Location: Wahkiakum 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 | $1,140 |
| 1 Bedroom | $1,330 |
| 2 Bedrooms | $1,640 |
| 3 Bedrooms | $2,270 |
| 4 Bedrooms | $2,740 |
| 5 Bedrooms | $3,178 |
| 6 Bedrooms | $3,559 |
| 7 Bedrooms | $3,844 |
| 8 Bedrooms | $4,036 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,270 | $453,381 | 0.5% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 98638 is set at $1,230 for metro fiscal year 2026. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, meaning it is the maximum amount that the government will pay towards rent for a voucher holder in this area. However, this does not necessarily reflect the actual market rent in the region.
According to recent Census American Community Survey (ACS) data, the average rent in ZIP 98638 is $1,657. This is significantly higher than the FMR, indicating that landlords participating in the Section 8 program will receive less than the market rate for their properties. The difference between the FMR and the actual market rent can be a critical factor when deciding whether to enter into a Section 8 contract.
In ZIP 98638, approximately 14.1% of residents are renters. This suggests a steady demand for rental housing, including potential Section 8 tenants. However, it also implies that there might be competition among landlords for these vouchers, given the lower payment standard compared to the local market rates.
The median home value in the area is $388,677, which can help you gauge the acquisition cost if you're looking to buy property for your first Section 8 rental. This price point indicates a relatively high cost for entering the market, so it's important to consider the long-term financial implications of accepting a Section 8 tenant.
Before committing to a Section 8 rental in ZIP 98638, verify that the property meets all the necessary requirements for the program, such as passing a Housing Quality Standards (HQS) inspection. This ensures that you won't face unexpected costs or delays once you've decided to participate.
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.