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King County/Bellevue/98007

98007

ZIPSAFMR
King County, WA
Zillow

ZIP Investment Score

45Below average

095130300
BRFMR
Eff. Rent
0 BR$2,490$1,910
1 BR$2,590$2,060
2 BR$3,030$2,950
3 BR$3,950$3,630
4 BR$4,700$4,310
5 BR$5,405Not available
6 BR$6,216Not available
7 BR$7,148Not available
8 BR$8,220Not available

Purchase Price Calculator

Maximum purchase price
$376,452

Cost breakdown

+Likely effective rent$2,950
HUD FMR$3,030
Market rentUsed$2,950
Est. payment standard (98%)$2,980
-Principal and interest-$1,904
Loan amount$301,162
Down payment$75,290
Rate6.50%
Term30 years
-Operating costs-$846
Property taxes-$376
Insurance-$175
Utilities$0
HOA$0
Management-$295
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$46,936(62.3% ROI)
Projected value
$405,398
Return breakdown
Property appreciation+$28,946
Loan principal paid down+$10,790
Rental cash flow+$7,200
5-year hold
+$80,710(107.2% ROI)
Projected value
$425,921
Return breakdown
Property appreciation+$49,469
Loan principal paid down+$19,241
Rental cash flow+$12,000
10-year hold
+$175,287(232.8% ROI)
Projected value
$481,891
Return breakdown
Property appreciation+$105,438
Loan principal paid down+$45,848
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.30
1 BR
1.26
2 BR
1.03
3 BR
1.09
4 BR
1.09
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 98007 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98007 (Bellevue, WA) is $3,030 a month. That is unchanged from FY 2026. Bellevue 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. Among 120 ZIP codes in King County, 98007 is tied for the 19th-highest two-bedroom rent (county range $1,950–$3,820). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98007 is 107% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98007
BedroomsFY 2027Change90–110% range
Studio$2,490−0.8%$2,241–$2,739
1BR$2,590−0.4%$2,331–$2,849
2BR$3,0300.0%$2,727–$3,333
3BR$3,950−0.3%$3,555–$4,345
4BR$4,700+0.9%$4,230–$5,170

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98007
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,490$2,590$3,030$3,950$4,700
FY 2026$2,510$2,600$3,030$3,960$4,660
FY 2025$2,650$2,710$3,160$4,170$4,860
FY 2024$2,570$2,630$3,070$4,070$4,740
FY 2023$2,420$2,490$2,910$3,910$4,560

Two-bedroom rent in nearby King County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98007
98001$2,600−14.2%
98002$2,040−32.7%
98003$2,240−26.1%
98004$3,820+26.1%
98005$2,950−2.6%
98006$3,560+17.5%
98007Current$3,030—
98008$3,270+7.9%
98009$2,600−14.2%
98010$2,590−14.5%
98011$2,750−9.2%
98014$2,650−12.5%

Questions about ZIP 98007 rents

How much will Section 8 pay for a two-bedroom in ZIP 98007?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,030, that basic range is $2,727 to $3,333 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 ZIP 98007 in?

ZIP 98007 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 ZIP 98007 for FY 2027?

The two-bedroom FMR was unchanged at $3,030 in FY 2027. Since FY 2023 it has risen 4.1%.

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

County fair market rentBellevue, WA fair market rentWA statewide rentsWhat is SAFMR?Data sources