Location: Grant County, 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 | $1,050 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,890 |
| 4 Bedrooms | $2,320 |
| 5 Bedrooms | $2,691 |
| 6 Bedrooms | $3,014 |
| 7 Bedrooms | $3,255 |
| 8 Bedrooms | $3,418 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,060 | $318,012 | 0.33% | F |
| 2BR | $1,390 | $511,408 | 0.27% | F |
| 3BR | $1,890 | $406,486 | 0.46% | F |
| 4BR | $2,320 | $457,415 | 0.51% | F |
| 5BR | $2,691 | $525,959 | 0.51% | F |
U.S. Census Bureau data (2024)
The ZIP code 98848, located in Quincy, WA within the Grant County, WA metro, has a Family Monthly Rent (FMR) set at $1370 for fiscal year 2024. This figure is notably higher than the market rent of $1,100, indicating that subsidized housing may be commanding a premium over what is typically paid by private renters in the area. The median home value of $421,763 suggests that Quincy is neither an extremely affordable nor an overly expensive part of the county, placing it somewhere in the middle range when compared to other ZIP codes in Grant County.
A key metric to consider is the 32.3% renter share, which is above average for many rural areas. This high percentage of renters can be indicative of a diverse housing market where rental properties are in demand. However, the combination of a high renter share and a market rent lower than the FMR could signal a potential sweet spot for Section 8 landlords. It means that there are enough tenants interested in renting, and the government subsidy rate exceeds the local market rate, thus providing a financial advantage for those who participate in the program.
To determine if 98848 is a value pocket, a mid-tier neighborhood, or a premium sub-market, we must look at the comparative figures. The FMR being higher than the market rent suggests that the ZIP code is not necessarily a premium sub-market where rents are naturally inflated. Instead, it leans towards being a mid-tier neighborhood where the cost of living is balanced, but the opportunity for Section 8 landlords is enhanced due to the subsidy rates exceeding the typical rental prices.
The divergence between the high renter share and the below-metro home values indicates a mixed market condition. Landlords and small-portfolio investors might find opportunities in both the rental and homeownership markets. However, the primary appeal for Section 8 landlords would likely come from the higher FMR relative to the market rent, making it an attractive area for those looking to benefit from the federal housing assistance program.
In summary, 98848 in Quincy, WA is positioned as a mid-tier neighborhood within the Grant County, WA metro. Its characteristics make it particularly interesting for Section 8 landlords due to the favorable FMR to market rent ratio, despite the median home value being relatively standard for the region. This ZIP code represents a balance between affordability and investment opportunity, especially for those seeking to leverage the Section 8 program.
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.