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 | $920 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,060 | $267,000 | 0.4% | F |
| 2BR | $1,320 | $349,290 | 0.38% | F |
| 3BR | $1,830 | $435,447 | 0.42% | F |
U.S. Census Bureau data (2024)
In Ocean Park, WA (ZIP 98640), the real estate market presents a nuanced picture that suggests a balanced approach for landlords and small-portfolio investors. The median home value stands at $343,127, indicating a stable housing market with modest price points relative to larger metropolitan areas. Only 0.2% of listings have seen reductions, which signals strong seller pricing power. This low percentage of price reductions suggests that sellers can maintain their asking prices, a positive indicator for property values.
The median days on market (DOM) being listed as 'N/A' implies either a very active market where properties sell quickly, or a less frequent turnover rate that doesn't provide enough data points for an average. In either case, it aligns with the notion of robust seller's market conditions, where demand is high and supply is limited.
On the rental side, the Federal Market Rent (FMR) for FY 2026 is projected to be $1,120, while current market rents are estimated at $1,220 based on Census ACS data. This indicates that rental prices are currently above the government benchmark, suggesting a healthy rental market. However, the gap between FMR and market rents also hints at potential regulatory adjustments, particularly if subsidies or rental assistance programs are tied to FMR levels.
For long-hold investors, the setup implies a steady appreciation thesis rather than rapid growth. Given the median home value and the low percentage of price reductions, it is reasonable to expect continued stability in property values. However, the appreciation rate is likely to be modest, reflecting the broader regional economic trends and limited speculative activity. The rental market's current strength supports maintaining or slightly increasing rental income, but investors should prepare for possible regulatory changes that could affect rent levels in subsidized housing scenarios.
In summary, the combination of median home value, listing dynamics, and rental market conditions in Ocean Park, WA, points towards a real estate environment that favors steady, conservative growth. Investors can expect to maintain their property values and rental income levels, but should remain vigilant to market shifts and policy changes.
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.