Location: Yakima, WA | Metro: Yakima, 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 | $1,030 |
| 1 Bedroom | $1,040 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,120 |
| 5 Bedrooms | $2,459 |
| 6 Bedrooms | $2,754 |
| 7 Bedrooms | $2,974 |
| 8 Bedrooms | $3,123 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,360 | $244,022 | 0.56% | F |
| 3BR | $1,880 | $327,976 | 0.57% | F |
| 4BR | $2,120 | $364,607 | 0.58% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 98932, which includes Granger, WA, in Yakima County, are driven by the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment set at $1460 for the fiscal year 2024. This SAFMR figure is specifically tailored for this ZIP code, reflecting the local rental market conditions more accurately than broader county or metropolitan averages.
To clarify how a voucher works, it's important to understand the components involved. A tenant using a Section 8 voucher is expected to contribute 30% of their adjusted income toward rent. For simplicity, let's assume an average adjusted income of $1,132 based on Census ACS data, which would mean the tenant contributes approximately $339.60 per month.
The remaining amount is subsidized by the government up to the SAFMR limit. In this case, the government would cover the difference between the tenant's contribution and the SAFMR, which is $1460 - $339.60 = $1120.40. However, this does not account for utility allowances, which can vary but typically add around $200 to $300 per month depending on the number of bedrooms and the specific region's utility costs.
In ZIP 98932, the total reimbursement to the landlord would be the sum of the tenant's contribution and the utility allowance. Assuming a utility allowance of $250, the total reimbursement would be $339.60 + $250 = $589.60 plus the subsidy of $1120.40, totaling $1710 per month. This is slightly above the SAFMR of $1460 due to the inclusion of the utility allowance.
Given the local market rent of $1,132, landlords in ZIP 98932 would see a surplus when renting to tenants with Section 8 vouchers. The surplus is calculated by subtracting the market rent from the total reimbursement, which in this scenario would be $1710 - $1132 = $578 per month. This surplus provides landlords with additional financial cushion beyond the typical market rates.
It's crucial for landlords to note that while the SAFMR sets the upper limit for government subsidies, they can charge the full reimbursement amount of $1710, including the utility allowance, without exceeding the subsidy cap. This makes Section 8 vouchers a reliable source of income that often exceeds the local market rent, offering a significant advantage in a competitive rental market.
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.