Location: Stevens County, WA | Metro: Stevens County, WA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $950 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,290 |
| 3 Bedrooms | $1,790 |
| 4 Bedrooms | $2,160 |
| 5 Bedrooms | $2,506 |
| 6 Bedrooms | $2,807 |
| 7 Bedrooms | $3,032 |
| 8 Bedrooms | $3,184 |
U.S. Census Bureau data (2024)
The rent math for ZIP 99040 does not work in favor of landlords. The Fair Market Rent (FMR) set by HUD for the fiscal year 2024 is $910, while the actual market rent based on Census ACS data stands at $427. This discrepancy indicates that landlords would be overpricing their properties if they aimed to meet the HUD FMR, thus making it challenging to attract tenants willing to pay the higher rent.
Acquisition in ZIP 99040 is not feasible due to insufficient data. The median home value is listed as N/A, indicating a lack of comprehensive information on property values. Similarly, the days on market (DOM) and the percentage of homes requiring price cuts are also marked as N/A, suggesting a scarcity of recent sales data. Without these key metrics, it's impossible to accurately gauge the affordability of acquiring rental properties in this area.
Tenant demand in ZIP 99040 is low. With a total population of 536, only 27.7% are renters. This translates to approximately 148 potential tenants in the area. Given the small number of residents and the limited proportion of renters, the pool of prospective tenants is shallow, which could lead to vacancies and difficulty in maintaining consistent occupancy rates.
Verdict: ZIP 99040 is not a viable investment for landlords or small-portfolio investors due to unfavorable rent math, unaffordable acquisition costs based on available data, and low tenant demand. The HUD FMR is significantly above the market rate, and the limited number of renters suggests a challenging environment for sustaining rental income. Landlords should consider other areas with more favorable conditions for rental investments.
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.