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Spokane County/Spokane/99207

99207

ZIPSAFMR
Spokane County, WA
Zillow

ZIP Investment Score

81Below average

095130300
BRFMR
Eff. Rent
0 BR$1,070$1,090
1 BR$1,120$1,220
2 BR$1,430$1,460
3 BR$1,960$1,870
4 BR$2,390$2,090
5 BR$2,749Not available
6 BR$3,161Not available
7 BR$3,635Not available
8 BR$4,180Not available

Purchase Price Calculator

Maximum purchase price
$155,039

Cost breakdown

+Likely effective rent$1,460
HUD FMR$1,430
Market rent$1,470
Est. payment standard (102%)Used$1,460
-Principal and interest-$784
Loan amount$124,031
Down payment$31,008
Rate6.50%
Term30 years
-Operating costs-$476
Property taxes-$155
Insurance-$175
Utilities$0
HOA$0
Management-$146
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$23,565(76.0% ROI)
Projected value
$166,960
Return breakdown
Property appreciation+$11,921
Loan principal paid down+$4,444
Rental cash flow+$7,200
5-year hold
+$40,298(130.0% ROI)
Projected value
$175,412
Return breakdown
Property appreciation+$20,373
Loan principal paid down+$7,924
Rental cash flow+$12,000
10-year hold
+$86,306(278.3% ROI)
Projected value
$198,463
Return breakdown
Property appreciation+$43,424
Loan principal paid down+$18,882
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.97
1 BR
0.88
2 BR
0.97
3 BR
1.05
4 BR
1.14
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 99207 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 99207 (Spokane, WA) is $1,430 a month. That is down 3.4% from $1,480 in FY 2026. Spokane 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, 99207 is tied for the 28th-highest two-bedroom rent (county range $1,380–$2,200). The median county two-bedroom FMR in Washington is $1,467, so ZIP 99207 is 3% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 99207
BedroomsFY 2027Change90–110% range
Studio$1,0700.0%$963–$1,177
1BR$1,120−2.6%$1,008–$1,232
2BR$1,430−3.4%$1,287–$1,573
3BR$1,960−3.0%$1,764–$2,156
4BR$2,390−1.2%$2,151–$2,629

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 99207
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,070$1,120$1,430$1,960$2,390
FY 2026$1,070$1,150$1,480$2,020$2,420
FY 2025$970$1,100$1,410$1,950$2,280
FY 2024$880$1,000$1,290$1,820$2,110
FY 2023$760$870$1,120$1,590$1,860

Two-bedroom rent in nearby Spokane County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 99207
99201$1,380−3.5%
99202$1,380−3.5%
99203$1,440+0.7%
99204$1,380−3.5%
99205$1,510+5.6%
99206$1,410−1.4%
99207Current$1,430—
99208$1,570+9.8%
99209$1,490+4.2%
99210$1,490+4.2%
99211$1,490+4.2%
99212$1,4300.0%

Questions about ZIP 99207 rents

How much will Section 8 pay for a two-bedroom in ZIP 99207?

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 $1,430 it would be $1,287 to $1,573. 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 99207 in?

ZIP 99207 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 99207 for FY 2027?

The two-bedroom FMR fell 3.4%, from $1,480 in FY 2026 to $1,430 in FY 2027. Since FY 2023 it has risen 27.7%.

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