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King County/Mountlake Terrace/98043

98043

ZIPSAFMR
King County, WA
Zillow

ZIP Investment Score

64Below average

095130300
BRFMR
Eff. Rent
0 BR$1,990$1,700
1 BR$2,070$2,070
2 BR$2,420$2,430
3 BR$3,160$2,980
4 BR$3,750$3,620
5 BR$4,313Not available
6 BR$4,959Not available
7 BR$5,703Not available
8 BR$6,559Not available

Purchase Price Calculator

Maximum purchase price
$299,181

Cost breakdown

+Likely effective rent$2,430
HUD FMR$2,420
Market rent$2,430
Est. payment standard (100%)Used$2,430
-Principal and interest-$1,513
Loan amount$239,344
Down payment$59,836
Rate6.50%
Term30 years
-Operating costs-$717
Property taxes-$299
Insurance-$175
Utilities$0
HOA$0
Management-$243
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$38,779(64.8% ROI)
Projected value
$322,185
Return breakdown
Property appreciation+$23,004
Loan principal paid down+$8,575
Rental cash flow+$7,200
5-year hold
+$66,607(111.3% ROI)
Projected value
$338,495
Return breakdown
Property appreciation+$39,315
Loan principal paid down+$15,292
Rental cash flow+$12,000
10-year hold
+$144,233(241.0% ROI)
Projected value
$382,976
Return breakdown
Property appreciation+$83,796
Loan principal paid down+$36,437
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.17
1 BR
1.00
2 BR
1.00
3 BR
1.06
4 BR
1.04
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 98043 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98043 (Mountlake Terrace, WA) is $2,420 a month. That is up 0.8% from $2,400 in FY 2026. Mountlake Terrace 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, 98043 is tied for the 92nd-highest two-bedroom rent (county range $1,950–$3,820). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98043 is 65% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98043
BedroomsFY 2027Change90–110% range
Studio$1,9900.0%$1,791–$2,189
1BR$2,070+0.5%$1,863–$2,277
2BR$2,420+0.8%$2,178–$2,662
3BR$3,160+0.6%$2,844–$3,476
4BR$3,750+1.6%$3,375–$4,125

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98043
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,990$2,070$2,420$3,160$3,750
FY 2026$1,990$2,060$2,400$3,140$3,690
FY 2025$2,130$2,180$2,540$3,350$3,900
FY 2024$2,080$2,140$2,490$3,300$3,840
FY 2023$1,900$1,960$2,290$3,080$3,590

Two-bedroom rent in nearby King County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98043
98035$2,600+7.4%
98036$2,170−10.3%
98038$2,900+19.8%
98039$3,280+35.5%
98040$3,010+24.4%
98041$2,600+7.4%
98042$2,640+9.1%
98043Current$2,420—
98045$2,660+9.9%
98047$2,170−10.3%
98050$2,960+22.3%
98051$2,700+11.6%

Questions about ZIP 98043 rents

How much will Section 8 pay for a two-bedroom in ZIP 98043?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,420, that basic range is $2,178 to $2,662 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 98043 in?

ZIP 98043 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 98043 for FY 2027?

The two-bedroom FMR rose 0.8%, from $2,400 in FY 2026 to $2,420 in FY 2027. Since FY 2023 it has risen 5.7%.

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