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 | $950 |
| 1 Bedroom | $960 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $960 | $185,262 | 0.52% | F |
| 2BR | $1,250 | $237,056 | 0.53% | F |
| 3BR | $1,730 | $298,158 | 0.58% | F |
| 4BR | $1,950 | $324,826 | 0.6% | D |
| 5BR | $2,262 | $341,993 | 0.66% | D |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 98948, located in Toppenish, WA, within the Yakima County County and Yakima, WA MSA metro area, reveals a significant gap between the Fair Market Rent (FMR) set by the U.S. Department of Housing and Urban Development (HUD) and the actual market rents. For fiscal year 2024, the HUD FMR for ZIP 98948 is set at $1,180, while the Census American Community Survey (ACS) reports an average market rent of $992. This means that landlords and small-portfolio investors can expect to cashflow positively when renting to voucher tenants at the HUD FMR, assuming they manage their properties efficiently.
To further analyze the investment potential, consider the median home value in ZIP 98948, which stands at $274,040. Using the HUD FMR of $1,180, the rent-to-price ratio is approximately 0.5%, indicating a relatively low rental yield compared to the property value. However, this ratio is still favorable for investors looking to maintain positive cashflow from their rental properties.
The days on market (DOM) and the percentage of homes that have been price-cut are not available for this analysis, but these metrics typically play a crucial role in understanding the local real estate market dynamics. In the absence of these figures, it's important to focus on the positive cashflow potential that voucher tenants provide, given the disparity between the HUD FMR and the market rent.
The strongest investor angle in ZIP 98948 is cashflow, due to the higher HUD FMR compared to the market rent. This provides a solid foundation for landlords and small-portfolio investors to manage their properties effectively and ensure a steady income stream from their investments.
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.