FMR is below market; voucher rent may lag private rents.
0.59
1 BR
1 BR
0.68ratio
FMR$1,682
Market$2,460
vs market-$778
FMR is below market; voucher rent may lag private rents.
0.68
2 BR
2 BR
0.74ratio
FMR$2,064
Market$2,790
vs market-$726
FMR is below market; voucher rent may lag private rents.
0.74
3 BR
3 BR
1.00ratio
FMR$2,849
Market$2,850
vs market-$1
FMR is near market; voucher and private rents are aligned.
1.00
4 BR
4 BR
1.04ratio
FMR$3,219
Market$3,090
vs market+$129
FMR is near market; voucher and private rents are aligned.
1.04
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
--
ZIP 98431 fair market rent, FY 2027
For FY 2027, HUD's Fair Market Rent for a two-bedroom unit in ZIP 98431 (Tacoma, WA) is $2,064 a month. That is up 4.7% from $1,971 in FY 2026. Tacoma is in the Tacoma, WA HUD Metro FMR Area. The median county two-bedroom FMR in Washington is $1,467, so ZIP 98431 is 41% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 98431
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$1,428
$1,491
+4.4%
$1,342–$1,640
1BR
$1,605
$1,682
+4.8%
$1,514–$1,850
2BR
$1,971
$2,064
+4.7%
$1,858–$2,270
3BR
$2,733
$2,849
+4.2%
$2,564–$3,134
4BR
$3,102
$3,219
+3.8%
$2,897–$3,541
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 98431
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,491
$1,682
$2,064
$2,849
$3,219
FY 2026
$1,428
$1,605
$1,971
$2,733
$3,102
FY 2025
$1,479
$1,673
$2,057
$2,882
$3,292
FY 2024
$1,430
$1,603
$1,987
$2,800
$3,236
FY 2023
$1,174
$1,308
$1,643
$2,335
$2,740
Questions about ZIP 98431 rents
How much will Section 8 pay for a two-bedroom in ZIP 98431?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,064, that basic range is $1,858 to $2,270 a month. 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 98431 in?
ZIP 98431 is in the Tacoma, WA HUD Metro FMR Area. Small Area FMRs are not mandatory in this area.
How much did fair market rent change in ZIP 98431 for FY 2027?
The two-bedroom FMR rose 4.7%, from $1,971 in FY 2026 to $2,064 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 Fair Market Rents. 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