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 | $900 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,310 |
| 3 Bedrooms | $1,820 |
| 4 Bedrooms | $2,200 |
| 5 Bedrooms | $2,552 |
| 6 Bedrooms | $2,858 |
| 7 Bedrooms | $3,087 |
| 8 Bedrooms | $3,241 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,820 | $529,802 | 0.34% | F |
U.S. Census Bureau data (2024)
The ZIP code 98649 presents a dynamic rental market with a Fair Market Rent (FMR) set at $1500 for fiscal year 2024. This figure serves as a benchmark for assessing the affordability and competitiveness of rental properties in the area. The absence of specific market rent data suggests that the official FMR may closely align with actual rents, indicating a stable but possibly tight market.
The median home value of $508,867 in ZIP 98649 reflects a significant investment for homeowners. However, it's the 19.3% renter share that reveals deeper insights into the local housing landscape. This percentage indicates a substantial portion of residents prefer or require renting over owning, which can be due to various factors such as affordability, lifestyle choice, or job mobility. Over the long term, a high renter share can translate into persistent housing pressure, as demand for rental units remains strong.
Despite the lack of detailed price-cut and days on market (DOM) data, the overall snapshot suggests a market where demand might slightly outpace supply. Landlords and small-portfolio investors should pay close attention to the rental dynamics in 98649, as the high renter share and stable FMR indicate a potentially lucrative opportunity to cater to renters' needs. This ZIP code's characteristics highlight the importance of understanding local trends and the balance between rental and homeowner populations to make informed investment decisions.
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.