Section 8 Fair Market Rent (FMR) for ZIP 99214 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 99214 in Spokane County, Washington, presents a unique profile for Section 8 analysis. However, due to the lack of specific data on the number of residents, percentage renting, median income, and median home value, the economic landscape of this area remains somewhat opaque.

Despite these gaps, we can focus on the voucher economics, which provide some clarity. For fiscal year 2024, the Fair Market Rent (FMR) for ZIP 99214 is set at $1300. This figure is crucial for landlords and small-portfolio investors as it defines the maximum rental amount that can be subsidized by the government for low-income tenants. The FMR is often used as a benchmark for setting rents in subsidized housing programs, including Section 8. Without comparative market data, it's challenging to assess how this FMR stacks up against typical rental prices in the area. However, the $1300 FMR suggests a moderate rental market, likely influenced by the broader economic conditions of Spokane County.

When evaluating the stability of the data signature for ZIP 99214, the absence of key demographic and economic indicators makes it difficult to characterize the area definitively. Typically, a stable ZIP would show consistent trends in population growth, rental rates, and income levels over time. Conversely, a transitional ZIP might exhibit rapid changes in any of these metrics, possibly due to new developments, shifts in the local economy, or demographic changes. Given the incomplete data, the ZIP 99214 appears transitional, but further investigation into local real estate trends and economic activities would be necessary to confirm this assessment.

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.