Location: Okanogan County, WA | Metro: Okanogan County, WA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,840 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
U.S. Census Bureau data (2024)
The ZIP code 98814, located in Okanogan County, WA metro, presents a unique opportunity for Section 8 investors. The HUD Fair Market Rent (FMR) for the area is set at $1,260 for the fiscal year 2026, which will be the benchmark for rental income from voucher tenants.
Given that the market rent is currently unavailable, it's crucial to rely on the HUD FMR to assess the viability of Section 8 properties. In this scenario, voucher tenants will cashflow at the FMR rate, but only with premium units. This means that landlords need to ensure their properties are well-maintained and offer amenities that justify a slightly higher rent within the FMR range.
The median home value in ZIP 98814 is $478,141. Using this figure, we can derive a rent-to-price ratio by dividing the FMR by the median home value. For instance, if we consider a typical home with four bedrooms, the FMR of $1,260 would represent an annual rental income of approximately $15,120. Dividing this by the median home value gives us a rough estimate of the rent-to-price ratio, which is about 3.16%. This suggests that the rental income is relatively low compared to the property values, indicating that appreciation might be a stronger investment angle than cashflow.
With the lack of specific data on the days-on-market (DOM) and the percentage of price cuts, it's difficult to provide a precise analysis of the rent-versus-buy dynamics. However, the low rent-to-price ratio implies that purchasing a home in this area could be more advantageous than renting, particularly for long-term investments.
The strongest investor angle in ZIP 98814 is likely to be appreciation. Given the median home value and the relatively low FMR, there is potential for significant growth in property values over time, making this a stable and profitable market for those willing to invest in quality Section 8 properties.
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.