Location: Spokane, WA | Metro: Spokane, WA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,490 |
| 1 Bedroom | $1,570 |
| 2 Bedrooms | $2,000 |
| 3 Bedrooms | $2,740 |
| 4 Bedrooms | $3,340 |
| 5 Bedrooms | $3,874 |
| 6 Bedrooms | $4,339 |
| 7 Bedrooms | $4,686 |
| 8 Bedrooms | $4,920 |
U.S. Census Bureau data (2024)
The ZIP code 99011 is a renter-heavy area with significant demand for housing vouchers. With a population of 2,931, it stands out due to its 100.0% rental rate, indicating that every household in this ZIP is a renter. This high concentration of renters suggests a robust market for Section 8 tenants.
The median household income in 99011 is $69,917, which provides a benchmark for assessing the affordability of housing in the area. The typical market rent of $1,808 per month consumes approximately 26.1% of the median income when calculated on an annual basis. This percentage aligns closely with federal guidelines, which generally suggest that housing costs should not exceed 30% of a household's income to be considered affordable.
The Fair Market Rent (FMR) for 99011 is set at $1,800 for FY 2024, nearly matching the actual market rent. This close alignment between the FMR and the market rent indicates that the government's assessment of reasonable rent in this area is accurate, supporting the presence of a strong Section 8 tenant pool.
A landlord in 99011 should expect tenants who are likely to rely heavily on housing vouchers to meet their rental obligations. These tenants will typically have lower incomes, possibly around or below the median household income, and will benefit from the financial assistance provided by the Section 8 program. The high demand for rental properties and the prevalence of voucher usage in this ZIP code make it particularly attractive for those interested in participating in the Section 8 program.
In summary, 99011 is characterized by a dense population of renters, with a significant portion likely to use Section 8 vouchers. The median income supports the feasibility of renting at the current market rates, making this ZIP code a prime location for landlords looking to engage with the Section 8 tenant pool.
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.