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King County/Seattle/98103

98103

ZIPSAFMR
King County, WA
Zillow

ZIP Investment Score

60Below average

095130300
BRFMR
Eff. Rent
0 BR$2,460$1,740
1 BR$2,570$2,210
2 BR$3,000$3,180
3 BR$3,910$3,900
4 BR$4,650$4,990
5 BR$5,348Not available
6 BR$6,150Not available
7 BR$7,072Not available
8 BR$8,133Not available

Purchase Price Calculator

Maximum purchase price
$410,630

Cost breakdown

+Likely effective rent$3,180
HUD FMR$3,000
Market rent$3,280
Est. payment standard (106%)Used$3,180
-Principal and interest-$2,076
Loan amount$328,504
Down payment$82,126
Rate6.50%
Term30 years
-Operating costs-$904
Property taxes-$411
Insurance-$175
Utilities$0
HOA$0
Management-$318
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$50,543(61.5% ROI)
Projected value
$442,204
Return breakdown
Property appreciation+$31,574
Loan principal paid down+$11,770
Rental cash flow+$7,200
5-year hold
+$86,948(105.9% ROI)
Projected value
$464,590
Return breakdown
Property appreciation+$53,960
Loan principal paid down+$20,988
Rental cash flow+$12,000
10-year hold
+$189,022(230.2% ROI)
Projected value
$525,641
Return breakdown
Property appreciation+$115,011
Loan principal paid down+$50,011
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.41
1 BR
1.16
2 BR
0.91
3 BR
1.00
4 BR
0.90
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 98103 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98103 (Seattle, WA) is $3,000 a month. That is up 0.3% from $2,990 in FY 2026. Seattle 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, 98103 has the 23rd-highest two-bedroom rent (county range $1,950–$3,820). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98103 is 104% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98103
BedroomsFY 2027Change90–110% range
Studio$2,460−0.8%$2,214–$2,706
1BR$2,5700.0%$2,313–$2,827
2BR$3,000+0.3%$2,700–$3,300
3BR$3,9100.0%$3,519–$4,301
4BR$4,650+1.1%$4,185–$5,115

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98103
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,460$2,570$3,000$3,910$4,650
FY 2026$2,480$2,570$2,990$3,910$4,600
FY 2025$2,610$2,680$3,120$4,110$4,790
FY 2024$2,580$2,650$3,090$4,100$4,770
FY 2023$2,470$2,540$2,970$3,990$4,650

Two-bedroom rent in nearby King County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98103
98101$3,490+16.3%
98102$3,030+1.0%
98103Current$3,000—
98104$2,350−21.7%
98105$2,800−6.7%
98106$2,490−17.0%
98107$3,040+1.3%
98108$2,220−26.0%
98109$3,470+15.7%
98110$2,380−20.7%
98111$2,600−13.3%
98112$2,640−12.0%

Questions about ZIP 98103 rents

How much will Section 8 pay for a two-bedroom in ZIP 98103?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,000, that basic range is $2,700 to $3,300 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 98103 in?

ZIP 98103 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 98103 for FY 2027?

The two-bedroom FMR rose 0.3%, from $2,990 in FY 2026 to $3,000 in FY 2027. Since FY 2023 it has risen 1.0%.

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