Section 8 Fair Market Rent (FMR) for ZIP 98853 - 2027

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$850
1 Bedroom	$860
2 Bedrooms	$1,120
3 Bedrooms	$1,540
4 Bedrooms	$1,880
5 Bedrooms	$2,181
6 Bedrooms	$2,443
7 Bedrooms	$2,638
8 Bedrooms	$2,770

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Based on the available data, ZIP 98853 in Grant County, WA, serves as a diversifier within a Section 8 portfolio strategy. The median income in this area is relatively low, which aligns well with the financial means of potential Section 8 tenants. However, the lack of specific dollar figures for the median home value and market price makes it challenging to assess whether this area would act as a cash-flow anchor or an appreciation play. Given that the renter share is 0.0%, it suggests that the majority of the population in this ZIP code owns their homes rather than renting. This characteristic positions 98853 as a diversifier because it introduces a different demographic and ownership structure compared to areas with higher renter shares. Including such a ZIP code in a portfolio can help mitigate risks associated with tenant turnover and maintenance costs typical of high-renter share regions. Moreover, the median income data, though not explicitly stated, indicates that the area might struggle with economic growth, making it less suitable for appreciation plays where property values are expected to rise significantly. Instead, focusing on stable rental income through Section 8 tenants is a more reliable strategy in 98853. In conclusion, ZIP 98853 is best categorized as a diversifier within a Section 8 portfolio due to its low renter share and potentially lower median income, which contrasts with other investment opportunities. This diversification helps balance the overall portfolio and reduces reliance on any single type of investment performance.

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.