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Thurston County/Rainier/98576

98576

ZIPSAFMR
Thurston County, WA
Zillow

ZIP Investment Score

65Below average

095130300
BRFMR
Eff. Rent
0 BR$1,390$1,530
1 BR$1,520$1,670
2 BR$1,770$1,950
3 BR$2,360$2,400
4 BR$2,960$2,570
5 BR$3,404Not available
6 BR$3,915Not available
7 BR$4,502Not available
8 BR$5,177Not available

Purchase Price Calculator

Maximum purchase price
$227,853

Cost breakdown

+Likely effective rent$1,950
HUD FMR$1,770
Market rent$2,220
Est. payment standard (110%)Used$1,950
-Principal and interest-$1,152
Loan amount$182,282
Down payment$45,571
Rate6.50%
Term30 years
-Operating costs-$598
Property taxes-$228
Insurance-$175
Utilities$0
HOA$0
Management-$195
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$31,250(68.6% ROI)
Projected value
$245,372
Return breakdown
Property appreciation+$17,520
Loan principal paid down+$6,531
Rental cash flow+$7,200
5-year hold
+$53,588(117.6% ROI)
Projected value
$257,794
Return breakdown
Property appreciation+$29,942
Loan principal paid down+$11,646
Rental cash flow+$12,000
10-year hold
+$115,568(253.6% ROI)
Projected value
$291,671
Return breakdown
Property appreciation+$63,818
Loan principal paid down+$27,750
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.63
1 BR
0.75
2 BR
0.80
3 BR
0.98
4 BR
1.15
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 98576 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98576 (Rainier, WA) is $1,770 a month. That is up 6.6% from $1,660 in FY 2026. Rainier is in the Olympia-Lacey-Tumwater, WA MSA. 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 $1,946. Among 21 ZIP codes in Thurston County, 98576 is tied for the 16th-highest two-bedroom rent (county range $1,770–$2,280). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98576 is 21% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98576
BedroomsFY 2027Change90–110% range
Studio$1,390+10.3%$1,251–$1,529
1BR$1,520+6.3%$1,368–$1,672
2BR$1,770+6.6%$1,593–$1,947
3BR$2,360+3.5%$2,124–$2,596
4BR$2,960+6.1%$2,664–$3,256

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98576
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,390$1,520$1,770$2,360$2,960
FY 2026$1,260$1,430$1,660$2,280$2,790
FY 2025$1,210$1,400$1,630$2,280$2,760
FY 2024$1,130$1,310$1,520$2,130$2,580
FY 2023$940$1,000$1,170$1,660$1,990

Two-bedroom rent in nearby Thurston County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98576
98512$1,980+11.9%
98513$2,200+24.3%
98516$2,280+28.8%
98530$1,7700.0%
98531$1,7700.0%
98540$1,950+10.2%
98556$1,980+11.9%
98568$1,7700.0%
98576Current$1,770—
98579$1,7700.0%
98589$1,7700.0%
98597$1,850+4.5%

Questions about ZIP 98576 rents

How much will Section 8 pay for a two-bedroom in ZIP 98576?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,946, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,751 to $2,141 a month; under the ZIP-level Small Area FMR of $1,770 it would be $1,593 to $1,947. 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 98576 in?

ZIP 98576 is in the Olympia-Lacey-Tumwater, WA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,946.

How much did fair market rent change in ZIP 98576 for FY 2027?

The two-bedroom FMR rose 6.6%, from $1,660 in FY 2026 to $1,770 in FY 2027. Since FY 2023 it has risen 51.3%.

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