Location: Pacific County, WA | Metro: Pacific 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 | $970 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,940 |
| 4 Bedrooms | $2,340 |
| 5 Bedrooms | $2,714 |
| 6 Bedrooms | $3,040 |
| 7 Bedrooms | $3,283 |
| 8 Bedrooms | $3,447 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,940 | $458,956 | 0.42% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 98624 is set at $1,240 for the fiscal year 2026. This figure represents the maximum amount that a landlord can receive through the Section 8 program for a rental unit in this area. It's important to note that this is not the actual rent you should charge your tenants; it's the payment standard used by the Housing Choice Voucher program.
To put this into perspective, the average rent in ZIP 98624 is currently $1,196 according to the latest Census American Community Survey (ACS) data. This indicates that the FMR is slightly above the average market rate, which could be beneficial for landlords participating in the Section 8 program as they may receive higher payments compared to the typical rent.
The rental market in ZIP 98624 shows strong demand, with 37.2% of residents being renters. This high percentage suggests a steady pool of potential tenants who might be interested in Section 8 housing. However, the competition for these tenants can also be high, so ensuring your property meets the necessary standards is crucial.
When considering the acquisition cost of a rental property in this area, the median home value stands at approximately $403,838. This figure reflects the typical price range for homes in ZIP 98624 and can help you gauge whether investing in a Section 8 property is financially viable based on the expected monthly income and the initial investment required.
Before proceeding with your first Section 8 rental in ZIP 98624, it's essential to verify that your property complies with the Housing Quality Standards (HQS). These standards ensure that the property is safe, decent, and sanitary for tenants. Failure to meet these standards can result in disqualification from the program, so confirming compliance is a critical step.
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.