Location: Spokane, WA | Metro: Spokane, WA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,110 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,490 |
| 3 Bedrooms | $2,040 |
| 4 Bedrooms | $2,490 |
| 5 Bedrooms | $2,888 |
| 6 Bedrooms | $3,235 |
| 7 Bedrooms | $3,494 |
| 8 Bedrooms | $3,669 |
ZIP code 99213 is positioned within the Spokane, WA HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 99213 in fiscal year 2024 is set at $1300. This figure serves as a benchmark for comparing rental costs across different areas within the same metropolitan region.
While the market rent and home values for ZIP 99213 are currently not available, we can infer its status within the Spokane, WA HUD Metro FMR Area based on the FMR alone. The FMR of $1300 suggests that 99213 is likely a mid-tier neighborhood. Typically, in the Spokane area, FMRs range from lower values indicating more affordable housing options to higher values reflecting premium sub-markets. An FMR of $1300 places it squarely in the middle, neither at the bottom nor at the top of the affordability spectrum.
The lack of specific data on market rent and home values makes it challenging to provide a precise comparison against other ZIP codes within the same metro area. However, the absence of such data could indicate that 99213 is less developed or has a smaller population compared to other areas, which might also contribute to its mid-tier status.
Regarding the percentage of renters, the data is also not available for ZIP 99213. A high renter share with below-average home values often indicates an attractive area for Section 8 participants, as it suggests a concentration of affordable rental properties. But without this information, we cannot determine if 99213 fits into this category.
In summary, ZIP 99213 appears to be a mid-tier neighborhood within the Spokane, WA HUD Metro FMR Area, based on its FMR of $1300. It lacks specific market data points that would help classify it further as a value pocket or a premium sub-market. Landlords and small-portfolio investors should consider this ZIP code as a moderate investment opportunity, aligning with the broader trends of the Spokane metropolitan area.
Data Sources: FMR data from HUD (2027).
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.