Location: Wenatchee-East Wenatchee, WA | Metro: Wenatchee-East Wenatchee, WA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,000 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,400 |
| 3 Bedrooms | $1,900 |
| 4 Bedrooms | $2,340 |
| 5 Bedrooms | $2,714 |
| 6 Bedrooms | $3,040 |
| 7 Bedrooms | $3,283 |
| 8 Bedrooms | $3,447 |
U.S. Census Bureau data (2024)
To determine if you should buy in ZIP code 98817 for Section 8 purposes, follow this decision tree:
1) Does the Fair Market Rent (FMR) of $1490 cover debt service on a property?
No: If the FMR does not clear the debt service, purchasing a property in this area for Section 8 is not financially viable. Debt service includes mortgage payments, property taxes, insurance, and maintenance costs.
Yes: Proceed to the next question.
2) How does the market rent compare to the FMR?
Market rent is below FMR: This indicates that the rental income from non-Section 8 tenants would be lower than the FMR, making Section 8 tenants a more attractive option for filling vacancies. However, consider the potential for vacancy periods.
Market rent is equal to FMR: Section 8 can provide stable income, but there is little room for growth in rental rates. The stability of the program might offset this, especially if your goal is consistent cash flow.
Market rent is above FMR: In this scenario, landlords might prefer non-Section 8 tenants who pay higher rents. Section 8 could still be a fallback option, but it may not be the primary strategy for maximizing rental income.
3) Is the demand sufficient with 61.0% of residents being renters and the average days on the market (DOM) for rentals?
It depends: With 61.0% of residents being renters, there is significant demand for rental properties. However, the average DOM for rentals is crucial. A short DOM suggests strong demand and quick leasing, while a long DOM implies weaker demand and longer vacancy periods. If DOM is short, Section 8 can be a reliable source of tenants. If DOM is long, consider other factors such as the competition for Section 8 vouchers and local housing policies.
Note: Specific figures for market rent and DOM were not provided, which are critical for a complete analysis. Ensure these metrics align with your financial goals before making a purchase decision.
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.