FY2027 Small Area FMR · Olympia, WA

ZIP 98501 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 98501 (Olympia, WA) is $1,930 a month, up 1.0% from FY2026. That is 1% below the Olympia-Lacey-Tumwater, WA area-wide FMR of $1,946.

2-bedroom SAFMR$1,930per month ▲ 1.0%

Area-wide 2 BR FMR$1,946Olympia-Lacey-Tumwater, WA

Rank in the area11thof 21 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,737

2 BR Small Area FMR$1,930

110% of SAFMR$2,123

Housing agencies may set voucher payment standards anywhere from 90% to 110% of the FMR without asking HUD.

Studio$1,570▲ 4.7%

1 BR$1,640■ 0.0%

2 BR$1,930▲ 1.0%

3 BR$2,520▼ 1.2%

4 BR$3,120▼ 2.5%

FY2027 FY2026

Where 98501 sits in the Olympia-Lacey-Tumwater, WA area

Of the 21 ZIP codes HUD lists for the area, 98501 has the 11th highest two-bedroom Small Area FMR. Olympia-Lacey-Tumwater, WA is not on HUD's list of mandatory Small Area FMR areas, so voucher payment standards here are normally based on the area-wide FMR of $1,946 for two bedrooms; an agency that opts in to Small Area FMRs would use $1,930 for this ZIP code instead.

All unit sizes

Monthly gross rent including utilities
Unit	FY2027 SAFMR	Payment standard range	Area-wide FMR	FY2026 SAFMR
Studio	$1,570	$1,413 – $1,727	$1,586	$1,500
1 bedroom	$1,640	$1,476 – $1,804	$1,656	$1,640
2 bedrooms	$1,930	$1,737 – $2,123	$1,946	$1,910
3 bedrooms	$2,520	$2,268 – $2,772	$2,541	$2,550
4 bedrooms	$3,120	$2,808 – $3,432	$3,141	$3,200

A household renting a two-bedroom home at the Small Area FMR of $1,930 needs about $77,200 a year to keep housing costs at 30% of income. The area median family income is $122,800 and the 80% low-income limit for four people is $98,250. ZIP code 98501 lies mainly in Thurston County. See the Olympia-Lacey-Tumwater, WA county page for the full income limits table and the household check.

Nearby ZIP codes

ZIP	Place	Distance	2 BR SAFMR
98503	Lacey	5.0 mi	$1,960
98513	Olympia	6.7 mi	$2,200
98505	Olympia	7.6 mi	$1,880
98556	Littlerock	8.5 mi	$1,980
98512	Olympia	8.8 mi	$1,980
98506	Olympia	9.0 mi	$1,780

Questions

What is the Fair Market Rent for ZIP code 98501?

HUD's FY2027 Small Area Fair Market Rents for 98501 are $1,570 (studio), $1,640 (1 BR), $1,930 (2 BR), $2,520 (3 BR) and $3,120 (4 BR) a month.

What is the Section 8 payment standard in 98501?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 98501 that range is $1,737 to $2,123 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 98501?

The FY2026 income limits of the Olympia-Lacey-Tumwater, WA area apply: median family income $122,800, low-income (80%) limit $98,250 for a family of four.