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Spokane County/Greenacres/99016

99016

ZIPSAFMR
Spokane County, WA
Zillow

ZIP Investment Score

66Below average

095130300
BRFMR
Eff. Rent
0 BR$1,630$1,520
1 BR$1,710$1,470
2 BR$2,180$1,980
3 BR$2,990$2,470
4 BR$3,640$2,840
5 BR$4,186Not available
6 BR$4,814Not available
7 BR$5,536Not available
8 BR$6,366Not available

Purchase Price Calculator

Maximum purchase price
$232,311

Cost breakdown

+Likely effective rent$1,980
HUD FMR$2,180
Market rentUsed$1,980
Est. payment standard (94%)$2,050
-Principal and interest-$1,175
Loan amount$185,849
Down payment$46,462
Rate6.50%
Term30 years
-Operating costs-$605
Property taxes-$232
Insurance-$175
Utilities$0
HOA$0
Management-$198
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$31,721(68.3% ROI)
Projected value
$250,173
Return breakdown
Property appreciation+$17,863
Loan principal paid down+$6,659
Rental cash flow+$7,200
5-year hold
+$54,401(117.1% ROI)
Projected value
$262,838
Return breakdown
Property appreciation+$30,528
Loan principal paid down+$11,874
Rental cash flow+$12,000
10-year hold
+$117,360(252.6% ROI)
Projected value
$297,377
Return breakdown
Property appreciation+$65,067
Loan principal paid down+$28,293
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.07
1 BR
1.16
2 BR
1.10
3 BR
1.21
4 BR
1.28
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 99016 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 99016 (Greenacres, WA) is $2,180 a month. That is up 3.3% from $2,110 in FY 2026. Greenacres is in the Spokane, 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 $1,494. Among 57 ZIP codes in Spokane County, 99016 has the 2nd-highest two-bedroom rent (county range $1,380–$2,200). The median county two-bedroom FMR in Washington is $1,467, so ZIP 99016 is 49% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 99016
BedroomsFY 2027Change90–110% range
Studio$1,630+7.2%$1,467–$1,793
1BR$1,710+4.3%$1,539–$1,881
2BR$2,180+3.3%$1,962–$2,398
3BR$2,990+3.8%$2,691–$3,289
4BR$3,640+5.5%$3,276–$4,004

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 99016
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,630$1,710$2,180$2,990$3,640
FY 2026$1,520$1,640$2,110$2,880$3,450
FY 2025$1,270$1,430$1,840$2,540$2,980
FY 2024$1,090$1,240$1,600$2,250$2,610
FY 2023$980$1,120$1,450$2,060$2,410

Two-bedroom rent in nearby Spokane County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 99016
99009$1,380−36.7%
99011$2,000−8.3%
99012$1,380−36.7%
99013$1,380−36.7%
99014$1,380−36.7%
99016Current$2,180—
99018$1,380−36.7%
99019$2,200+0.9%
99020$1,390−36.2%
99021$1,600−26.6%
99022$1,380−36.7%
99023$2,020−7.3%

Questions about ZIP 99016 rents

How much will Section 8 pay for a two-bedroom in ZIP 99016?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,494, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,345 to $1,643 a month; under the ZIP-level Small Area FMR of $2,180 it would be $1,962 to $2,398. 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 99016 in?

ZIP 99016 is in the Spokane, WA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,494.

How much did fair market rent change in ZIP 99016 for FY 2027?

The two-bedroom FMR rose 3.3%, from $2,110 in FY 2026 to $2,180 in FY 2027. Since FY 2023 it has risen 50.3%.

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