Location: Klickitat 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 | $2,150 |
| 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 | $311,358 | 0.45% | F |
| 3BR | $1,870 | $397,395 | 0.47% | F |
| 4BR | $2,150 | $535,393 | 0.4% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 99350 (Prosser, WA) does not favor landlords. The Fair Market Rent (FMR) set at $1220 for the fiscal year 2024 is notably higher than the actual market rent of $983, as reported by the Census Bureau's American Community Survey. This discrepancy suggests that landlords may struggle to find tenants willing to pay the higher subsidized rate.
Acquisition in this area is moderately affordable, with a median home value of $420,814. However, the lack of data on days on market (DOM) and the low 0.3% share of homes experiencing price cuts indicate a stable but not particularly dynamic housing market. This stability can be beneficial for long-term investments but might limit quick returns or flipping opportunities.
Tenant demand is present but not overwhelming. With a total population of 14,837, the 36.3% renter share translates to approximately 5,376 renters. While this number represents a significant portion of the local market, it also implies that nearly two-thirds of the population owns their homes, potentially limiting the pool of potential tenants.
In summary, ZIP 99350 presents a mixed picture for landlords and small-portfolio investors. The mismatch between FMR and market rents poses a challenge for attracting tenants through Section 8. Acquisition costs are reasonable, and the housing market is stable, but these factors must be weighed against the moderate tenant demand. Landlords should carefully consider these aspects before investing in this area.
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.