Location: Ferry County, WA | Metro: Stevens County, WA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $810 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,090 |
| 3 Bedrooms | $1,510 |
| 4 Bedrooms | $1,830 |
| 5 Bedrooms | $2,123 |
| 6 Bedrooms | $2,378 |
| 7 Bedrooms | $2,568 |
| 8 Bedrooms | $2,696 |
U.S. Census Bureau data (2024)
In ZIP code 99160, there are several factors that could present challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern due to the disparity between the market rent of $483 and the Fair Market Rent (FMR) set at $960 for fiscal year 2024. This gap suggests that tenants might prefer higher-quality housing outside of Section 8, leading to frequent changes in occupancy and associated costs.
Vacancy exposure is another critical issue. With no available data on the number of days on market (DOM), it's challenging to predict how long units might remain vacant. A prolonged vacancy can significantly impact cash flow, especially when operating margins are already tight due to lower market rents compared to the FMR.
The deferred maintenance exposure is also noteworthy. Given the lack of specific data on typical home values and median incomes, landlords must be prepared for potential maintenance issues that might arise. Properties in this area could require substantial investments to meet the standards required by Section 8 programs, which can add to the overall cost of ownership.
However, these risks are somewhat mitigated by the high renter share of 45.6%. A large proportion of renters typically translates into higher demand for rental properties, including those participating in the Section 8 program. This increased demand can help ensure that units are occupied more consistently, reducing the likelihood of extended vacancies.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 99160 is moderate. While there are notable challenges, the high renter share offers a buffer against some of the risks involved.
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.