Location: Longview-Kelso, WA | Metro: Longview-Kelso, WA MSA
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 | $1,040 |
| 1 Bedroom | $1,250 |
| 2 Bedrooms | $1,510 |
| 3 Bedrooms | $2,090 |
| 4 Bedrooms | $2,520 |
| 5 Bedrooms | $2,923 |
| 6 Bedrooms | $3,274 |
| 7 Bedrooms | $3,536 |
| 8 Bedrooms | $3,713 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,090 | $496,669 | 0.42% | F |
U.S. Census Bureau data (2024)
The ZIP code 98645 presents several challenges for potential Section 8 landlords. Tenant turnover is a significant concern, as the market rent is currently unavailable but the Fair Market Rent (FMR) for fiscal year 2024 stands at $1560. This can lead to frequent changes in occupancy, which requires constant management efforts and may disrupt the stability of the property. Additionally, the average days on market (DOM) for vacant properties is also unspecified, which increases uncertainty regarding how long a unit might remain unoccupied, leading to financial strain.
Deferred maintenance is another critical issue. With a typical home value of $483,083 and a median household income of $101,429, the financial burden of upkeep and repairs falls heavily on the landlord. The income level suggests that tenants may struggle to contribute to any maintenance costs beyond their monthly rental payments, leaving the landlord responsible for all necessary repairs and improvements.
However, these risks must be weighed against the high concentration of renters in the area. The 4.3% renter share indicates a dense population of potential voucher holders, which translates into a higher likelihood of finding tenants who qualify for Section 8 assistance. This robust demand can mitigate some of the risks associated with vacancy and turnover, ensuring that there is always a pool of qualified applicants ready to occupy the property.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 98645 is moderate. While there are significant challenges related to tenant turnover and deferred maintenance, the high renter density provides a solid foundation for securing consistent occupancy through voucher programs.
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.