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King County/Bellevue/98008

98008

ZIPSAFMR
King County, WA
Zillow

ZIP Investment Score

38Below average

095130300
BRFMR
Eff. Rent
0 BR$2,680$1,660
1 BR$2,800$2,070
2 BR$3,270$3,030
3 BR$4,260$3,450
4 BR$5,070$4,250
5 BR$5,831Not available
6 BR$6,705Not available
7 BR$7,711Not available
8 BR$8,867Not available

Purchase Price Calculator

Maximum purchase price
$388,340

Cost breakdown

+Likely effective rent$3,030
HUD FMR$3,270
Market rentUsed$3,030
Est. payment standard (95%)$3,110
-Principal and interest-$1,964
Loan amount$310,672
Down payment$77,668
Rate6.50%
Term30 years
-Operating costs-$866
Property taxes-$388
Insurance-$175
Utilities$0
HOA$0
Management-$303
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$48,190(62.0% ROI)
Projected value
$418,200
Return breakdown
Property appreciation+$29,860
Loan principal paid down+$11,131
Rental cash flow+$7,200
5-year hold
+$82,880(106.7% ROI)
Projected value
$439,371
Return breakdown
Property appreciation+$51,031
Loan principal paid down+$19,849
Rental cash flow+$12,000
10-year hold
+$180,064(231.8% ROI)
Projected value
$497,108
Return breakdown
Property appreciation+$108,768
Loan principal paid down+$47,296
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.61
1 BR
1.35
2 BR
1.08
3 BR
1.23
4 BR
1.19
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 98008 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98008 (Bellevue, WA) is $3,270 a month. That is up 3.5% from $3,160 in 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, 98008 has the 14th-highest two-bedroom rent (county range $1,950–$3,820). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98008 is 123% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98008
BedroomsFY 2027Change90–110% range
Studio$2,680+2.3%$2,412–$2,948
1BR$2,800+3.3%$2,520–$3,080
2BR$3,270+3.5%$2,943–$3,597
3BR$4,260+3.1%$3,834–$4,686
4BR$5,070+4.3%$4,563–$5,577

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98008
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,680$2,800$3,270$4,260$5,070
FY 2026$2,620$2,710$3,160$4,130$4,860
FY 2025$2,800$2,870$3,340$4,400$5,130
FY 2024$2,720$2,790$3,250$4,310$5,010
FY 2023$2,480$2,550$2,980$4,000$4,670

Two-bedroom rent in nearby King County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98008
98001$2,600−20.5%
98002$2,040−37.6%
98003$2,240−31.5%
98004$3,820+16.8%
98005$2,950−9.8%
98006$3,560+8.9%
98007$3,030−7.3%
98008Current$3,270—
98009$2,600−20.5%
98010$2,590−20.8%
98011$2,750−15.9%
98014$2,650−19.0%

Questions about ZIP 98008 rents

How much will Section 8 pay for a two-bedroom in ZIP 98008?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,270, that basic range is $2,943 to $3,597 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 98008 in?

ZIP 98008 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 98008 for FY 2027?

The two-bedroom FMR rose 3.5%, from $3,160 in FY 2026 to $3,270 in FY 2027. Since FY 2023 it has risen 9.7%.

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