Location: Whitman County, WA | Metro: Whitman County, WA
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 | $760 |
| 1 Bedroom | $860 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,820 |
| 5 Bedrooms | $2,111 |
| 6 Bedrooms | $2,364 |
| 7 Bedrooms | $2,553 |
| 8 Bedrooms | $2,681 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,090 | $234,231 | 0.47% | F |
| 3BR | $1,510 | $324,729 | 0.47% | F |
| 4BR | $1,820 | $377,825 | 0.48% | F |
| 5BR | $2,111 | $443,071 | 0.48% | F |
U.S. Census Bureau data (2024)
The classification of ZIP 99111, Colfax, WA, reveals a market that falls into the category of moderate yield and moderate stability. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 is projected at $1,060, while the market rent stands at $953. This indicates a rental market where yields are decent but not exceptionally high.
A key factor in assessing yield is the home value, which in Colfax is $312,164. Given the FMR and market rent figures, an investor would expect a reasonable return on investment, albeit not the highest possible. The discrepancy between the FMR and the market rent suggests that there is room for slight increases in rental rates without being too far above what is considered fair market value.
In terms of stability, the percentage of renters in the area is 27.1%, indicating a modest demand for rentals. However, the lack of data on days on market (DOM) makes it difficult to fully assess the turnover rate and thus the stability of cash flow. The median household income of $73,393 provides some assurance that tenants can afford rent payments, contributing to a stable rental environment.
While the yield is not the highest due to the relatively lower FMR and market rent compared to home values, the stability is also not at the peak level because of the limited renter population and incomplete data on DOM. Therefore, Colfax does not represent a high-yield/low-stability flip-style market nor a steady-cashflow zone. Instead, it presents a scenario where investors can achieve moderate returns with a reasonable level of stability, making it suitable for those looking for balanced investment opportunities.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.