For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98259 (North Lakewood, WA) is $2,380 a month. That is up 2.6% from $2,320 in FY 2026. North Lakewood 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, 98259 is tied for the 18th-highest two-bedroom rent (county range $1,950–$3,480). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98259 is 62% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 98259
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,920
$1,950
+1.6%
$1,755–$2,145
1BR
$1,990
$2,040
+2.5%
$1,836–$2,244
2BR
$2,320
$2,380
+2.6%
$2,142–$2,618
3BR
$3,040
$3,100
+2.0%
$2,790–$3,410
4BR
$3,570
$3,690
+3.4%
$3,321–$4,059
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 98259
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,950
$2,040
$2,380
$3,100
$3,690
FY 2026
$1,920
$1,990
$2,320
$3,040
$3,570
FY 2025
$2,070
$2,120
$2,470
$3,260
$3,800
FY 2024
$2,020
$2,080
$2,420
$3,210
$3,730
FY 2023
$1,870
$1,920
$2,250
$3,020
$3,530
Two-bedroom rent in nearby Snohomish County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 98259?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,380, that basic range is $2,142 to $2,618 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 98259 in?
ZIP 98259 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 98259 for FY 2027?
The two-bedroom FMR rose 2.6%, from $2,320 in FY 2026 to $2,380 in FY 2027. Since FY 2023 it has risen 5.8%.
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