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Mason County/Shelton/98584

98584

ZIPSAFMR
Mason County, WA
Zillow

ZIP Investment Score

68Below average

095130300
BRFMR
Eff. Rent
0 BR$1,160$1,220
1 BR$1,220$1,320
2 BR$1,590$1,710
3 BR$2,200$2,070
4 BR$2,350$2,040
5 BR$2,703Not available
6 BR$3,108Not available
7 BR$3,574Not available
8 BR$4,110Not available

Purchase Price Calculator

Maximum purchase price
$192,189

Cost breakdown

+Likely effective rent$1,710
HUD FMR$1,590
Market rent$1,770
Est. payment standard (107%)Used$1,710
-Principal and interest-$972
Loan amount$153,751
Down payment$38,438
Rate6.50%
Term30 years
-Operating costs-$538
Property taxes-$192
Insurance-$175
Utilities$0
HOA$0
Management-$171
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$27,486(71.5% ROI)
Projected value
$206,966
Return breakdown
Property appreciation+$14,778
Loan principal paid down+$5,509
Rental cash flow+$7,200
5-year hold
+$47,078(122.5% ROI)
Projected value
$217,444
Return breakdown
Property appreciation+$25,255
Loan principal paid down+$9,823
Rental cash flow+$12,000
10-year hold
+$101,236(263.4% ROI)
Projected value
$246,018
Return breakdown
Property appreciation+$53,829
Loan principal paid down+$23,407
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.93
1 BR
0.88
2 BR
0.90
3 BR
1.06
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 98584 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98584 (Shelton, WA) is $1,590 a month. That is up 15.2% from $1,380 in FY 2026. Shelton is in the Mason County, WA non-metropolitan 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 county-wide two-bedroom FMR of $1,572. Among 15 ZIP codes in Mason County, 98584 has the 6th-highest two-bedroom rent (county range $1,220–$2,860). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98584 is 8% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98584
BedroomsFY 2027Change90–110% range
Studio$1,160+10.5%$1,044–$1,276
1BR$1,220+16.2%$1,098–$1,342
2BR$1,590+15.2%$1,431–$1,749
3BR$2,200+14.6%$1,980–$2,420
4BR$2,350+9.8%$2,115–$2,585

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98584
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,160$1,220$1,590$2,200$2,350
FY 2026$1,050$1,050$1,380$1,920$2,140
FY 2025$970$980$1,280$1,790$1,950
FY 2024area FMR$866$1,040$1,278$1,801$1,885
FY 2023area FMR$790$1,046$1,181$1,678$1,691

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Mason County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98584
98524$1,510−5.0%
98528$1,830+15.1%
98541$1,220−23.3%
98546$1,480−6.9%
98548$1,570−1.3%
98555$1,570−1.3%
98557$1,300−18.2%
98560$1,420−10.7%
98563$1,560−1.9%
98584Current$1,590—
98588$1,740+9.4%
98592$1,580−0.6%

Questions about ZIP 98584 rents

How much will Section 8 pay for a two-bedroom in ZIP 98584?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,572, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,415 to $1,729 a month; under the ZIP-level Small Area FMR of $1,590 it would be $1,431 to $1,749. 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 98584 in?

ZIP 98584 is in the Mason County, WA non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,572.

How much did fair market rent change in ZIP 98584 for FY 2027?

The two-bedroom FMR rose 15.2%, from $1,380 in FY 2026 to $1,590 in FY 2027. Since FY 2025 it has risen 24.2%.

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