Location: Wenatchee-East Wenatchee, WA | Metro: Wenatchee-East Wenatchee, 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 | $1,210 |
| 1 Bedroom | $1,300 |
| 2 Bedrooms | $1,700 |
| 3 Bedrooms | $2,300 |
| 4 Bedrooms | $2,840 |
| 5 Bedrooms | $3,294 |
| 6 Bedrooms | $3,689 |
| 7 Bedrooms | $3,984 |
| 8 Bedrooms | $4,183 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,300 | $531,354 | 0.43% | F |
U.S. Census Bureau data (2024)
The ZIP code 98822 presents a dynamic rental market with significant insights for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the area stands at $1710 for the fiscal year 2024, indicating a benchmark that landlords should consider when setting rental prices. However, the actual market rent, as reported by the Census American Community Survey (ACS), is notably lower at $1,103. This suggests that while the government's estimate for a fair rent is higher, the real-world demand may be setting the actual market rates.
The median home value in 98822 is $475,184, which provides a context for the overall property values in the area. Despite the high median home value, the renter share in this ZIP code is relatively low at 16.6%. This statistic implies that the majority of residents in 98822 prefer homeownership over renting, which can exert long-term housing pressures on the rental market. As fewer homes are available for rent due to a preference for ownership, the dynamics suggest that demand for rentals could increase, potentially driving up rents if supply remains constrained.
The lack of specific data regarding price-cut share and days on market (DOM) means we cannot definitively state whether supply outpaces demand or vice versa. However, the gap between the FMR and the actual market rent hints at a scenario where supply might be slightly ahead of demand, or at least, the market is adjusting to a balance where rental prices are below the government's suggested fair market rate. This situation could indicate a competitive rental environment where landlords need to ensure their properties are priced appropriately to attract tenants.
In conclusion, ZIP 98822 is characterized by a rental market that is influenced by high property values and a preference for homeownership among residents. Landlords and investors must pay close attention to the balance between supply and demand, ensuring that their rental offerings are competitive yet reflective of the area's economic realities. The current snapshot suggests a market in flux, with potential for growth in rental demand as homeownership becomes less accessible to some segments of the population.
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.