Location: Stevens County, WA | Metro: Spokane, WA HUD Metro FMR Area
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 | $1,030 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,900 |
| 4 Bedrooms | $2,310 |
| 5 Bedrooms | $2,680 |
| 6 Bedrooms | $3,002 |
| 7 Bedrooms | $3,242 |
| 8 Bedrooms | $3,404 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,380 | $464,695 | 0.3% | F |
| 3BR | $1,900 | $543,226 | 0.35% | F |
| 4BR | $2,310 | $595,349 | 0.39% | F |
| 5BR | $2,680 | $664,253 | 0.4% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 99026, which includes Nine Mile Falls, WA, is set at $1,390 for the fiscal year 2024. This figure represents the maximum amount that a landlord can charge for a Section 8 rental unit in this area. It's important to note that this is not the rent you would collect directly from your tenants; rather, it's the benchmark used by the Housing Choice Voucher program to determine the maximum allowable rent.
To put this into perspective, the average rent for the area, according to the latest Census American Community Survey (ACS), is $1,608. This indicates that the FMR is lower than the market rate, meaning you might have to adjust your expectations on the rental income you receive through the Section 8 program. However, this does not necessarily mean a loss for you, as the program aims to cover a significant portion of the rent based on the tenant's income.
The demand for affordable housing in Nine Mile Falls is reflected by the fact that 5.1% of the population are renters. While this percentage might seem low, it translates to a substantial number of individuals who could benefit from the Section 8 program. With an estimated acquisition cost of $544,431 for a property in this area, participating in the Section 8 program can be a strategic way to ensure steady, government-backed rental income.
Before you decide to participate in the Section 8 program, there is one critical step to verify: check if your property meets the Housing Quality Standards (HQS) required by the program. These standards ensure that the units are safe, decent, and sanitary for tenants. By confirming that your property complies with these requirements, you can avoid potential issues down the line and secure a reliable source of rental income.
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.