Location: Portland-Vancouver-Hillsboro, OR | Metro: Portland-Vancouver-Hillsboro, OR-WA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,450 |
| 1 Bedroom | $1,550 |
| 2 Bedrooms | $1,780 |
| 3 Bedrooms | $2,420 |
| 4 Bedrooms | $2,910 |
| 5 Bedrooms | $3,376 |
| 6 Bedrooms | $3,781 |
| 7 Bedrooms | $4,083 |
| 8 Bedrooms | $4,287 |
U.S. Census Bureau data (2024)
Washougal, WA, located in Clark County, has a distinct demographic profile with 24,871 residents. The ZIP code 98671 stands out due to its relatively low rental rate at 23.5%, indicating a primarily owner-occupied community. However, the median income of $111,545 and median home value of $639,814 suggest that Washougal is a moderately affluent area, which could be attractive to both landlords and small-portfolio investors.
The voucher economics in Washougal present an interesting opportunity. The Fair Market Rent (FMR) for ZIP 98671 in fiscal year 2024 is set at $1,910, while the market rent, as measured by ZORI, is slightly higher at $1,998. This means that landlords who accept Section 8 vouchers can expect to receive close to market rates, making it a viable option for those looking to maintain occupancy without significant financial loss.
Based on the data signature, Washougal appears to be a stable market. The modest difference between FMR and ZORI indicates that the housing market is not experiencing rapid changes, and the relatively high median income and home values suggest a solid economic foundation. For investors, this stability means that Washougal offers a predictable environment where properties are likely to retain their value and generate consistent returns.
To summarize, Washougal's demographics and economic indicators make it a favorable location for real estate investment. The nearly market-rate compensation offered by Section 8 vouchers further enhances the appeal for landlords. Overall, the data points towards a stable market, ideal for both long-term investment strategies and maintaining a diverse portfolio.
Data Sources: FMR data from HUD (2027). 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.