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Pacific County/Ocean Park/98640

98640

ZIPSAFMR
Pacific County, WA
Zillow

ZIP Investment Score

49Below average

095130300
BRFMR
Eff. Rent
0 BR$920$1,010
1 BR$1,060$1,060
2 BR$1,320$1,320
3 BR$1,830$1,830
4 BR$2,210$2,210
5 BR$2,542Not available
6 BR$2,923Not available
7 BR$3,361Not available
8 BR$3,865Not available

Purchase Price Calculator

Maximum purchase price
$134,235

Cost breakdown

+Likely effective rent$1,320
HUD FMRUsed$1,320
Market rentN/A
Est. payment standardN/A
-Principal and interest-$679
Loan amount$107,388
Down payment$26,847
Rate6.50%
Term30 years
-Operating costs-$441
Property taxes-$134
Insurance-$175
Utilities$0
HOA$0
Management-$132
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$21,369(79.6% ROI)
Projected value
$144,556
Return breakdown
Property appreciation+$10,321
Loan principal paid down+$3,847
Rental cash flow+$7,200
5-year hold
+$36,501(136.0% ROI)
Projected value
$151,875
Return breakdown
Property appreciation+$17,640
Loan principal paid down+$6,861
Rental cash flow+$12,000
10-year hold
+$77,946(290.3% ROI)
Projected value
$171,832
Return breakdown
Property appreciation+$37,597
Loan principal paid down+$16,349
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.41
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 98640 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98640 (Ocean Park, WA) is $1,320 a month. That is up 17.9% from $1,120 in FY 2026. Ocean Park is in the Pacific 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 $1,282. Among 15 ZIP codes in Pacific County, 98640 is tied for the 6th-highest two-bedroom rent (county range $1,100–$1,670). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98640 is 10% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98640
BedroomsFY 2027Change90–110% range
Studio$920+16.5%$828–$1,012
1BR$1,060+16.5%$954–$1,166
2BR$1,320+17.9%$1,188–$1,452
3BR$1,830+18.8%$1,647–$2,013
4BR$2,210+17.6%$1,989–$2,431

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98640
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$920$1,060$1,320$1,830$2,210
FY 2026$790$910$1,120$1,540$1,880
FY 2025$780$860$1,110$1,500$1,860
FY 2024area FMR$754$846$1,112$1,504$1,887
FY 2023area FMR$702$798$1,050$1,434$1,789

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

Two-bedroom rent in nearby Pacific County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 98640
98561$1,280−3.0%
98572$1,500+13.6%
98577$1,280−3.0%
98586$1,310−0.8%
98590$1,250−5.3%
98614$1,480+12.1%
98624$1,400+6.1%
98631$1,120−15.2%
98638$1,640+24.2%
98640Current$1,320—
98641$1,3200.0%
98644$1,290−2.3%

Questions about ZIP 98640 rents

How much will Section 8 pay for a two-bedroom in ZIP 98640?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $1,282, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,154 to $1,410 a month; under the ZIP-level Small Area FMR of $1,320 it would be $1,188 to $1,452. 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 98640 in?

ZIP 98640 is in the Pacific County, WA non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $1,282.

How much did fair market rent change in ZIP 98640 for FY 2027?

The two-bedroom FMR rose 17.9%, from $1,120 in FY 2026 to $1,320 in FY 2027. Since FY 2025 it has risen 18.9%.

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