FY2027 Small Area FMR · Lacey, WA

ZIP 98503 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 98503 (Lacey, WA) is $1,960 a month, down 1.5% from FY2026. That is 1% above the Olympia-Lacey-Tumwater, WA area-wide FMR of $1,946.

2-bedroom SAFMR$1,960per month ▼ 1.5%

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

Rank in the area5thof 21 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,764

2 BR Small Area FMR$1,960

110% of SAFMR$2,156

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

Studio$1,600▲ 2.6%

1 BR$1,670▼ 2.3%

2 BR$1,960▼ 1.5%

3 BR$2,560▼ 3.4%

4 BR$3,160▼ 5.4%

FY2027 FY2026

Where 98503 sits in the Olympia-Lacey-Tumwater, WA area

Of the 21 ZIP codes HUD lists for the area, 98503 has the 5th 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 $1,960 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	$1,600	$1,440 – $1,760	$1,586	$1,560
1 bedroom	$1,670	$1,503 – $1,837	$1,656	$1,710
2 bedrooms	$1,960	$1,764 – $2,156	$1,946	$1,990
3 bedrooms	$2,560	$2,304 – $2,816	$2,541	$2,650
4 bedrooms	$3,160	$2,844 – $3,476	$3,141	$3,340

A household renting a two-bedroom home at the Small Area FMR of $1,960 needs about $78,400 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 98503 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
98513	Olympia	4.3 mi	$2,200
98501	Olympia	5.0 mi	$1,930
98516	Olympia	6.0 mi	$2,280
98506	Olympia	6.9 mi	$1,780
98327	Dupont	8.4 mi	$2,630
98505	Olympia	9.1 mi	$1,880

Questions

What is the Fair Market Rent for ZIP code 98503?

HUD's FY2027 Small Area Fair Market Rents for 98503 are $1,600 (studio), $1,670 (1 BR), $1,960 (2 BR), $2,560 (3 BR) and $3,160 (4 BR) a month.

What is the Section 8 payment standard in 98503?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 98503 that range is $1,764 to $2,156 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 98503?

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.