JeffCroweCRE

Housing market/Washington/ZIP 98059

ACS 2023 · FY2027 SAFMR

ZIP 98059 Renton, Washington

Seattle-Bellevue, WA HUD Metro FMR Area · Washington. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.

Population
41,639
Households
14,642
Median HH income
$134,336
Renter share
22.4%
Median gross rent
$2,230
Vacancy
2.4%
Pop. change
+8.5%
2BR SAFMR
$2,770
SAFMR / rent
1.242×
2–49 unit stock
1,766
LIHTC proj / units
—
HUD assisted MF
—

ZIP brief

Email this profile

HUD schedule, ACS stock, and the 90–110% band for ZIP 98059 · WA — sent to you.

ZIP 98059 · WA

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ACS rent vs 2BR SAFMR

ZIP 98059 — Renton, WA HUD Section 8 Payment Standards / SAFMR →
ACS median rent$2,230
2BR SAFMR$2,770
90% floor$2,493
110% ceiling$3,047

ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.

Housing stock

ACS 2023 units-in-structure · ZCTA 98059

  • 1-unit detached10,81672.1%
  • 1-unit attached9446.3%
  • 2–4 units7014.7%
  • 5–49 units1,0657.1%
  • 50+ units8895.9%
  • Mobile5863.9%
TypeUnitsShare
1-unit detached10,81672.1%
1-unit attached9446.3%
2 units (duplex)2081.4%
3–4 units4933.3%
5–9 units2611.7%
10–19 units3752.5%
20–49 units4292.9%
50+ units8895.9%
Mobile5863.9%

2–4 unit share 4.7% · 5–49 unit share 7.1% · combined 2–49 11.8%.

Units by bedrooms

Studio
322
1BR
880
2BR
2,530
3BR
5,035
4BR
4,659
5+
1,575

Rent burden

Rent ≥30% of income44.3%
Rent ≥50% of income23.6%
  • ACS median gross rent $2,230 (all bedrooms, occupied rentals).
  • Median contract rent $2,090.
  • Renters paying ≥30% of income 44.3%; ≥50% 23.6%.
  • FY2027 2BR SAFMR $2,770 (1.242× ACS median gross rent).

Population

41,639 residents · ACS 2023

Change versus the 2018 ACS 5-year estimate: +8.5%.

ACS 5-year estimates lag current construction. This is not a forecast.

Assisted inventory

  • LIHTC: not published for this ZIP.
  • HUD project-based assisted MF: not published for this ZIP.
  • HCV household counts (Picture of Subsidized Households) are not on this page yet.

New apartment permits

About 5,102 new apartments in 5+ unit buildings may have been permitted in this ZIP’s share of the county. That is units (doors), not a building count.

Cities and counties report building permits to the Census. Apartment counts are for the whole county, not a project list in this ZIP.

What the data shows

ZIP 98059 22.4% of occupied households are renters; vacancy is 2.4%; ACS median gross rent is $2,230; population increased +8.5% between the 2018 and 2023 ACS vintages; the housing stock includes 701 units in 2–4-unit structures and 1,065 units in 5–49-unit structures; FY2027 2BR SAFMR is $2,770 versus ACS median gross rent of $2,230. These figures describe the underlying housing market, not the cash flow of any one property. Asking rents, expenses, condition, taxes, insurance, and the rent roll have to be underwritten separately.

Washington research

ZIP 98059 is a Census / HUD profile for Seattle-Bellevue, WA. Not a listing page. Brokerage is Georgia; out-of-state work is referral.

ZIP 98059 — Renton, WA HUD Section 8 Payment Standards / SAFMR·Washington ZIP directory

Nearby ZIPs in this FMR area

ZIPPlaceRentersMed. rent2BR SAFMR
98002Seattle-Bellevue, WA HUD Metro FMR Area50.2%$1,613$2,04098003Seattle-Bellevue, WA HUD Metro FMR Area52.3%$1,650$2,24098004Seattle-Bellevue, WA HUD Metro FMR Area63.8%$2,706$3,82098005Seattle-Bellevue, WA HUD Metro FMR Area48.9%$2,380$2,95098006Seattle-Bellevue, WA HUD Metro FMR Area20.4%$2,869$3,56098007Seattle-Bellevue, WA HUD Metro FMR Area65.3%$2,276$3,03098008Seattle-Bellevue, WA HUD Metro FMR Area27.0%$2,480$3,27098009Seattle-Bellevue, WA HUD Metro FMR Area——$2,60098010Seattle-Bellevue, WA HUD Metro FMR Area12.4%$2,304$2,59098011Seattle-Bellevue, WA HUD Metro FMR Area42.8%$2,223$2,75098012Seattle-Bellevue, WA HUD Metro FMR Area33.5%$2,279$2,78098014Seattle-Bellevue, WA HUD Metro FMR Area9.5%$1,740$2,650

Census ZIP areas approximate mail ZIPs. Sources: Census ACS 5-year 2023, HUD FY2027 Small Area FMR, HUD LIHTC and assisted multifamily lists, Census building permits (county). This page is Washington research. Brokerage is Georgia.

FAQ

What is the housing market like in ZIP 98059?

ZIP 98059 (Seattle-Bellevue, WA HUD Metro FMR Area) has 41,639 residents, 14,642 households, a renter share of 22.4%, median household income of $134,336, and ACS 2023 median gross rent of $2,230. Vacancy is 2.4%. These are ZCTA estimates, not a property rent roll.

How much small multifamily housing is in 98059?

ACS counts 208 units in 2-unit buildings, 493 in 3–4 unit buildings, 261 in 5–9, 375 in 10–19, and 429 in 20–49. Combined 2–49 unit stock is 1,766 units. This is occupied-and-vacant stock, not listings for sale.

What is the Section 8 rent in 98059?

The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $2,770. See the full schedule and 90–110% payment-standard band on the ZIP 98059 — Renton, WA HUD Section 8 Payment Standards / SAFMR.

Does this Washington ZIP profile include Georgia listings?

No. ZIP 98059 is Census / HUD research for Seattle-Bellevue, WA HUD Metro FMR Area. Jeff Crowe CRE does not list Washington property. Licensed brokerage is Georgia. If you use this stock table and then buy in Georgia, live FMLS Residential Income is on multifamily for sale in Georgia.