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Snohomish County/Edmonds/98020

98020

ZIPSAFMR
Snohomish County, WA
Zillow

ZIP Investment Score

38Below average

095130300
BRFMR
Eff. Rent
0 BR$1,980$1,610
1 BR$2,060$2,070
2 BR$2,410$2,580
3 BR$3,140$3,040
4 BR$3,740$3,810
5 BR$4,301Not available
6 BR$4,946Not available
7 BR$5,688Not available
8 BR$6,541Not available

Purchase Price Calculator

Maximum purchase price
$321,470

Cost breakdown

+Likely effective rent$2,580
HUD FMR$2,410
Market rent$2,670
Est. payment standard (107%)Used$2,580
-Principal and interest-$1,626
Loan amount$257,176
Down payment$64,294
Rate6.50%
Term30 years
-Operating costs-$754
Property taxes-$321
Insurance-$175
Utilities$0
HOA$0
Management-$258
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$41,132(64.0% ROI)
Projected value
$346,189
Return breakdown
Property appreciation+$24,718
Loan principal paid down+$9,214
Rental cash flow+$7,200
5-year hold
+$70,675(109.9% ROI)
Projected value
$363,714
Return breakdown
Property appreciation+$42,244
Loan principal paid down+$16,431
Rental cash flow+$12,000
10-year hold
+$153,191(238.3% ROI)
Projected value
$411,509
Return breakdown
Property appreciation+$90,039
Loan principal paid down+$39,152
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.23
1 BR
1.00
2 BR
0.90
3 BR
1.03
4 BR
0.97
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 98020 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98020 (Edmonds, WA) is $2,410 a month. That is up 1.3% from $2,380 in FY 2026. Edmonds 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 42 ZIP codes in Snohomish County, 98020 has the 15th-highest two-bedroom rent (county range $1,950–$3,480). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98020 is 64% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98020
BedroomsFY 2027Change90–110% range
Studio$1,980+0.5%$1,782–$2,178
1BR$2,060+1.0%$1,854–$2,266
2BR$2,410+1.3%$2,169–$2,651
3BR$3,140+1.0%$2,826–$3,454
4BR$3,740+2.2%$3,366–$4,114

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98020
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,980$2,060$2,410$3,140$3,740
FY 2026$1,970$2,040$2,380$3,110$3,660
FY 2025$2,180$2,230$2,600$3,430$4,000
FY 2024$2,180$2,240$2,610$3,460$4,030
FY 2023$2,070$2,130$2,490$3,340$3,900

Two-bedroom rent in nearby Snohomish County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98020
98011$2,750+14.1%
98012$2,780+15.4%
98019$3,480+44.4%
98020Current$2,410—
98021$3,170+31.5%
98026$2,370−1.7%
98028$2,510+4.1%
98036$2,170−10.0%
98037$2,330−3.3%
98043$2,420+0.4%
98046$2,380−1.2%
98072$2,870+19.1%

Questions about ZIP 98020 rents

How much will Section 8 pay for a two-bedroom in ZIP 98020?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,410, that basic range is $2,169 to $2,651 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 98020 in?

ZIP 98020 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 98020 for FY 2027?

The two-bedroom FMR rose 1.3%, from $2,380 in FY 2026 to $2,410 in FY 2027. Since FY 2023 it has fallen 3.2%.

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