Location: Grant County, WA | Metro: Adams County, WA
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 | $970 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,750 |
| 4 Bedrooms | $2,150 |
| 5 Bedrooms | $2,494 |
| 6 Bedrooms | $2,793 |
| 7 Bedrooms | $3,016 |
| 8 Bedrooms | $3,167 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,290 | $208,649 | 0.62% | D |
| 3BR | $1,750 | $295,309 | 0.59% | F |
U.S. Census Bureau data (2024)
The ZIP code 98857, located in Warden, WA within Grant County, stands out due to its unique demographic and economic characteristics. With a population of 4,062 residents, it has a relatively low rental rate at 29.6%, indicating that a majority of the residents are homeowners. The median income for the area is $61,860, which is above the national average, and the median home value is $284,310, reflecting a stable housing market.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for the metro area for fiscal year 2026 is set at $1,140, while the actual market rent, based on Census ACS data, is $862. This means that landlords who accept Section 8 vouchers in ZIP 98857 can expect to receive a higher rent subsidy compared to the current market rates, making it potentially more profitable to participate in the program despite the common perception of lower returns.
The data signature for ZIP 98857 reads as "stable." The combination of a moderate rental rate, a solid median income, and a reasonable median home value suggests that the area is not undergoing significant transitional changes. Landlords and small-portfolio investors should find this environment predictable and conducive to long-term investment strategies.
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.