Skip to main content
Loading page
Island County/Coupeville/98239

98239

ZIPSAFMR
Island County, WA
Zillow

ZIP Investment Score

46Below average

095130300
BRFMR
Eff. Rent
0 BR$1,150$1,270
1 BR$1,320$1,450
2 BR$1,650$1,820
3 BR$2,260$2,440
4 BR$2,700$2,730
5 BR$3,105Not available
6 BR$3,571Not available
7 BR$4,106Not available
8 BR$4,722Not available

Purchase Price Calculator

Maximum purchase price
$208,535

Cost breakdown

+Likely effective rent$1,820
HUD FMR$1,650
Market rent$2,230
Est. payment standard (110%)Used$1,820
-Principal and interest-$1,054
Loan amount$166,828
Down payment$41,707
Rate6.50%
Term30 years
-Operating costs-$566
Property taxes-$209
Insurance-$175
Utilities$0
HOA$0
Management-$182
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$29,211(70.0% ROI)
Projected value
$224,569
Return breakdown
Property appreciation+$16,034
Loan principal paid down+$5,977
Rental cash flow+$7,200
5-year hold
+$50,062(120.0% ROI)
Projected value
$235,938
Return breakdown
Property appreciation+$27,403
Loan principal paid down+$10,659
Rental cash flow+$12,000
10-year hold
+$107,805(258.5% ROI)
Projected value
$266,942
Return breakdown
Property appreciation+$58,407
Loan principal paid down+$25,398
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
0.58
1 BR
0.66
2 BR
0.74
3 BR
0.89
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 98239 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98239 (Coupeville, WA) is $1,650 a month. That is up 13.8% from $1,450 in FY 2026. Coupeville is in the Island County, WA non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $1,824. Among 8 ZIP codes in Island County, 98239 has the 8th-highest two-bedroom rent (county range $1,650–$2,200). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98239 is 12% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98239
BedroomsFY 2027Change90–110% range
Studio$1,150+7.5%$1,035–$1,265
1BR$1,320+10.9%$1,188–$1,452
2BR$1,650+13.8%$1,485–$1,815
3BR$2,260+11.9%$2,034–$2,486
4BR$2,700+13.9%$2,430–$2,970

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98239
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,150$1,320$1,650$2,260$2,700
FY 2026$1,070$1,190$1,450$2,020$2,370
FY 2025$1,050$1,120$1,380$1,940$2,290
FY 2024area FMR$1,156$1,236$1,523$2,146$2,536
FY 2023area FMR$1,079$1,086$1,376$1,956$2,326

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Island County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98239
98236$1,750+6.1%
98239Current$1,650—
98249$1,720+4.2%
98253$2,200+33.3%
98260$1,940+17.6%
98277$1,870+13.3%
98278$1,870+13.3%
98282$1,950+18.2%

Questions about ZIP 98239 rents

How much will Section 8 pay for a two-bedroom in ZIP 98239?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,824, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,642 to $2,006 a month; under the ZIP-level Small Area FMR of $1,650 it would be $1,485 to $1,815. 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 98239 in?

ZIP 98239 is in the Island County, WA non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,824.

How much did fair market rent change in ZIP 98239 for FY 2027?

The two-bedroom FMR rose 13.8%, from $1,450 in FY 2026 to $1,650 in FY 2027. Since FY 2025 it has risen 19.6%.

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