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King County/Issaquah/98029

98029

ZIPSAFMR
King County, WA
Zillow

ZIP Investment Score

42Below average

095130300
BRFMR
Eff. Rent
0 BR$2,720$2,000
1 BR$2,830$2,290
2 BR$3,310$3,040
3 BR$4,320$3,540
4 BR$5,130$4,200
5 BR$5,899Not available
6 BR$6,784Not available
7 BR$7,802Not available
8 BR$8,972Not available

Purchase Price Calculator

Maximum purchase price
$389,826

Cost breakdown

+Likely effective rent$3,040
HUD FMR$3,310
Market rentUsed$3,040
Est. payment standard (95%)$3,130
-Principal and interest-$1,971
Loan amount$311,861
Down payment$77,965
Rate6.50%
Term30 years
-Operating costs-$869
Property taxes-$390
Insurance-$175
Utilities$0
HOA$0
Management-$304
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$48,347(62.0% ROI)
Projected value
$419,800
Return breakdown
Property appreciation+$29,974
Loan principal paid down+$11,173
Rental cash flow+$7,200
5-year hold
+$83,151(106.7% ROI)
Projected value
$441,053
Return breakdown
Property appreciation+$51,226
Loan principal paid down+$19,925
Rental cash flow+$12,000
10-year hold
+$180,662(231.7% ROI)
Projected value
$499,011
Return breakdown
Property appreciation+$109,184
Loan principal paid down+$47,477
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.36
1 BR
1.24
2 BR
1.09
3 BR
1.22
4 BR
1.22
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 98029 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98029 (Issaquah, WA) is $3,310 a month. That is unchanged from FY 2026. Issaquah 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, 98029 has the 11th-highest two-bedroom rent (county range $1,950–$3,820). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98029 is 126% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98029
BedroomsFY 2027Change90–110% range
Studio$2,720−0.7%$2,448–$2,992
1BR$2,830−0.4%$2,547–$3,113
2BR$3,3100.0%$2,979–$3,641
3BR$4,320−0.2%$3,888–$4,752
4BR$5,130+0.8%$4,617–$5,643

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98029
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,720$2,830$3,310$4,320$5,130
FY 2026$2,740$2,840$3,310$4,330$5,090
FY 2025$3,020$3,090$3,600$4,750$5,530
FY 2024$3,080$3,160$3,680$4,880$5,680
FY 2023$2,870$2,950$3,450$4,630$5,410

Two-bedroom rent in nearby King County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98029
98023$2,340−29.3%
98024$2,970−10.3%
98025$2,910−12.1%
98027$2,950−10.9%
98028$2,510−24.2%
98029Current$3,310—
98030$2,300−30.5%
98031$2,500−24.5%
98032$2,390−27.8%
98033$3,330+0.6%
98034$2,940−11.2%
98035$2,600−21.5%

Questions about ZIP 98029 rents

How much will Section 8 pay for a two-bedroom in ZIP 98029?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,310, that basic range is $2,979 to $3,641 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 98029 in?

ZIP 98029 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 98029 for FY 2027?

The two-bedroom FMR was unchanged at $3,310 in FY 2027. Since FY 2023 it has fallen 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 rentIssaquah, WA fair market rentWA statewide rentsWhat is SAFMR?Data sources