Location: Spokane, 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 ZIP code 99039 stands out due to its unique demographic profile and economic conditions. With only 166 residents, it has one of the smallest populations among the ZIP codes analyzed. The rental market is notably small, with just 8.3% of residents renting their homes. This low percentage suggests that homeownership is predominant, although the median home value is not available, indicating potential data limitations or variability in property values.
The median income for residents in ZIP 99039 is $65,909, which is relatively modest compared to other areas. Despite the limited rental market, the voucher economics present an interesting opportunity. The Fair Market Rent (FMR) for ZIP 99039 in fiscal year 2024 is set at $1080, slightly above the estimated market rent of $1,000 according to Census ACS data. This means that landlords participating in the Section 8 program can expect a slight premium over the typical market rates, making it a potentially attractive option for those looking to stabilize their tenant base and ensure steady rental income.
Given the small population and high homeownership rate, the overall economic landscape of ZIP 99039 reads as stable. However, the dynamics of the rental market and the impact of Section 8 vouchers could introduce transitional elements, particularly if there is an increase in the number of renters or changes in local housing policies. Landlords should be aware of these factors when considering participation in the Section 8 program.
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.