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Pierce County/Puyallup/98371

98371

ZIPSAFMR
Pierce County, WA
Zillow

ZIP Investment Score

57Below average

095130300
BRFMR
Eff. Rent
0 BR$1,430$1,480
1 BR$1,610$1,770
2 BR$1,980$2,100
3 BR$2,730$2,740
4 BR$3,090$3,220
5 BR$3,553Not available
6 BR$4,087Not available
7 BR$4,700Not available
8 BR$5,404Not available

Purchase Price Calculator

Maximum purchase price
$250,143

Cost breakdown

+Likely effective rent$2,100
HUD FMR$1,980
Market rent$2,170
Est. payment standard (106%)Used$2,100
-Principal and interest-$1,265
Loan amount$200,114
Down payment$50,029
Rate6.50%
Term30 years
-Operating costs-$635
Property taxes-$250
Insurance-$175
Utilities$0
HOA$0
Management-$210
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$33,603(67.2% ROI)
Projected value
$269,376
Return breakdown
Property appreciation+$19,234
Loan principal paid down+$7,170
Rental cash flow+$7,200
5-year hold
+$57,656(115.2% ROI)
Projected value
$283,013
Return breakdown
Property appreciation+$32,871
Loan principal paid down+$12,785
Rental cash flow+$12,000
10-year hold
+$124,526(248.9% ROI)
Projected value
$320,204
Return breakdown
Property appreciation+$70,061
Loan principal paid down+$30,465
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.95
1 BR
0.86
2 BR
0.91
3 BR
0.99
4 BR
0.94
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 98371 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98371 (Puyallup, WA) is $1,980 a month. That is up 5.3% from $1,880 in FY 2026. Puyallup is in the Tacoma, WA HUD Metro 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 metro-wide two-bedroom FMR of $2,064. Among 76 ZIP codes in Pierce County, 98371 is tied for the 50th-highest two-bedroom rent (county range $1,780–$2,770). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98371 is 35% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98371
BedroomsFY 2027Change90–110% range
Studio$1,430+5.1%$1,287–$1,573
1BR$1,610+5.2%$1,449–$1,771
2BR$1,980+5.3%$1,782–$2,178
3BR$2,730+4.6%$2,457–$3,003
4BR$3,090+4.0%$2,781–$3,399

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98371
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,430$1,610$1,980$2,730$3,090
FY 2026$1,360$1,530$1,880$2,610$2,970
FY 2025$1,400$1,590$1,950$2,730$3,120
FY 2024$1,350$1,520$1,880$2,650$3,060
FY 2023$1,100$1,230$1,540$2,190$2,570

Two-bedroom rent in nearby Pierce County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98371
98354$2,440+23.2%
98359$1,830−7.6%
98360$2,670+34.8%
98371Current$1,980—
98372$2,160+9.1%
98373$2,180+10.1%
98374$2,300+16.2%
98375$2,570+29.8%
98385$2,190+10.6%
98387$2,180+10.1%
98388$2,050+3.5%
98390$2,270+14.6%

Questions about ZIP 98371 rents

How much will Section 8 pay for a two-bedroom in ZIP 98371?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,064, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,858 to $2,270 a month; under the ZIP-level Small Area FMR of $1,980 it would be $1,782 to $2,178. 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 98371 in?

ZIP 98371 is in the Tacoma, WA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,064.

How much did fair market rent change in ZIP 98371 for FY 2027?

The two-bedroom FMR rose 5.3%, from $1,880 in FY 2026 to $1,980 in FY 2027. Since FY 2023 it has risen 28.6%.

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