Location: Klickitat County, WA | Metro: Klickitat County, WA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $840 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,210 |
| 3 Bedrooms | $1,580 |
| 4 Bedrooms | $1,650 |
| 5 Bedrooms | $1,914 |
| 6 Bedrooms | $2,144 |
| 7 Bedrooms | $2,316 |
| 8 Bedrooms | $2,432 |
U.S. Census Bureau data (2024)
The ZIP code 98673 represents a suburban neighborhood located in Washington state, characterized by a moderate-sized population of 411 residents. Renters make up 32.7% of the housing market, indicating a community where a significant portion of residents own their homes, while still maintaining a notable rental presence. The median household income stands at $42,188, which is reflective of a middle-class area. The median home value in the region is $178,793, suggesting that homeownership is accessible to many local residents.
When it comes to rental economics, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,220. This figure contrasts sharply with the current market rent, which according to Census ACS data, averages $817 per month. This discrepancy highlights an opportunity for landlords and small-portfolio investors who can capitalize on the higher FMR supported by the government through the Section 8 program, ensuring a stable income stream for those willing to participate in the voucher system.
Given these economic indicators, ZIP 98673 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the consistent demand for affordable housing and the government's support through the Section 8 program provide a reliable source of income. On the other hand, for hands-on investors looking to add value, the potential exists to increase rental rates closer to the FMR without significantly affecting occupancy, as long as improvements justify the price increase.
In conclusion, ZIP 98673 offers a balanced environment for investment, with a mix of homeowners and renters, and a significant gap between market rents and the FMR, providing opportunities for both passive and active investors.
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.