Location: Whitman County, WA | Metro: Whitman County, WA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $1,000 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,760 |
| 4 Bedrooms | $2,120 |
| 5 Bedrooms | $2,459 |
| 6 Bedrooms | $2,754 |
| 7 Bedrooms | $2,974 |
| 8 Bedrooms | $3,123 |
The market analysis for Section 8 investors targeting ZIP code 99104 in Whitman County, Washington, reveals a unique set of conditions that require careful consideration. The HUD Fair Market Rent (FMR) for the area is set at $1,170 per month for the fiscal year 2026. However, the current market rent data is not available, which makes direct comparisons challenging.
To determine the viability of voucher tenants at the FMR, we must consider the typical rental rates in the area. Given the lack of recent market rent data, it's critical to assess the historical trends and local economic factors that might influence rental pricing. If past trends indicate rental rates below or around the FMR, voucher tenants would likely cashflow at the FMR level. Otherwise, they may only cashflow with premium units or at slightly above average rents.
The median home value in ZIP 99104 is also not available, making it difficult to calculate an exact rent-to-price ratio. However, understanding this ratio is crucial for investors looking to gauge the relative affordability of renting versus buying in the area. Without specific figures, we can infer that if home values are significantly higher than the median rent, renting becomes more attractive, potentially leading to increased demand for rental properties.
The days on market (DOM) and price-cut share percentages are currently unavailable, but these metrics are essential for understanding how quickly properties sell and the extent to which sellers must reduce their asking prices. High DOM and significant price cuts suggest a buyer's market where renting could be more stable and profitable.
The strongest angle for investors in ZIP 99104 is likely to be cashflow. With the FMR set at $1,170 and assuming the market rent does not exceed this figure significantly, voucher tenants can provide steady income. The absence of market rent data means there's potential for rental rates to remain favorable, allowing investors to maintain positive cashflow without relying heavily on property appreciation or stability alone.
Data Sources: FMR data from HUD (2027).
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.