Location: Grant County, WA | Metro: Grant County, WA
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 | $970 |
| 1 Bedroom | $980 |
| 2 Bedrooms | $1,280 |
| 3 Bedrooms | $1,740 |
| 4 Bedrooms | $2,140 |
| 5 Bedrooms | $2,482 |
| 6 Bedrooms | $2,780 |
| 7 Bedrooms | $3,002 |
| 8 Bedrooms | $3,152 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $1,740 | $339,320 | 0.51% | F |
U.S. Census Bureau data (2024)
The ZIP code 99357 is located in a small-town setting characterized by a modest population of 3,843 residents. The area reflects a significant rental market presence, with 41.7% of the population being renters. This indicates a community where a considerable portion of the residents do not own their homes, which could be due to various factors including affordability or lifestyle preferences. The median income in the area stands at $57,034, suggesting a middle-class demographic. The median home value is notably higher at $348,603, indicating that homeownership is a significant aspiration or reality for those who can afford it.
Moving into the economic dynamics of renting, the Fair Market Rent (FMR) for the metro area in fiscal year 2026 is set at $1,080. In contrast, the actual market rent as reported by the Census ACS is $758. This discrepancy between the FMR and the market rent presents an opportunity for landlords and small-portfolio investors. The FMR serves as a benchmark for rental subsidies under the Section 8 program, meaning that properties renting below this figure can still attract tenants through the voucher program while offering a lower cost to the landlord.
Given these conditions, ZIP 99357 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the lower market rents compared to the FMR mean that they can participate in the Section 8 program without significantly reducing their profit margins. They can maintain properties at a basic standard, relying on the voucher program to fill vacancies and ensure steady cash flow.
On the other hand, hands-on value-add buyers can leverage the gap between the FMR and the market rent to improve property values and rents. By investing in renovations or upgrades, they can potentially increase the rental price closer to the FMR, thereby maximizing returns while still being attractive to Section 8 participants.
In conclusion, ZIP 99357 offers a balanced environment for Section 8 investments, with a substantial rental market and a mix of economic conditions that favor both passive and active management strategies. Whether choosing a hands-off approach or seeking to add value, the potential for success is clear given the economic parameters.
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.