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Kitsap County/Indianola/98342

98342

ZIPSAFMR
Kitsap County, WA
Zillow

ZIP Investment Score

45Below average

095130300
BRFMR
Eff. Rent
0 BR$1,260$1,390
1 BR$1,400$1,540
2 BR$1,830$2,010
3 BR$2,410$2,540
4 BR$2,650$2,920
5 BR$3,047Not available
6 BR$3,505Not available
7 BR$4,030Not available
8 BR$4,635Not available

Purchase Price Calculator

Maximum purchase price
$236,769

Cost breakdown

+Likely effective rent$2,010
HUD FMR$1,830
Market rent$2,490
Est. payment standard (110%)Used$2,010
-Principal and interest-$1,197
Loan amount$189,415
Down payment$47,354
Rate6.50%
Term30 years
-Operating costs-$613
Property taxes-$237
Insurance-$175
Utilities$0
HOA$0
Management-$201
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$32,192(68.0% ROI)
Projected value
$254,974
Return breakdown
Property appreciation+$18,205
Loan principal paid down+$6,786
Rental cash flow+$7,200
5-year hold
+$55,215(116.6% ROI)
Projected value
$267,882
Return breakdown
Property appreciation+$31,113
Loan principal paid down+$12,102
Rental cash flow+$12,000
10-year hold
+$119,152(251.6% ROI)
Projected value
$303,084
Return breakdown
Property appreciation+$66,315
Loan principal paid down+$28,836
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.58
1 BR
0.67
2 BR
0.73
3 BR
0.92
4 BR
0.80
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 98342 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98342 (Indianola, WA) is $1,830 a month. That is down 1.6% from $1,860 in FY 2026. Indianola 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, 98342 is tied for the 22nd-highest two-bedroom rent (county range $1,830–$2,860). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98342 is 25% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98342
BedroomsFY 2027Change90–110% range
Studio$1,260−0.8%$1,134–$1,386
1BR$1,400−1.4%$1,260–$1,540
2BR$1,830−1.6%$1,647–$2,013
3BR$2,410−0.4%$2,169–$2,651
4BR$2,650−5.0%$2,385–$2,915

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98342
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,260$1,400$1,830$2,410$2,650
FY 2026$1,270$1,420$1,860$2,420$2,790
FY 2025$1,350$1,500$1,970$2,570$2,960
FY 2024$1,380$1,540$2,030$2,670$3,150
FY 2023$1,300$1,490$1,950$2,620$3,150

Two-bedroom rent in nearby Kitsap County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98342
98322$1,970+7.7%
98329$2,130+16.4%
98337$1,8300.0%
98340$2,580+41.0%
98342Current$1,830—
98345$2,370+29.5%
98346$1,8300.0%
98353$1,970+7.7%
98359$1,8300.0%
98364$1,970+7.7%
98366$1,900+3.8%
98367$2,020+10.4%

Questions about ZIP 98342 rents

How much will Section 8 pay for a two-bedroom in ZIP 98342?

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 $1,830 it would be $1,647 to $2,013. 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 98342 in?

ZIP 98342 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 98342 for FY 2027?

The two-bedroom FMR fell 1.6%, from $1,860 in FY 2026 to $1,830 in FY 2027. Since FY 2023 it has fallen 6.2%.

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