Location: Lincoln County, WA | Metro: Spokane, WA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,000 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
U.S. Census Bureau data (2024)
The real estate landscape in ZIP 99013 is poised for a nuanced outlook over the next 12-24 months, driven by the interplay between home values and rental dynamics. With a median home value of $274,453, the area presents a balanced opportunity for both homeownership and investment. The absence of percentage reductions in listings and the unspecified median days on market (DOM) indicate stability in the local housing market, suggesting that current pricing reflects a reasonable equilibrium between supply and demand.
On the rental side, the forward-moving rent (FMR) for ZIP 99013 is projected at $1,080 for fiscal year 2024, while the current market rent stands at $527 based on Census ACS data. This significant gap signals strong potential for rental income growth, particularly for long-term investors. The disparity suggests that the rental market may be undervalued relative to the cost of ownership, which could attract more renters to the area and drive up rental rates closer to the FMR level.
For landlords and small-portfolio investors, the setup implies an environment where maintaining or slightly increasing rents could be feasible without significantly impacting occupancy rates. However, the appreciation thesis for long-hold investors remains less clear. While the stable median home value indicates that there is little risk of a sudden price drop, it also points to a lack of robust appreciation potential. In a market where home values have reached a plateau, investors should focus on the steady rental income rather than capital gains as the primary driver of returns.
In summary, ZIP 99013 offers a stable base for real estate investments, with rental income likely to grow towards the FMR levels. Homeowners and investors can expect consistent returns but should temper expectations regarding rapid increases in property values. The data supports a conservative approach, emphasizing the importance of long-term strategies over short-term speculative gains.
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.