Location: Whitman County, WA | Metro: Adams County, WA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $820 |
| 1 Bedroom | $920 |
| 2 Bedrooms | $1,160 |
| 3 Bedrooms | $1,610 |
| 4 Bedrooms | $1,950 |
| 5 Bedrooms | $2,262 |
| 6 Bedrooms | $2,533 |
| 7 Bedrooms | $2,736 |
| 8 Bedrooms | $2,873 |
U.S. Census Bureau data (2024)
The ZIP code 99017 presents several challenges for landlords considering Section 8 investments. Firstly, tenant turnover is a significant concern due to the discrepancy between the market rent and the Fair Market Rent (FMR) of $1,120 for FY 2026, which is based on metro area standards. This difference can lead to dissatisfaction among tenants who might find the FMR insufficient for the local market conditions, thus increasing the likelihood of frequent moves.
Vacancy exposure is another critical risk factor. With an average Days on Market (DOM) not available, it's difficult to predict how long a property might remain vacant. However, the lack of data suggests potential inefficiencies in the rental market, which could translate into longer vacancy periods and reduced cash flow.
Deferred maintenance is also a notable risk. The median income of $58,958 in ZIP 99017 indicates that many residents might struggle to afford necessary repairs and maintenance. Landlords should be prepared to handle higher-than-average maintenance costs, especially if the typical home value is not specified, suggesting a possible disparity between the quality of homes and the ability of residents to maintain them.
Despite these risks, the high renter share of 9.7% provides a silver lining. High renter density typically correlates with increased demand for housing vouchers, making it easier for landlords to find qualified tenants through the Section 8 program. This demand can stabilize occupancy rates and provide a steady stream of income.
Verdict: Moderate risk for a first-time Section 8 landlord in ZIP 99017.
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.