FMR is near market; voucher and private rents are aligned.
1.09
2 BR
2 BR
1.10ratio
FMR$2,540
Market$2,300
vs market+$240
FMR is above market; underwrite to market rent.
1.10
3 BR
3 BR
1.25ratio
FMR$3,410
Market$2,720
vs market+$690
FMR is above market; underwrite to market rent.
1.25
4 BR
4 BR
1.23ratio
FMR$3,620
Market$2,940
vs market+$680
FMR is above market; underwrite to market rent.
1.23
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
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ZIP 98315 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98315 (Silverdale, WA) is $2,540 a month. That is down 3.4% from $2,630 in FY 2026. Silverdale is in the Bremerton-Silverdale-Port Orchard, WA MSA. 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 metro-wide two-bedroom FMR of $1,967. Among 27 ZIP codes in Kitsap County, 98315 has the 4th-highest two-bedroom rent (county range $1,830–$2,860). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98315 is 73% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 98315
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,810
$1,770
−2.2%
$1,593–$1,947
1BR
$2,000
$1,980
−1.0%
$1,782–$2,178
2BR
$2,630
$2,540
−3.4%
$2,286–$2,794
3BR
$3,460
$3,410
−1.4%
$3,069–$3,751
4BR
$3,810
$3,620
−5.0%
$3,258–$3,982
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 98315
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,770
$1,980
$2,540
$3,410
$3,620
FY 2026
$1,810
$2,000
$2,630
$3,460
$3,810
FY 2025
$1,820
$2,030
$2,660
$3,470
$4,000
FY 2024
$1,780
$2,000
$2,630
$3,460
$4,080
FY 2023
$1,600
$1,830
$2,390
$3,210
$3,860
Two-bedroom rent in nearby Kitsap County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 98315?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,967, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,770 to $2,164 a month; under the ZIP-level Small Area FMR of $2,540 it would be $2,286 to $2,794. 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 98315 in?
ZIP 98315 is in the Bremerton-Silverdale-Port Orchard, WA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,967.
How much did fair market rent change in ZIP 98315 for FY 2027?
The two-bedroom FMR fell 3.4%, from $2,630 in FY 2026 to $2,540 in FY 2027. Since FY 2023 it has risen 6.3%.
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