Location: Kennewick-Richland, WA | Metro: Kennewick-Richland, WA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,150 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,150 |
| 5 Bedrooms | $2,494 |
| 6 Bedrooms | $2,793 |
| 7 Bedrooms | $3,016 |
| 8 Bedrooms | $3,167 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,390 | $302,295 | 0.46% | F |
| 3BR | $1,870 | $405,242 | 0.46% | F |
| 4BR | $2,150 | $564,207 | 0.38% | F |
U.S. Census Bureau data (2024)
Benton City, WA, located in ZIP code 99320, stands out within Benton County due to its unique demographic and economic characteristics. With a population of 9,879 residents, only 14.7% of whom rent their homes, the area has a strong homeownership culture. The median income in Benton City is $90,102, reflecting a middle-class community. However, the median home value is significantly higher at $427,989, indicating that housing costs are relatively high compared to other areas.
The voucher economics in Benton City reveal a substantial gap between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR for a one-bedroom apartment is set at $1520, while the Census ACS data shows the average market rent at just $881. This discrepancy means that landlords participating in the Section 8 program can expect higher rental incomes, making it a potentially attractive option for property owners in this ZIP code. The higher FMR provides an opportunity for landlords to receive additional subsidies, which can help offset the higher cost of living and maintenance in the area.
Given the data signature, Benton City appears to be a stable ZIP code with a solid foundation in homeownership and a comfortable median income. The significant difference between the FMR and market rent suggests that there is room for growth in the rental market, particularly for those willing to engage with the Section 8 program. This stability combined with the potential for higher rental incomes through Section 8 vouchers makes Benton City an appealing location for both landlords and small-portfolio investors looking to capitalize on government assistance programs while maintaining a steady stream of income.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.