Location: Stevens County, WA | Metro: Stevens County, WA HUD Metro FMR Area
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 | $860 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,560 |
| 4 Bedrooms | $1,890 |
| 5 Bedrooms | $2,192 |
| 6 Bedrooms | $2,455 |
| 7 Bedrooms | $2,651 |
| 8 Bedrooms | $2,784 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $880 | $259,238 | 0.34% | F |
| 2BR | $1,130 | $292,406 | 0.39% | F |
| 3BR | $1,560 | $374,622 | 0.42% | F |
| 4BR | $1,890 | $415,860 | 0.45% | F |
| 5BR | $2,192 | $477,703 | 0.46% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 99114 in Colville, WA, for fiscal year 2024 is set at $920. This figure represents the maximum amount that a landlord can charge for a Section 8 rental unit in this area. It's important to note that this is not the same as the actual rent you would receive from tenants; rather, it's the payment standard used by the Housing Choice Voucher program to determine the subsidy amount.
To put this into perspective, the average rent for a two-bedroom apartment in Colville, WA, based on recent Census American Community Survey (ACS) data, is approximately $999. This means that if you're participating in the Section 8 program, your rental income will be capped at $920 per month for a two-bedroom unit, which is slightly below the market rate.
The rental share in Colville, WA, stands at 28.3%. This indicates that nearly one-third of the households in the area are renters, suggesting a steady demand for rental properties. If you're considering entering the Section 8 market, this demand can be seen as a positive sign, as it increases the likelihood of finding tenants who qualify for the program.
When looking to acquire a property in ZIP 99114 for a Section 8 rental, the median home value is around $333,662. This figure represents the typical price you might expect to pay for a property in this area. Given the FMR and the local rental prices, it's crucial to ensure that the potential rental income, combined with the voucher subsidy, will cover your mortgage payments, maintenance costs, and other expenses associated with owning and managing a rental property.
Before making the decision to accept a Section 8 tenant, verify that the property meets all the necessary inspection criteria. The Housing Authority conducts inspections to ensure that the rental unit is safe, decent, and sanitary. Failure to meet these standards could result in disqualification from the program, leading to financial losses. Ensure that the property is up to code and ready for occupancy to avoid any issues.
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.