FMR is near market; voucher and private rents are aligned.
1.00
1 BR
1 BR
0.87ratio
FMR$1,680
Market$1,940
vs market-$260
FMR is below market; voucher rent may lag private rents.
0.87
2 BR
2 BR
0.98ratio
FMR$2,060
Market$2,110
vs market-$50
FMR is near market; voucher and private rents are aligned.
0.98
3 BR
3 BR
1.23ratio
FMR$2,840
Market$2,310
vs market+$530
FMR is above market; underwrite to market rent.
1.23
4 BR
4 BR
1.29ratio
FMR$3,210
Market$2,490
vs market+$720
FMR is above market; underwrite to market rent.
1.29
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 98417 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98417 (Tacoma, WA) is $2,060 a month. That is up 4.6% from $1,970 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, 98417 is tied for the 35th-highest two-bedroom rent (county range $1,780–$2,770). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98417 is 40% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 98417
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,430
$1,490
+4.2%
$1,341–$1,639
1BR
$1,600
$1,680
+5.0%
$1,512–$1,848
2BR
$1,970
$2,060
+4.6%
$1,854–$2,266
3BR
$2,730
$2,840
+4.0%
$2,556–$3,124
4BR
$3,100
$3,210
+3.5%
$2,889–$3,531
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 98417
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,490
$1,680
$2,060
$2,840
$3,210
FY 2026
$1,430
$1,600
$1,970
$2,730
$3,100
FY 2025
$1,480
$1,670
$2,060
$2,890
$3,300
FY 2024
$1,430
$1,610
$1,990
$2,800
$3,240
FY 2023
$1,170
$1,310
$1,640
$2,330
$2,730
Two-bedroom rent in nearby Pierce County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 98417?
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 $2,060 it would be $1,854 to $2,266. 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 98417 in?
ZIP 98417 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 98417 for FY 2027?
The two-bedroom FMR rose 4.6%, from $1,970 in FY 2026 to $2,060 in FY 2027. Since FY 2023 it has risen 25.6%.
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