Location: Grant County, WA | Metro: Wenatchee-East Wenatchee, WA MSA
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 | $940 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,860 |
| 4 Bedrooms | $2,270 |
| 5 Bedrooms | $2,633 |
| 6 Bedrooms | $2,949 |
| 7 Bedrooms | $3,185 |
| 8 Bedrooms | $3,344 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,350 | $264,316 | 0.51% | F |
| 3BR | $1,860 | $362,837 | 0.51% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 99115 does not favor landlords. The Fair Market Rent (FMR) set at $1140 for the fiscal year 2024 is significantly higher than the actual market rent of $725 reported by the Census ACS. This discrepancy means that landlords may struggle to find tenants willing to pay the higher FMR rate, leading to potential vacancies.
Acquisition in ZIP 99115 is challenging due to the high median home value of $299,927. With no available data on days on market (DOM) or the percentage of homes that required price cuts, it's difficult to gauge how quickly homes sell or if they require adjustments to attract buyers. However, the high median home value suggests that purchasing properties may be out of reach for many small-portfolio investors, especially given the limited population size and renter base.
Tenant demand in ZIP 99115 is modest. The area has a total population of 1,369, with 30.3% of residents being renters. While this indicates a stable renter share, the small overall population limits the pool of potential tenants, making it harder to sustain a steady stream of occupants.
In summary, while the renter share is consistent, the mismatch between the FMR and market rent, combined with the high median home value, makes ZIP 99115 less attractive for landlords and small-portfolio investors. The potential for financial strain due to lower-than-expected rental income and the challenge of acquiring properties at a premium price suggest caution when considering investment in this area.
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.