Location: Klickitat County, WA | Metro: Klickitat County, WA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,120 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,610 |
| 3 Bedrooms | $2,100 |
| 4 Bedrooms | $2,190 |
| 5 Bedrooms | $2,540 |
| 6 Bedrooms | $2,845 |
| 7 Bedrooms | $3,073 |
| 8 Bedrooms | $3,227 |
U.S. Census Bureau data (2024)
The ZIP code 98623 presents several challenges for potential Section 8 landlords and small-portfolio investors. Firstly, tenant turnover can be a significant issue when comparing the non-disclosed market rent to the $1,510 Fair Market Rent (FMR) for the fiscal year 2026, which is set for the metro area. This discrepancy may lead to frequent changes in occupancy, increasing administrative burdens and costs.
Secondly, there is a notable risk of vacancy exposure due to the undisclosed number of days on the market (DOM). A higher DOM indicates that properties might remain vacant for extended periods, reducing rental income and potentially leading to financial strain.
Thirdly, deferred maintenance is a concern in ZIP 98623, where both the typical home value and median income are undisclosed. Without these figures, it's difficult to assess the financial health of homeowners and their ability to maintain their properties adequately, which can affect the quality of the rental units and increase repair costs.
However, these risks must be weighed against the fact that ZIP 98623 has a 0.0% renter share. Typically, a high renter density correlates with increased demand for housing vouchers, suggesting that while the overall population may not be renting, those who do are likely to rely heavily on Section 8 vouchers. This can be beneficial for landlords willing to navigate the Section 8 program, as it ensures a stable stream of tenants who can afford the rent through government assistance.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.