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San Juan County/Orcas/98280

98280

ZIPSAFMR
San Juan County, WA
Zillow

ZIP Investment Score

38Below average

095130300
BRFMR
Eff. Rent
0 BR$1,660$1,660
1 BR$1,820$1,820
2 BR$2,380$2,380
3 BR$3,120$3,120
4 BR$3,130$3,130
5 BR$3,599Not available
6 BR$4,139Not available
7 BR$4,760Not available
8 BR$5,474Not available

Purchase Price Calculator

Maximum purchase price
$291,751

Cost breakdown

+Likely effective rent$2,380
HUD FMRUsed$2,380
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,475
Loan amount$233,400
Down payment$58,350
Rate6.50%
Term30 years
-Operating costs-$705
Property taxes-$292
Insurance-$175
Utilities$0
HOA$0
Management-$238
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$37,995(65.1% ROI)
Projected value
$314,183
Return breakdown
Property appreciation+$22,433
Loan principal paid down+$8,362
Rental cash flow+$7,200
5-year hold
+$65,250(111.8% ROI)
Projected value
$330,089
Return breakdown
Property appreciation+$38,338
Loan principal paid down+$14,912
Rental cash flow+$12,000
10-year hold
+$141,247(242.1% ROI)
Projected value
$373,465
Return breakdown
Property appreciation+$81,715
Loan principal paid down+$35,533
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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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
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Tax rate
--
Mortgage rate
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ZIP 98280 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98280 (Orcas, WA) is $2,380 a month. That is up 12.3% from $2,120 in FY 2026. Orcas is in the San Juan 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 $2,022. Among 10 ZIP codes in San Juan County, 98280 has the 2nd-highest two-bedroom rent (county range $1,670–$2,660). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98280 is 62% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98280
BedroomsFY 2027Change90–110% range
Studio$1,660+13.7%$1,494–$1,826
1BR$1,820+12.3%$1,638–$2,002
2BR$2,380+12.3%$2,142–$2,618
3BR$3,120+11.0%$2,808–$3,432
4BR$3,130+11.4%$2,817–$3,443

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98280
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,660$1,820$2,380$3,120$3,130
FY 2026$1,460$1,620$2,120$2,810$2,810
FY 2025$1,060$1,190$1,550$2,030$2,090
FY 2024area FMR$1,127$1,266$1,663$2,207$2,312
FY 2023area FMR$1,035$1,133$1,492$1,993$2,182

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

Two-bedroom rent in nearby San Juan County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98280
98221$1,940−18.5%
98222$2,050−13.9%
98243$1,810−23.9%
98245$1,820−23.5%
98250$2,120−10.9%
98261$1,670−29.8%
98279$2,660+11.8%
98280Current$2,380—
98286$2,000−16.0%
98297$2,020−15.1%

Questions about ZIP 98280 rents

How much will Section 8 pay for a two-bedroom in ZIP 98280?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $2,022, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,820 to $2,224 a month; under the ZIP-level Small Area FMR of $2,380 it would be $2,142 to $2,618. 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 98280 in?

ZIP 98280 is in the San Juan County, WA non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $2,022.

How much did fair market rent change in ZIP 98280 for FY 2027?

The two-bedroom FMR rose 12.3%, from $2,120 in FY 2026 to $2,380 in FY 2027. Since FY 2025 it has risen 53.5%.

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