FMR is near market; voucher and private rents are aligned.
1.08
2 BR
2 BR- 98050
0.96ratio
FMR$2,960
Market$3,070
vs market-$110
FMR is near market; voucher and private rents are aligned.
0.96
3 BR
3 BR- 98050
1.10ratio
FMR$3,860
Market$3,500
vs market+$360
FMR is above market; underwrite to market rent.
1.10
4 BR
4 BR- 98050
1.11ratio
FMR$4,590
Market$4,120
vs market+$470
FMR is above market; underwrite to market rent.
1.11
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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Preston, WA fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Preston, WA is $2,960 a month. That is up 8.8% from $2,720 in FY 2026. Preston is in the Seattle-Bellevue, WA HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Washington is $1,467, so Preston is 102% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Preston, WA
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,250
$2,430
+8.0%
$2,187–$2,673
1BR
$2,340
$2,530
+8.1%
$2,277–$2,783
2BR
$2,720
$2,960
+8.8%
$2,664–$3,256
3BR
$3,560
$3,860
+8.4%
$3,474–$4,246
4BR
$4,180
$4,590
+9.8%
$4,131–$5,049
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Preston, WA
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,430
$2,530
$2,960
$3,860
$4,590
FY 2026
$2,250
$2,340
$2,720
$3,560
$4,180
FY 2025
$2,290
$2,340
$2,730
$3,600
$4,190
FY 2024
$2,260
$2,320
$2,700
$3,580
$4,170
FY 2023
$2,320
$2,390
$2,790
$3,750
$4,380
Questions about Preston, WA rents
How much will Section 8 pay for a two-bedroom in Preston, WA?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,960, that basic range is $2,664 to $3,256 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Preston, WA in?
Preston, WA is in the Seattle-Bellevue, WA HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Preston, WA for FY 2027?
The two-bedroom FMR rose 8.8%, from $2,720 in FY 2026 to $2,960 in FY 2027. Since FY 2023 it has risen 6.1%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set