Section 8 Fair Market Rent (FMR) for ZIP 99034 - 2027
Location: Stevens County, WA | Metro: Stevens County, WA HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,030 |
| 1 Bedroom | $1,070 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,280 |
| 5 Bedrooms | $2,645 |
| 6 Bedrooms | $2,962 |
| 7 Bedrooms | $3,199 |
| 8 Bedrooms | $3,359 |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$N/A
To determine if you should buy in ZIP code 99034 for Section 8 investments, follow this decision tree:
- 1) Does the Fair Market Rent (FMR) of $1140 cover the debt service on a property?
- Yes: If the FMR of $1140 can fully cover the debt service, including mortgage payments and other financing costs, then this is a positive indicator for purchasing a property in this area.
- No: If the FMR does not cover the debt service, purchasing a property in ZIP 99034 would not be advisable as it could result in financial losses.
- 2) How does the market rent compare to the FMR?
- Above FMR: If the market rent is higher than the FMR of $1140, this suggests that there is potential for additional income beyond what is guaranteed by the Section 8 program. However, this also means that tenants might find it difficult to afford the rent, which could affect occupancy rates.
- At FMR: If the market rent is exactly at the FMR, it indicates that the property will likely generate income consistent with the program's limits, without any significant surplus or deficit.
- Below FMR: If the market rent is below the FMR, it could mean that the property will still be competitive in the rental market, but it also implies that the landlord might not receive the maximum subsidy amount available under the Section 8 program.
- 3) Is there sufficient demand based on the percentage of renters and the days on market (DOM)?
- 77.3% Renters + N/A-day DOM: With 77.3% of the population being renters, there is strong demand for rental properties. However, the absence of DOM data makes it challenging to assess how quickly properties are rented out. If the DOM is low, indicating fast turnover, this is favorable for Section 8 investment. If DOM is high, it suggests slower demand and might not be as attractive.
The decision to invest in ZIP 99034 for Section 8 purposes hinges on these factors. If the FMR covers your debt service and the market rent aligns favorably with the FMR, while there is a high percentage of renters, the investment is likely to be successful. However, without specific DOM data, the final assessment of demand remains incomplete.
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.