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Pierce County/Tacoma/98409

98409

ZIPSAFMR
Pierce County, WA
Zillow

ZIP Investment Score

73Below average

095130300
BRFMR
Eff. Rent
0 BR$1,440$1,330
1 BR$1,620$1,610
2 BR$1,990$1,800
3 BR$2,750$2,480
4 BR$3,100$2,810
5 BR$3,565Not available
6 BR$4,100Not available
7 BR$4,715Not available
8 BR$5,422Not available

Purchase Price Calculator

Maximum purchase price
$205,563

Cost breakdown

+Likely effective rent$1,800
HUD FMR$1,990
Market rentUsed$1,800
Est. payment standard (94%)$1,870
-Principal and interest-$1,039
Loan amount$164,450
Down payment$41,113
Rate6.50%
Term30 years
-Operating costs-$561
Property taxes-$206
Insurance-$175
Utilities$0
HOA$0
Management-$180
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$28,898(70.3% ROI)
Projected value
$221,369
Return breakdown
Property appreciation+$15,806
Loan principal paid down+$5,892
Rental cash flow+$7,200
5-year hold
+$49,519(120.4% ROI)
Projected value
$232,575
Return breakdown
Property appreciation+$27,013
Loan principal paid down+$10,507
Rental cash flow+$12,000
10-year hold
+$106,611(259.3% ROI)
Projected value
$263,138
Return breakdown
Property appreciation+$57,575
Loan principal paid down+$25,036
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.08
1 BR
1.01
2 BR
1.11
3 BR
1.11
4 BR
1.10
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 98409 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98409 (Tacoma, WA) is $1,990 a month. That is up 4.2% from $1,910 in FY 2026. Tacoma 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, 98409 has the 49th-highest two-bedroom rent (county range $1,780–$2,770). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98409 is 36% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98409
BedroomsFY 2027Change90–110% range
Studio$1,440+4.3%$1,296–$1,584
1BR$1,620+3.8%$1,458–$1,782
2BR$1,990+4.2%$1,791–$2,189
3BR$2,750+3.8%$2,475–$3,025
4BR$3,100+3.0%$2,790–$3,410

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98409
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,440$1,620$1,990$2,750$3,100
FY 2026$1,380$1,560$1,910$2,650$3,010
FY 2025$1,390$1,570$1,930$2,700$3,090
FY 2024$1,330$1,490$1,850$2,610$3,010
FY 2023$1,110$1,240$1,560$2,220$2,600

Two-bedroom rent in nearby Pierce County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98409
98401$2,060+3.5%
98402$1,980−0.5%
98403$1,780−10.6%
98404$1,790−10.1%
98405$1,870−6.0%
98406$2,070+4.0%
98407$2,180+9.5%
98408$1,890−5.0%
98409Current$1,990—
98411$2,060+3.5%
98413$2,060+3.5%
98416$2,070+4.0%

Questions about ZIP 98409 rents

How much will Section 8 pay for a two-bedroom in ZIP 98409?

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 $1,990 it would be $1,791 to $2,189. 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 98409 in?

ZIP 98409 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 98409 for FY 2027?

The two-bedroom FMR rose 4.2%, from $1,910 in FY 2026 to $1,990 in FY 2027. Since FY 2023 it has risen 27.6%.

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