Location: Yakima, WA | Metro: Yakima, WA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,020 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,340 |
| 3 Bedrooms | $1,860 |
| 4 Bedrooms | $2,100 |
| 5 Bedrooms | $2,436 |
| 6 Bedrooms | $2,728 |
| 7 Bedrooms | $2,946 |
| 8 Bedrooms | $3,093 |
U.S. Census Bureau data (2024)
ZIP code 98952, located within the Yakima, WA MSA, presents a unique profile when compared to typical ZIP codes in the same metropolitan area. The Fair Market Rent (FMR) for ZIP 98952 stands at $1280 for fiscal year 2024, which is notably higher than the market rent figure of $483. This discrepancy suggests that while government-assisted rents are set at a higher rate, the actual rental market within this ZIP code is more affordable.
The median home value in ZIP 98952 is $301,756, indicating a middle-range housing market within the Yakima, WA MSA. Given the overall cost of living and property values in the region, this places 98952 squarely in the mid-tier neighborhood category. It neither represents a low-value pocket nor a premium sub-market in terms of home values.
A significant factor to consider is the 35.1% renter share in ZIP 98952. This percentage is relatively high, suggesting a substantial portion of residents rely on rental properties. However, the home values being below average for the metro area could imply that there is a concentration of lower-cost homes and rental units. This combination of a high renter share with below-average home values can be indicative of a Section 8 sweet spot, where the demand for affordable rentals is met with a supply of properties that are priced within the range of government assistance programs.
In summary, ZIP 98952 is best categorized as a mid-tier neighborhood within the Yakima, WA MSA. Its characteristics align closely with the average market conditions, but the specific dynamics of a higher-than-average renter share coupled with below-average home values make it an attractive location for landlords participating in Section 8 programs.
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.