FY2027 Small Area FMR · Olympia, WA

ZIP 98512 Fair Market Rent & Payment Standards

HUD's FY2027 Small Area Fair Market Rent for a two-bedroom home in ZIP code 98512 (Olympia, WA) is $1,980 a month, down 0.5% from FY2026. That is 2% above the Olympia-Lacey-Tumwater, WA area-wide FMR of $1,946.

2-bedroom SAFMR$1,980per month ▼ 0.5%

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

Rank in the area3rdof 21 ZIP codes

Payment standard range, 2 bedrooms

90% of SAFMR$1,782

2 BR Small Area FMR$1,980

110% of SAFMR$2,178

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

Studio$1,610▲ 3.2%

1 BR$1,690▼ 1.2%

2 BR$1,980▼ 0.5%

3 BR$2,590▼ 2.3%

4 BR$3,200▼ 4.2%

FY2027 FY2026

Where 98512 sits in the Olympia-Lacey-Tumwater, WA area

Of the 21 ZIP codes HUD lists for the area, 98512 has the 3rd 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 $1,980 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	$1,610	$1,449 – $1,771	$1,586	$1,560
1 bedroom	$1,690	$1,521 – $1,859	$1,656	$1,710
2 bedrooms	$1,980	$1,782 – $2,178	$1,946	$1,990
3 bedrooms	$2,590	$2,331 – $2,849	$2,541	$2,650
4 bedrooms	$3,200	$2,880 – $3,520	$3,141	$3,340

A household renting a two-bedroom home at the Small Area FMR of $1,980 needs about $79,200 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 98512 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
98556	Littlerock	5.5 mi	$1,980
98505	Olympia	7.5 mi	$1,880
98502	Olympia	8.0 mi	$1,880
98501	Olympia	8.8 mi	$1,930
98557	Mccleary	10.8 mi	$1,300
98559	Malone	12.5 mi	$1,350

Questions

What is the Fair Market Rent for ZIP code 98512?

HUD's FY2027 Small Area Fair Market Rents for 98512 are $1,610 (studio), $1,690 (1 BR), $1,980 (2 BR), $2,590 (3 BR) and $3,200 (4 BR) a month.

What is the Section 8 payment standard in 98512?

Housing agencies set payment standards between 90% and 110% of the applicable FMR without HUD approval. For a two-bedroom unit in 98512 that range is $1,782 to $2,178 if the agency uses Small Area FMRs. Ask your housing agency for its actual payment standard.

Which income limits apply in 98512?

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.