Location: Spokane, WA | Metro: Spokane, WA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,020 |
| 1 Bedroom | $1,080 |
| 2 Bedrooms | $1,380 |
| 3 Bedrooms | $1,880 |
| 4 Bedrooms | $2,270 |
| 5 Bedrooms | $2,633 |
| 6 Bedrooms | $2,949 |
| 7 Bedrooms | $3,185 |
| 8 Bedrooms | $3,344 |
U.S. Census Bureau data (2024)
The dynamics of the ZIP 99258 rental market paint a picture of a market heavily skewed towards renters, with a strong indication that demand may be outpacing supply. The Fair Market Rent (FMR) for the area stands at $1300 for the fiscal year 2024, which serves as a benchmark for rental pricing. Despite the lack of specific market rent data, the fact that the FMR is set can imply that rental prices are regulated or influenced by government standards, possibly due to a high concentration of low-income residents or a significant presence of subsidized housing.
The 100.0% renter share statistic is particularly noteworthy. It suggests that there is a complete reliance on rental properties within this ZIP code, indicating a potential long-term housing pressure. This scenario often arises in areas where homeownership is less common due to various factors such as affordability issues, transient populations, or economic conditions that favor renting over buying.
In such a market, landlords and small-portfolio investors must remain vigilant about vacancy rates and competition among rental units. The absence of data on price-cut share and days on market (DOM) could mean that the market is relatively stable, with little need for drastic measures to attract tenants. However, it also points to a lack of transparency or detailed reporting in the local real estate market, which could be a challenge for investors looking to make informed decisions.
The median home value being listed as N/A further supports the inference that this ZIP code is predominantly a rental market. In areas where homeownership is minimal, it's less likely to have comprehensive data on home values, as they play a smaller role in the overall housing landscape.
In summary, ZIP 99258 presents a market dominated by renters, with the FMR serving as a critical price point. The total reliance on rental housing signals ongoing pressure on the availability and cost of living spaces, making it imperative for landlords to understand the local rental trends and maintain competitive offerings.
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.