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Spokane County/Spokane/99217

99217

ZIPSAFMR
Spokane County, WA
Zillow

ZIP Investment Score

77Below average

095130300
BRFMR
Eff. Rent
0 BR$1,180$1,150
1 BR$1,240$1,340
2 BR$1,580$1,650
3 BR$2,170$2,130
4 BR$2,640$2,430
5 BR$3,036Not available
6 BR$3,491Not available
7 BR$4,015Not available
8 BR$4,617Not available

Purchase Price Calculator

Maximum purchase price
$183,273

Cost breakdown

+Likely effective rent$1,650
HUD FMR$1,580
Market rent$1,690
Est. payment standard (105%)Used$1,650
-Principal and interest-$927
Loan amount$146,618
Down payment$36,655
Rate6.50%
Term30 years
-Operating costs-$523
Property taxes-$183
Insurance-$175
Utilities$0
HOA$0
Management-$165
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$26,545(72.4% ROI)
Projected value
$197,365
Return breakdown
Property appreciation+$14,092
Loan principal paid down+$5,253
Rental cash flow+$7,200
5-year hold
+$45,451(124.0% ROI)
Projected value
$207,356
Return breakdown
Property appreciation+$24,084
Loan principal paid down+$9,367
Rental cash flow+$12,000
10-year hold
+$97,653(266.4% ROI)
Projected value
$234,605
Return breakdown
Property appreciation+$51,332
Loan principal paid down+$22,321
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.03
1 BR
0.89
2 BR
0.93
3 BR
1.02
4 BR
1.09
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 99217 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 99217 (Spokane, WA) is $1,580 a month. That is down 2.5% from $1,620 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, 99217 is tied for the 8th-highest two-bedroom rent (county range $1,380–$2,200). The median county two-bedroom FMR in Washington is $1,467, so ZIP 99217 is 8% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 99217
BedroomsFY 2027Change90–110% range
Studio$1,180+0.9%$1,062–$1,298
1BR$1,240−1.6%$1,116–$1,364
2BR$1,580−2.5%$1,422–$1,738
3BR$2,170−1.8%$1,953–$2,387
4BR$2,640−0.4%$2,376–$2,904

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 99217
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,180$1,240$1,580$2,170$2,640
FY 2026$1,170$1,260$1,620$2,210$2,650
FY 2025$1,060$1,200$1,540$2,130$2,490
FY 2024$950$1,080$1,390$1,960$2,270
FY 2023$850$970$1,260$1,790$2,090

Two-bedroom rent in nearby Spokane County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 99217
99210$1,490−5.7%
99211$1,490−5.7%
99212$1,430−9.5%
99213$1,490−5.7%
99214$1,490−5.7%
99216$1,550−1.9%
99217Current$1,580—
99218$1,380−12.7%
99219$1,490−5.7%
99220$1,490−5.7%
99223$1,570−0.6%
99224$1,560−1.3%

Questions about ZIP 99217 rents

How much will Section 8 pay for a two-bedroom in ZIP 99217?

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 $1,580 it would be $1,422 to $1,738. 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 99217 in?

ZIP 99217 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 99217 for FY 2027?

The two-bedroom FMR fell 2.5%, from $1,620 in FY 2026 to $1,580 in FY 2027. Since FY 2023 it has risen 25.4%.

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