Location: Grant County, WA | Metro: Grant County, WA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $890 |
| 2 Bedrooms | $1,170 |
| 3 Bedrooms | $1,590 |
| 4 Bedrooms | $1,960 |
| 5 Bedrooms | $2,274 |
| 6 Bedrooms | $2,547 |
| 7 Bedrooms | $2,751 |
| 8 Bedrooms | $2,889 |
U.S. Census Bureau data (2024)
The ZIP code 98860 encompasses a small, rural area primarily characterized by its close-knit community and natural surroundings. With a total population of just 277 residents, it is a quiet locale where approximately 26.6% of the residents are renters. The median household income in this area stands at $62,500, reflecting a modest but stable economic environment.
In terms of housing, the median home value is not available, which suggests a limited number of homes sold recently, or that the majority of properties are owner-occupied rather than rented out. However, the rental market provides some insight into the local economy. According to the Fair Market Rent (FMR) set by HUD for the fiscal year 2026, the metro area's FMR is $1,060. In contrast, the actual market rent, as reported by the Census Bureau's American Community Survey (ACS), is significantly lower at $796 per month. This discrepancy indicates a potential opportunity for landlords who can manage properties efficiently within the voucher program guidelines.
Given these figures, 98860 would be suitable for a hands-off voucher operator due to the lower market rent compared to the FMR. Landlords who participate in the Section 8 program can expect steady, government-backed rental income, which is particularly beneficial in a low-risk, low-rent environment. For those interested in a more hands-on approach, there might be room for value-add strategies, such as improving property amenities or energy efficiency, to command rents closer to the FMR without overpricing the market.
To conclude, 98860 presents a niche market for both hands-off and hands-on Section 8 investors. The lower market rent allows hands-off operators to benefit from a stable income source, while the potential to increase rents through improvements makes it an attractive option for value-add buyers looking to capitalize on the difference between the FMR and current market rates.
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.