Clark County/Vancouver/98685

98685

ZIPSAFMR

Clark County, WA

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ZIP Investment Score

69Below average

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$1,630	$1,210	-5.8%
1 BR	$1,750	$1,310	-5.9%
2 BR	$2,010	$2,000	-5.6%
3 BR	$2,730	$2,480	-6.3%
4 BR	$3,280	$3,010	-5.1%
5 BR	$3,772	Not available	-5.1%
6 BR	$4,338	Not available	-5.1%
7 BR	$4,988	Not available	-5.1%
8 BR	$5,737	Not available	-5.1%

Purchase Price Calculator

Maximum purchase price

$235,283

Cost breakdown

+Likely effective rent$2,000

HUD FMR$2,010

Market rentUsed$2,000

Est. payment standard (100%)$2,000

-Principal and interest-$1,190

Loan amount$188,226

Down payment$47,057

Rate6.50%

Term30 years

-Operating costs-$610

Property taxes-$235

Insurance-$175

Utilities$0

HOA$0

Management-$200

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$32,035(68.1% ROI)

Projected value

$253,374

Return breakdown

Property appreciation+$18,091

Loan principal paid down+$6,744

Rental cash flow+$7,200

5-year hold

+$54,944(116.8% ROI)

Projected value

$266,201

Return breakdown

Property appreciation+$30,918

Loan principal paid down+$12,026

Rental cash flow+$12,000

10-year hold

+$118,554(251.9% ROI)

Projected value

$301,182

Return breakdown

Property appreciation+$65,899

Loan principal paid down+$28,655

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.35ratio

FMR$1,630

Market$1,210

vs market+$420

FMR is above market; underwrite to market rent.

1.35

1 BR

1.34ratio

FMR$1,750

Market$1,310

vs market+$440

FMR is above market; underwrite to market rent.

1.34

2 BR

1.00ratio

FMR$2,010

Market$2,000

vs market+$10

FMR is near market; voucher and private rents are aligned.

1.00

3 BR

1.10ratio

FMR$2,730

Market$2,480

vs market+$250

FMR is above market; underwrite to market rent.

1.10

4 BR

1.09ratio

FMR$3,280

Market$3,010

vs market+$270

FMR is near market; voucher and private rents are aligned.

1.09

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 98685 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 98685 (Vancouver, WA) is $2,010 a month. That is down 6.9% from $2,160 in FY 2026. Vancouver is in the Portland-Vancouver-Hillsboro, OR-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 $1,878. Among 24 ZIP codes in Clark County, 98685 has the 7th-highest two-bedroom rent (county range $1,730–$2,250). The median county two-bedroom FMR in Washington is $1,467, so ZIP 98685 is 37% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 98685
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$1,760	$1,630	−7.4%	$1,467–$1,793
1BR	$1,890	$1,750	−7.4%	$1,575–$1,925
2BR	$2,160	$2,010	−6.9%	$1,809–$2,211
3BR	$2,940	$2,730	−7.1%	$2,457–$3,003
4BR	$3,490	$3,280	−6.0%	$2,952–$3,608

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 98685
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$1,630	$1,750	$2,010	$2,730	$3,280
FY 2026	$1,760	$1,890	$2,160	$2,940	$3,490
FY 2025	$1,900	$2,040	$2,330	$3,200	$3,750
FY 2024	$1,950	$2,100	$2,390	$3,320	$3,840
FY 2023	$1,760	$1,890	$2,160	$3,020	$3,520

Two-bedroom rent in nearby Clark County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 98685
98665	$1,920	−4.5%
98666	$1,890	−6.0%
98668	$1,890	−6.0%
98671	$1,780	−11.4%
98674	$1,760	−12.4%
98675	$2,020	+0.5%
98682	$1,810	−10.0%
98683	$2,000	−0.5%
98684	$2,060	+2.5%
98685Current	$2,010	—
98686	$2,040	+1.5%
98687	$1,890	−6.0%

Questions about ZIP 98685 rents

How much will Section 8 pay for a two-bedroom in ZIP 98685?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,878, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,690 to $2,066 a month; under the ZIP-level Small Area FMR of $2,010 it would be $1,809 to $2,211. 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 98685 in?

ZIP 98685 is in the Portland-Vancouver-Hillsboro, OR-WA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,878.

How much did fair market rent change in ZIP 98685 for FY 2027?

The two-bedroom FMR fell 6.9%, from $2,160 in FY 2026 to $2,010 in FY 2027. Since FY 2023 it has fallen 6.9%.

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 rent Vancouver, WA fair market rent WA statewide rents What is SAFMR?Data sources