests strong demand for rental properties. High renter concentration often correlates with a robust demand for housing vouchers, potentially stabilizing rental income through consistent voucher payments. However, the absence of specific figures for renter share, home values, and median income limits the ability to fully gauge this demand and the financial stability of tenants.

In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 98622 is high. The lack of critical data points such as market rent, DOM, typical home value, and median income creates significant uncertainty that outweighs the potential benefits of a high renter share.

Data Sources: FMR data from HUD (2027).

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.