Location: Spokane, 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 | $1,110 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,490 |
| 3 Bedrooms | $2,040 |
| 4 Bedrooms | $2,490 |
| 5 Bedrooms | $2,888 |
| 6 Bedrooms | $3,235 |
| 7 Bedrooms | $3,494 |
| 8 Bedrooms | $3,669 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,040 | $421,666 | 0.48% | F |
U.S. Census Bureau data (2024)
The ZIP code 99030, with a population of 919, is primarily a homeowner-dominated area where only 4.7% of residents are renters. This indicates that the demand for rental properties using Section 8 vouchers is relatively low compared to areas with higher percentages of renters. The median household income stands at $86,250, which provides a basis for understanding the financial capabilities of potential tenants.
In terms of affordability, the market rent of $992 represents approximately 1.15% of the median household income when calculated monthly. This means that typical rent consumes a smaller portion of local incomes, making it easier for most residents to afford housing without needing assistance. However, comparing the market rent to the Fair Market Rent (FMR) of $1,140 (for FY 2024), we see that the actual rents are slightly below the FMR, indicating a modestly affordable rental market relative to the federal standards.
A landlord in ZIP 99030 should expect tenants who are likely to be financially stable due to the high median income. These tenants may not necessarily rely on Section 8 vouchers since the overall number of renters is low. However, those who do use vouchers will still benefit from the slightly lower-than-FMR rental rates, allowing them to manage their housing costs effectively while having additional funds available for other living expenses.
To summarize, ZIP 99030 is not a renter-heavy area with deep voucher demand but rather a place where homeownership is prevalent. Landlords can anticipate a mix of tenants, some of whom might utilize Section 8 vouchers, though the majority will likely have the means to pay market rent without assistance. The current market conditions support a stable rental environment, with rents being manageable for both voucher recipients and non-voucher tenants alike.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.