Section 8 Fair Market Rent (FMR) for ZIP 99343 - 2027

Location: Kennewick-Richland, WA | Metro: Kennewick-Richland, WA MSA

FY 2027 Fair Market Rent Rates

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,215

Median Household Income

$59,451

Housing Units

807

Renter Percentage

34.7%

Occupancy Rate

100.0%

Renter Occupied

280

Housing Authorities Serving ZIP 99343

HA City of Pasco and Franklin County (Pasco, WA) - 377 Section 8 vouchers

The ZIP code 99343, located in Alaska, is a region characterized by its unique blend of natural beauty and rural living. The area offers a stable environment for both landlords and small-portfolio investors looking to capitalize on the local real estate market.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 99343 for fiscal year 2024 is set at $1210, indicating a moderate demand for rental properties.
The Census Bureau's American Community Survey (ACS) reports that the average market rent for the area is $1,122, slightly below the FMR but still reflective of a steady rental market.
The median home value in ZIP 99343 stands at $588,010, suggesting that homeownership is relatively expensive compared to the rental market.
Renters make up 34.7% of the housing market in this ZIP code, indicating a significant portion of the population relies on rental properties for housing.
Due to the limited availability of real estate data for this specific ZIP code, the number of days on the market (DOM) for rental listings could not be determined.
The median household income in ZIP 99343 is $59,451, which provides insight into the financial capabilities of potential tenants and buyers.

Investors considering entering the ZIP 99343 market should note the alignment between the FMR and market rent, signaling a balanced rental market. With a median home value significantly higher than the median income, the area leans towards a strong rental demand. The 34.7% renter share highlights the importance of rental properties in the community. Although the days on the market cannot be specified, the other data points suggest a viable investment opportunity for those willing to navigate the nuances of the Alaskan real estate market.

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.