Location: Lincoln County, WA | Metro: Adams County, WA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,190 |
| 3 Bedrooms | $1,640 |
| 4 Bedrooms | $2,000 |
| 5 Bedrooms | $2,320 |
| 6 Bedrooms | $2,598 |
| 7 Bedrooms | $2,806 |
| 8 Bedrooms | $2,946 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 98832, set at $1,160 for metro fiscal year 2026, represents the payment standard under the Section 8 Housing Choice Voucher program. This figure does not dictate the rent you charge your tenants but rather the maximum amount that the housing authority will pay towards a tenant's rent subsidy. In ZIP 98832, the local median gross rent is currently listed as N/A, which makes it challenging to directly compare the FMR to local market rates. However, given that 27.3% of residents are renters, there is a notable demand for affordable housing options.
The lack of specific local median gross rent data (N/A) suggests that rental prices in 98832 may be quite varied, but the high percentage of renters indicates a strong market presence for those seeking affordable housing solutions. This can translate into steady occupancy rates for properties that qualify under the Section 8 program.
Regarding acquisition costs, the average price for homes in ZIP 98832 is also listed as N/A. This means that without specific data, it’s difficult to provide an exact figure on how much you might spend to acquire a property. However, the high renter share suggests that if you can find a property at a reasonable price, it could be well-positioned to attract Section 8 tenants.
Before proceeding with your first Section 8 rental in ZIP 98832, verify that the property meets all the necessary inspection criteria set by the local housing authority. These criteria ensure that the property is safe, decent, and sanitary for tenants, and failure to meet these standards can result in disqualification from the program. Once confirmed, the potential for stable income based on the $1,160 FMR can make Section 8 rentals a viable option for new landlords and small-portfolio 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.