Skip to main content
Loading page
King County/Renton/98056

98056

ZIPSAFMR
King County, WA
Zillow

ZIP Investment Score

61Below average

095130300
BRFMR
Eff. Rent
0 BR$2,080$1,710
1 BR$2,160$2,090
2 BR$2,530$2,650
3 BR$3,300$3,290
4 BR$3,920$3,750
5 BR$4,508Not available
6 BR$5,184Not available
7 BR$5,962Not available
8 BR$6,856Not available

Purchase Price Calculator

Maximum purchase price
$331,872

Cost breakdown

+Likely effective rent$2,650
HUD FMR$2,530
Market rent$2,720
Est. payment standard (105%)Used$2,650
-Principal and interest-$1,678
Loan amount$265,498
Down payment$66,374
Rate6.50%
Term30 years
-Operating costs-$772
Property taxes-$332
Insurance-$175
Utilities$0
HOA$0
Management-$265
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$42,230(63.6% ROI)
Projected value
$357,390
Return breakdown
Property appreciation+$25,518
Loan principal paid down+$9,512
Rental cash flow+$7,200
5-year hold
+$72,573(109.3% ROI)
Projected value
$375,483
Return breakdown
Property appreciation+$43,611
Loan principal paid down+$16,963
Rental cash flow+$12,000
10-year hold
+$157,371(237.1% ROI)
Projected value
$424,825
Return breakdown
Property appreciation+$92,952
Loan principal paid down+$40,419
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
1.22
1 BR
1.03
2 BR
0.93
3 BR
1.00
4 BR
1.05
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 98056 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98056 (Renton, WA) is $2,530 a month. That is up 2.0% from $2,480 in FY 2026. Renton 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, 98056 has the 84th-highest two-bedroom rent (county range $1,950–$3,820). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98056 is 72% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98056
BedroomsFY 2027Change90–110% range
Studio$2,080+1.0%$1,872–$2,288
1BR$2,160+1.4%$1,944–$2,376
2BR$2,530+2.0%$2,277–$2,783
3BR$3,300+1.9%$2,970–$3,630
4BR$3,920+2.9%$3,528–$4,312

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98056
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,080$2,160$2,530$3,300$3,920
FY 2026$2,060$2,130$2,480$3,240$3,810
FY 2025$2,200$2,260$2,630$3,470$4,040
FY 2024$2,000$2,050$2,390$3,170$3,690
FY 2023$1,950$2,010$2,350$3,160$3,680

Two-bedroom rent in nearby King County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98056
98050$2,960+17.0%
98051$2,700+6.7%
98052$3,150+24.5%
98053$3,290+30.0%
98055$2,650+4.7%
98056Current$2,530—
98057$2,240−11.5%
98058$2,630+4.0%
98059$2,770+9.5%
98062$2,600+2.8%
98063$2,600+2.8%
98064$2,600+2.8%

Questions about ZIP 98056 rents

How much will Section 8 pay for a two-bedroom in ZIP 98056?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,530, that basic range is $2,277 to $2,783 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 98056 in?

ZIP 98056 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 98056 for FY 2027?

The two-bedroom FMR rose 2.0%, from $2,480 in FY 2026 to $2,530 in FY 2027. Since FY 2023 it has risen 7.7%.

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