Location: Okanogan County, WA | Metro: Okanogan County, WA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,320 |
| 3 Bedrooms | $1,830 |
| 4 Bedrooms | $1,870 |
| 5 Bedrooms | $2,169 |
| 6 Bedrooms | $2,429 |
| 7 Bedrooms | $2,623 |
| 8 Bedrooms | $2,754 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 98833 is set at $1,140 for metro fiscal year 2026. This figure represents the payment standard for Section 8 rentals, which is the amount the Housing Authority will pay towards your tenant's rent. It does not represent the total rent you can charge; rather, it is the maximum subsidy the program will provide.
In ZIP 98833, the local median rent is currently unavailable. However, the lack of data on local rents combined with a 0.0% share of renters indicates there is little competition from other landlords who might be charging higher market rates. This suggests a strong demand for affordable housing in the area, making Section 8 an attractive option for new landlords.
The average home price in ZIP 98833 stands at $659,250. This figure reflects the typical cost to acquire a property in the area. While this price may seem high, it is important to consider that the Section 8 program guarantees timely payments, reducing the risk of unpaid rent and property vacancy.
To make a sound investment decision, ensure your property meets all the necessary requirements for Section 8 eligibility. This includes passing a housing quality standards (HQS) inspection and adhering to fair market rent limits. The HQS inspection ensures your property is safe, decent, and sanitary, aligning with federal standards.
In summary, with a guaranteed payment standard of $1,140 and minimal competition from market-rate rentals, Section 8 can offer a stable income stream for landlords in ZIP 98833. Given the high acquisition costs of properties in the area, meeting the program's criteria is essential for securing a reliable tenant through the Section 8 program.
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.