Location: Grant County, 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 | $2,210 |
| 5 Bedrooms | $2,564 |
| 6 Bedrooms | $2,872 |
| 7 Bedrooms | $3,102 |
| 8 Bedrooms | $3,257 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,390 | $261,496 | 0.53% | F |
| 3BR | $1,870 | $335,141 | 0.56% | F |
| 4BR | $2,210 | $418,597 | 0.53% | F |
| 5BR | $2,564 | $521,456 | 0.49% | F |
U.S. Census Bureau data (2024)
The ZIP code 99344, located in Othello, WA within the Grant County, WA metro, presents a unique profile when compared against typical ZIP codes in the same county. The Fair Market Rent (FMR) for 99344 in fiscal year 2024 is set at $1420, which is higher than the average market rent of $925. This discrepancy suggests that while the government's rental subsidy threshold is relatively generous, actual market rents are lower, potentially indicating a value pocket where subsidized tenants can find affordable housing.
The median home value in 99344 stands at $338,400. This figure is likely reflective of the overall housing market in Grant County, but without specific metro-wide data, it's difficult to determine if this is above or below the county average. However, given the lower market rent, it might suggest that home values in 99344 are comparable or slightly below the average for the county, making it attractive for both landlords and small-portfolio investors looking for properties that offer a balance between affordability and value.
The renter share in 99344 is 34.1%, which is notably higher than the typical share for many ZIP codes in Grant County. This high proportion of renters, coupled with the below-average market rent, could signal an area that is particularly suitable for Section 8 participation. High renter share with relatively lower home values often points to a sweet spot for Section 8 investments, as it indicates a robust demand for affordable rentals.
To summarize, 99344 appears to be a value pocket within the Grant County, WA metro, offering a favorable environment for landlords and small-portfolio investors interested in Section 8 housing. The combination of a higher FMR, lower market rents, and a significant renter share makes it an area where subsidized tenants can find homes within their budget, while still providing reasonable returns on investment for property owners.
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.