Location: Pend Oreille County, WA | Metro: Pend Oreille County, WA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $940 |
| 2 Bedrooms | $1,220 |
| 3 Bedrooms | $1,620 |
| 4 Bedrooms | $2,030 |
| 5 Bedrooms | $2,355 |
| 6 Bedrooms | $2,638 |
| 7 Bedrooms | $2,849 |
| 8 Bedrooms | $2,991 |
U.S. Census Bureau data (2024)
The ZIP code 99180 presents a unique set of challenges and opportunities for landlords and small-portfolio investors. Let's address some common concerns.
Objection 1: Will Fair Market Rent (FMR) of $1,090 (metro FY 2026) cover the mortgage on a home in 99180?
The median home value in ZIP 99180 is $150,000, which suggests a relatively affordable market. However, the median sales price has been recorded at $215,000, indicating a higher potential purchase price for homes. Based on these figures, a mortgage payment on a $215,000 home could be around $1,000-$1,100 depending on interest rates and loan terms. Thus, the FMR of $1,090 would likely cover the mortgage, but it's crucial to factor in additional costs such as property taxes, insurance, and maintenance.
Objection 2: Is there enough renter demand at a 7.3% vacancy rate?
A 7.3% vacancy rate is generally considered healthy and indicates a balanced market where there is sufficient demand for rentals. This rate suggests that landlords can expect reasonable occupancy levels without significant competition for tenants. However, the specific number of rental properties in 99180 isn't provided, so we cannot definitively assess the overall demand. It's important to consider that a low vacancy rate can also mean that rental properties are in high demand, potentially allowing for higher rents.
Objection 3: Will vouchers keep pace with market rents in 99180?
The Housing Choice Voucher (HCV) program's ability to cover market rents depends on the local HUD funding and policy adjustments. While the FMR is set at $1,090, the actual amount paid by vouchers can vary. For ZIP 99180, the data does not specify the exact voucher payment amounts. Therefore, it's uncertain if the voucher payments will fully cover the market rents. Landlords should monitor local HUD updates and consider the potential for partial coverage when accepting vouchers.
In conclusion, while 99180 offers an opportunity for rental investments with fair market rents covering mortgages and a balanced vacancy rate, uncertainties remain regarding the precise impact of vouchers on rental income. Careful monitoring of local real estate and HUD trends is recommended to make informed investment decisions.
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.