Location: Spokane, WA | Metro: Spokane, WA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,070 |
| 1 Bedroom | $1,120 |
| 2 Bedrooms | $1,430 |
| 3 Bedrooms | $1,960 |
| 4 Bedrooms | $2,390 |
| 5 Bedrooms | $2,772 |
| 6 Bedrooms | $3,105 |
| 7 Bedrooms | $3,353 |
| 8 Bedrooms | $3,521 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 99212, which covers Spokane Valley, WA, and is part of Spokane County, are straightforward. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) for FY 2024 is set at $1310. This figure is specific to this ZIP code and reflects the maximum amount that the Section 8 program will pay for rent in this area. The local market rent, as indicated by ZORI (Zillow Rent Index), is higher at $1,639.
A landlord participating in the Section 8 program receives reimbursement based on the SAFMR, but it's important to understand how the total payment is calculated. The voucher holder typically pays 30% of their adjusted income towards rent, and the government pays the difference up to the SAFMR limit. Additionally, there are utility allowances that vary but can be significant. For instance, if a voucher holder has an adjusted income of $1,000 per month, they would pay $300 towards rent, leaving $1010 for the government to cover. If the utility allowance is $150, the total reimbursement a landlord could receive is $1160.
This means that for a two-bedroom apartment, the reimbursement gap is the difference between the local market rent and the SAFMR plus utility allowance. In ZIP 99212, the gap is $1,639 minus $1310, plus the utility allowance. Assuming a utility allowance of $150, the total reimbursement would be $1460, resulting in a gap of $179.
To summarize, landlords in ZIP 99212 who participate in the Section 8 program can expect to receive a reimbursement that covers up to $1310 of the rent for a two-bedroom unit, plus any applicable utility allowances. Given the local market rent of $1,639, landlords should prepare for a reimbursement that falls short of the market rate by $179, assuming a utility allowance of $150.
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.