Location: Kittitas County, WA | Metro: Kittitas 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 | $1,140 |
| 1 Bedroom | $1,260 |
| 2 Bedrooms | $1,640 |
| 3 Bedrooms | $2,270 |
| 4 Bedrooms | $2,740 |
| 5 Bedrooms | $3,178 |
| 6 Bedrooms | $3,559 |
| 7 Bedrooms | $3,844 |
| 8 Bedrooms | $4,036 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,270 | $367,125 | 0.62% | D |
U.S. Census Bureau data (2024)
The analysis of ZIP code 98934 reveals a unique balance between yield and stability, making it an intriguing market for both high-yield seekers and those looking for steady cash flow.
On the yield axis, the Federal Market Rent (FMR) for the metro area in fiscal year 2026 is $1,390, while the market rent stands at $1,432. This indicates that the rental market is slightly above the federal guideline, offering a modest premium for landlords. The median home value of $325,263 provides a solid base for investment, suggesting that there is potential for capital appreciation over time. However, the rental rates are relatively low compared to the home values, which implies that the yield from rental income alone might be less attractive.
Moving to the stability axis, the percentage of renters at 24.8% suggests a moderate demand for rental properties. While this is not a high figure indicative of a robust rental market, it does point towards a stable population that relies on rentals. Unfortunately, the data on days on market (DOM) is not available, which would have given us insight into how quickly properties can be rented out. The average household income of $79,063 is another key indicator of stability, as it suggests that tenants have the financial capacity to meet their rental obligations consistently.
Based on these figures, ZIP 98934 leans towards being a steady-cashflow zone rather than a high-yield/low-stability market. The slight premium on market rent over FMR, combined with the moderate percentage of renters and decent household income levels, supports this classification. Landlords and small-portfolio investors should expect a reliable but not exceptionally high return on investment through rental income, with the potential for long-term growth through property value appreciation.
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.