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Pierce County/Lakewood/98498

98498

ZIPSAFMR
Pierce County, WA
Zillow

ZIP Investment Score

63Below average

095130300
BRFMR
Eff. Rent
0 BR$1,350$1,400
1 BR$1,520$1,570
2 BR$1,870$2,060
3 BR$2,580$2,640
4 BR$2,920$3,020
5 BR$3,358Not available
6 BR$3,862Not available
7 BR$4,441Not available
8 BR$5,107Not available

Purchase Price Calculator

Maximum purchase price
$244,199

Cost breakdown

+Likely effective rent$2,060
HUD FMR$1,870
Market rent$2,210
Est. payment standard (110%)Used$2,060
-Principal and interest-$1,235
Loan amount$195,359
Down payment$48,840
Rate6.50%
Term30 years
-Operating costs-$625
Property taxes-$244
Insurance-$175
Utilities$0
HOA$0
Management-$206
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$32,976(67.5% ROI)
Projected value
$262,975
Return breakdown
Property appreciation+$18,777
Loan principal paid down+$6,999
Rental cash flow+$7,200
5-year hold
+$56,571(115.8% ROI)
Projected value
$276,288
Return breakdown
Property appreciation+$32,090
Loan principal paid down+$12,482
Rental cash flow+$12,000
10-year hold
+$122,137(250.1% ROI)
Projected value
$312,595
Return breakdown
Property appreciation+$68,396
Loan principal paid down+$29,741
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.94
1 BR
0.96
2 BR
0.85
3 BR
0.97
4 BR
0.95
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 98498 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98498 (Lakewood, WA) is $1,870 a month. That is up 0.5% from $1,860 in FY 2026. Lakewood 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, 98498 is tied for the 64th-highest two-bedroom rent (county range $1,780–$2,770). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98498 is 27% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98498
BedroomsFY 2027Change90–110% range
Studio$1,350+0.7%$1,215–$1,485
1BR$1,520+0.7%$1,368–$1,672
2BR$1,870+0.5%$1,683–$2,057
3BR$2,580−0.8%$2,322–$2,838
4BR$2,920−1.7%$2,628–$3,212

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98498
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,350$1,520$1,870$2,580$2,920
FY 2026$1,340$1,510$1,860$2,600$2,970
FY 2025$1,290$1,460$1,800$2,520$2,920
FY 2024$1,280$1,440$1,780$2,510$2,900
FY 2023$1,070$1,190$1,500$2,130$2,500

Two-bedroom rent in nearby Pierce County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98498
98446$2,270+21.4%
98447$1,930+3.2%
98448$2,060+10.2%
98464$2,060+10.2%
98465$1,790−4.3%
98466$2,070+10.7%
98467$1,880+0.5%
98490$2,060+10.2%
98496$2,060+10.2%
98498Current$1,870—
98499$1,830−2.1%
98528$1,830−2.1%

Questions about ZIP 98498 rents

How much will Section 8 pay for a two-bedroom in ZIP 98498?

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 $1,870 it would be $1,683 to $2,057. 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 98498 in?

ZIP 98498 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 98498 for FY 2027?

The two-bedroom FMR rose 0.5%, from $1,860 in FY 2026 to $1,870 in FY 2027. Since FY 2023 it has risen 24.7%.

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