Snohomish County/Everett/98208

98208

ZIPSAFMR

Snohomish County, WA

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ZIP Investment Score

58Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,960	$1,840	-0.8%
1 BR	$2,040	$1,920	-0.5%
2 BR	$2,390	$2,350	-0.3%
3 BR	$3,120	$2,900	-0.8%
4 BR	$3,710	$3,310	-0.1%
5 BR	$4,267	Not available	-0.1%
6 BR	$4,906	Not available	-0.1%
7 BR	$5,642	Not available	-0.1%
8 BR	$6,489	Not available	-0.1%

Purchase Price Calculator

Maximum purchase price

$287,293

Cost breakdown

+Likely effective rent$2,350

HUD FMR$2,390

Market rentUsed$2,350

Est. payment standard (99%)$2,360

-Principal and interest-$1,453

Loan amount$229,834

Down payment$57,459

Rate6.50%

Term30 years

-Operating costs-$697

Property taxes-$287

Insurance-$175

Utilities$0

HOA$0

Management-$235

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$37,525(65.3% ROI)

Projected value

$309,383

Return breakdown

Property appreciation+$22,090

Loan principal paid down+$8,234

Rental cash flow+$7,200

5-year hold

+$64,437(112.1% ROI)

Projected value

$325,045

Return breakdown

Property appreciation+$37,753

Loan principal paid down+$14,684

Rental cash flow+$12,000

10-year hold

+$139,456(242.7% ROI)

Projected value

$367,759

Return breakdown

Property appreciation+$80,466

Loan principal paid down+$34,990

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.07ratio

FMR$1,960

Market$1,840

vs market+$120

FMR is near market; voucher and private rents are aligned.

1.07

1 BR

1.06ratio

FMR$2,040

Market$1,920

vs market+$120

FMR is near market; voucher and private rents are aligned.

1.06

2 BR

1.02ratio

FMR$2,390

Market$2,350

vs market+$40

FMR is near market; voucher and private rents are aligned.

1.02

3 BR

1.08ratio

FMR$3,120

Market$2,900

vs market+$220

FMR is near market; voucher and private rents are aligned.

1.08

4 BR

1.12ratio

FMR$3,710

Market$3,310

vs market+$400

FMR is above market; underwrite to market rent.

1.12

0.700.800.901.001.101.201.30aligned range

Historical

FY 2023-2027

FMR: FY2027
Market rent: last ~365 days
Property value: --
Tax rate: --
Mortgage rate: --

ZIP 98208 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98208 (Everett, WA) is $2,390 a month. That is up 3.5% from $2,310 in FY 2026. Everett 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 42 ZIP codes in Snohomish County, 98208 has the 17th-highest two-bedroom rent (county range $1,950–$3,480). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98208 is 63% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98208
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,920	$1,960	+2.1%	$1,764–$2,156
1BR	$1,980	$2,040	+3.0%	$1,836–$2,244
2BR	$2,310	$2,390	+3.5%	$2,151–$2,629
3BR	$3,020	$3,120	+3.3%	$2,808–$3,432
4BR	$3,550	$3,710	+4.5%	$3,339–$4,081

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98208
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,960	$2,040	$2,390	$3,120	$3,710
FY 2026	$1,920	$1,980	$2,310	$3,020	$3,550
FY 2025	$2,020	$2,070	$2,410	$3,180	$3,700
FY 2024	$2,010	$2,070	$2,410	$3,200	$3,720
FY 2023	$1,950	$2,010	$2,350	$3,160	$3,680

Two-bedroom rent in nearby Snohomish County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 98208
98177	$2,740	+14.6%
98201	$2,040	−14.6%
98203	$2,260	−5.4%
98204	$2,240	−6.3%
98206	$2,380	−0.4%
98207	$2,040	−14.6%
98208Current	$2,390	—
98213	$2,380	−0.4%
98223	$2,310	−3.3%
98241	$1,950	−18.4%
98251	$2,210	−7.5%
98252	$1,950	−18.4%

Questions about ZIP 98208 rents

How much will Section 8 pay for a two-bedroom in ZIP 98208?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,390, that basic range is $2,151 to $2,629 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 98208 in?

ZIP 98208 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 98208 for FY 2027?

The two-bedroom FMR rose 3.5%, from $2,310 in FY 2026 to $2,390 in FY 2027. Since FY 2023 it has risen 1.7%.

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 rent Everett, WA fair market rent WA statewide rents What is SAFMR?Data sources