Location: Wenatchee-East Wenatchee, WA | Metro: Wenatchee-East Wenatchee, WA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,040 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,360 |
| 5 Bedrooms | $2,738 |
| 6 Bedrooms | $3,067 |
| 7 Bedrooms | $3,312 |
| 8 Bedrooms | $3,478 |
U.S. Census Bureau data (2024)
The rental market in ZIP code 98845 is characterized by a significant disparity between the Fair Market Rent (FMR) set at $1380 for the fiscal year 2024 and the actual market rent, which stands at $689 according to the latest Census ACS data. This indicates that the rental prices in this area are considerably lower than what the government deems fair, suggesting a potential oversupply of rental units relative to demand.
The high renter share of 38.5% implies a substantial portion of the population relies on renting their homes. In the long term, this can lead to increased housing pressure as the number of renters grows, potentially driving up demand for rental properties. However, given the current low market rents, it appears that there is enough supply to meet this demand, at least for now.
Despite the lack of specific data on price-cut share, days on market (DOM), and median home value, the overall picture suggests a market in equilibrium but leaning towards a slight oversupply. Landlords and small-portfolio investors should be cautious about pricing their units above the market rate, as this could result in longer vacancy periods and reduced occupancy rates.
In summary, ZIP 98845 presents a dynamic rental market where supply currently meets demand, but the high renter share points to an ongoing need for rental properties. Investors should focus on maintaining competitive pricing and ensuring their properties are well-maintained to attract tenants in this price-sensitive environment.
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.