Location: Okanogan County, WA | Metro: Okanogan County, WA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $730 |
| 1 Bedroom | $800 |
| 2 Bedrooms | $1,010 |
| 3 Bedrooms | $1,410 |
| 4 Bedrooms | $1,450 |
| 5 Bedrooms | $1,682 |
| 6 Bedrooms | $1,884 |
| 7 Bedrooms | $2,035 |
| 8 Bedrooms | $2,137 |
U.S. Census Bureau data (2024)
Oroville, WA, located in Okanogan County and represented by ZIP code 98844, stands out due to its unique demographic and economic characteristics. With a population of 4,873 residents, the area has a relatively low rental rate at 24.5%, indicating that homeownership is more prevalent. The median household income in Oroville is $44,201, which is modest but supports a median home value of $261,919. This suggests that while incomes are not exceptionally high, they are sufficient to sustain a housing market where property values are notably higher than the national average.
The voucher economics in Oroville present an interesting opportunity for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $970, which is significantly higher than the current market rent of $759 based on Census ACS data. This discrepancy means that landlords can potentially charge more for their properties if they participate in the Section 8 program, thereby increasing their revenue. For instance, a landlord could see an increase of over $200 per month by accepting vouchers, making it a financially viable option.
The data signature for ZIP 98844 indicates a stable environment. Despite the modest median income, the higher median home value and the potential for increased rental income through the Section 8 program suggest that the local economy is resilient and capable of supporting both homeowners and renters. The slight disparity between the FMR and the actual market rent also points towards a market that is likely to adjust upwards, benefiting those who are willing to engage with government-assisted tenants. In conclusion, Oroville's economic indicators point to a stable community with opportunities for growth, particularly in the rental sector through the utilization of Section 8 vouchers.
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.