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King County/North Bend/98045

98045

ZIPSAFMR
King County, WA
Zillow

ZIP Investment Score

58Below average

095130300
BRFMR
Eff. Rent
0 BR$2,180$2,270
1 BR$2,270$2,300
2 BR$2,660$2,840
3 BR$3,470$3,510
4 BR$4,130$4,180
5 BR$4,750Not available
6 BR$5,462Not available
7 BR$6,281Not available
8 BR$7,223Not available

Purchase Price Calculator

Maximum purchase price
$360,106

Cost breakdown

+Likely effective rent$2,840
HUD FMR$2,660
Market rent$2,930
Est. payment standard (107%)Used$2,840
-Principal and interest-$1,821
Loan amount$288,085
Down payment$72,021
Rate6.50%
Term30 years
-Operating costs-$819
Property taxes-$360
Insurance-$175
Utilities$0
HOA$0
Management-$284
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$45,210(62.8% ROI)
Projected value
$387,795
Return breakdown
Property appreciation+$27,689
Loan principal paid down+$10,321
Rental cash flow+$7,200
5-year hold
+$77,727(107.9% ROI)
Projected value
$407,427
Return breakdown
Property appreciation+$47,321
Loan principal paid down+$18,406
Rental cash flow+$12,000
10-year hold
+$168,718(234.3% ROI)
Projected value
$460,967
Return breakdown
Property appreciation+$100,860
Loan principal paid down+$43,858
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.94
1 BR
0.98
2 BR
0.91
3 BR
0.98
4 BR
0.98
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 98045 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98045 (North Bend, WA) is $2,660 a month. That is unchanged from FY 2026. North Bend 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, 98045 has the 41st-highest two-bedroom rent (county range $1,950–$3,820). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98045 is 81% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98045
BedroomsFY 2027Change90–110% range
Studio$2,180−1.4%$1,962–$2,398
1BR$2,270−0.4%$2,043–$2,497
2BR$2,6600.0%$2,394–$2,926
3BR$3,470−0.3%$3,123–$3,817
4BR$4,130+1.0%$3,717–$4,543

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98045
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,180$2,270$2,660$3,470$4,130
FY 2026$2,210$2,280$2,660$3,480$4,090
FY 2025$2,310$2,370$2,760$3,640$4,240
FY 2024$2,310$2,370$2,760$3,660$4,260
FY 2023$2,080$2,140$2,500$3,360$3,920

Two-bedroom rent in nearby King County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98045
98038$2,900+9.0%
98039$3,280+23.3%
98040$3,010+13.2%
98041$2,600−2.3%
98042$2,640−0.8%
98043$2,420−9.0%
98045Current$2,660—
98047$2,170−18.4%
98050$2,960+11.3%
98051$2,700+1.5%
98052$3,150+18.4%
98053$3,290+23.7%

Questions about ZIP 98045 rents

How much will Section 8 pay for a two-bedroom in ZIP 98045?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,660, that basic range is $2,394 to $2,926 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 98045 in?

ZIP 98045 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 98045 for FY 2027?

The two-bedroom FMR was unchanged at $2,660 in FY 2027. Since FY 2023 it has risen 6.4%.

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