Location: Klickitat County, WA | Metro: Klickitat 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 | $830 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,450 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,450 | $222,450 | 0.65% | D |
U.S. Census Bureau data (2024)
The ZIP code 98628 stands out due to its unique mix of low population density and relatively high median home values compared to median income levels. With only 577 residents, it has a rental rate of 31.3%, indicating that a significant portion of the population does not own their homes. The median income in this area is $63,438, while the median home value is notably higher at $209,902. This suggests that homeownership is financially challenging for many residents, potentially making rental properties more attractive.
When examining the Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 98628 is set at $1,100 for fiscal year 2026, which is slightly above the current market rent of $960 as reported by the Census Bureau's American Community Survey (ACS). This indicates that landlords participating in the Section 8 program can expect a modest premium over market rates, providing an incentive to accept vouchers. However, the difference between the FMR and market rent is not substantial, suggesting that landlords should be prepared for some competition and potential challenges in attracting tenants willing to use their vouchers.
The data signature for ZIP 98628 reads as stable, with consistent economic indicators that suggest little change in the near future. The slight increase in FMR over market rent supports this stability, as it aligns closely with current conditions without drastic shifts. Landlords and small-portfolio investors considering Section 8 participation in this ZIP code should anticipate a steady but competitive environment where voucher usage is feasible but not guaranteed to cover all units. The key to success will likely lie in maintaining high-quality, affordable properties that appeal to voucher holders and non-voucher holders alike.
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.