Skip to main content
Loading page
Snohomish County/Arlington/98223

98223

ZIPSAFMR
Snohomish County, WA
Zillow

ZIP Investment Score

70Below average

095130300
BRFMR
Eff. Rent
0 BR$1,890$1,890
1 BR$1,980$1,980
2 BR$2,310$2,310
3 BR$3,010$3,010
4 BR$3,580$3,580
5 BR$4,117Not available
6 BR$4,735Not available
7 BR$5,445Not available
8 BR$6,261Not available

Purchase Price Calculator

Maximum purchase price
$281,349

Cost breakdown

+Likely effective rent$2,310
HUD FMRUsed$2,310
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,423
Loan amount$225,079
Down payment$56,270
Rate6.50%
Term30 years
-Operating costs-$687
Property taxes-$281
Insurance-$175
Utilities$0
HOA$0
Management-$231
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$36,897(65.6% ROI)
Projected value
$302,982
Return breakdown
Property appreciation+$21,633
Loan principal paid down+$8,064
Rental cash flow+$7,200
5-year hold
+$63,352(112.6% ROI)
Projected value
$318,320
Return breakdown
Property appreciation+$36,972
Loan principal paid down+$14,380
Rental cash flow+$12,000
10-year hold
+$137,067(243.6% ROI)
Projected value
$360,150
Return breakdown
Property appreciation+$78,801
Loan principal paid down+$34,266
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 98223 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98223 (Arlington, WA) is $2,310 a month. That is up 2.2% from $2,260 in FY 2026. Arlington 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, 98223 has the 28th-highest two-bedroom rent (county range $1,950–$3,480). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98223 is 57% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98223
BedroomsFY 2027Change90–110% range
Studio$1,890+1.1%$1,701–$2,079
1BR$1,980+2.1%$1,782–$2,178
2BR$2,310+2.2%$2,079–$2,541
3BR$3,010+1.7%$2,709–$3,311
4BR$3,580+2.9%$3,222–$3,938

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98223
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,890$1,980$2,310$3,010$3,580
FY 2026$1,870$1,940$2,260$2,960$3,480
FY 2025$1,990$2,050$2,390$3,160$3,680
FY 2024$1,920$1,970$2,300$3,050$3,550
FY 2023$1,760$1,800$2,110$2,830$3,310

Two-bedroom rent in nearby Snohomish County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98223
98201$2,040−11.7%
98203$2,260−2.2%
98204$2,240−3.0%
98206$2,380+3.0%
98207$2,040−11.7%
98208$2,390+3.5%
98213$2,380+3.0%
98223Current$2,310—
98241$1,950−15.6%
98251$2,210−4.3%
98252$1,950−15.6%
98256$1,950−15.6%

Questions about ZIP 98223 rents

How much will Section 8 pay for a two-bedroom in ZIP 98223?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,310, that basic range is $2,079 to $2,541 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 98223 in?

ZIP 98223 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 98223 for FY 2027?

The two-bedroom FMR rose 2.2%, from $2,260 in FY 2026 to $2,310 in FY 2027. Since FY 2023 it has risen 9.5%.

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