Housing market/Washington/ZIP 98248
ZIP 98248 Ferndale, Washington
Bellingham, WA MSA · Washington. Census housing stock, renter economics, HUD SAFMR, LIHTC, and population change. Not a listing page and not a buy/sell score.
ZIP brief
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HUD schedule, ACS stock, and the 90–110% band for ZIP 98248 · WA — sent to you.
ZIP 98248 · WA
ACS rent vs 2BR SAFMR
ZIP 98248 — Ferndale, WA HUD Section 8 Payment Standards / SAFMR →ACS median is all-bedroom occupied rent. SAFMR is the 2-bedroom HCV benchmark.
Housing stock
ACS 2023 units-in-structure · ZCTA 98248
- 1-unit detached7,93575.1%
- 1-unit attached1911.8%
- 2–4 units4744.5%
- 5–49 units9368.9%
- 50+ units1241.2%
- Mobile9018.5%
2–4 unit share 4.5% · 5–49 unit share 8.9% · combined 2–49 13.3%.
Units by bedrooms
Rent burden
- ACS median gross rent $1,455 (all bedrooms, occupied rentals).
- Median contract rent $1,347.
- Renters paying ≥30% of income 52.2%; ≥50% 28.2%.
- FY2027 2BR SAFMR $1,790 (1.230× ACS median gross rent).
Population
28,061 residents · ACS 2023
Change versus the 2018 ACS 5-year estimate: +14.6%.
ACS 5-year estimates lag current construction. This is not a forecast.
Assisted inventory
- LIHTC: 1 projects, 51 units.
- HUD project-based assisted MF: 2 properties, 68 assisted units.
- HCV household counts (Picture of Subsidized Households) are not on this page yet.
New apartment permits
About 496 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 98248 23.4% of occupied households are renters; vacancy is 7.5%; ACS median gross rent is $1,455; population increased +14.6% between the 2018 and 2023 ACS vintages; the housing stock includes 474 units in 2–4-unit structures and 936 units in 5–49-unit structures; 1 LIHTC projects totaling 51 units; FY2027 2BR SAFMR is $1,790 versus ACS median gross rent of $1,455. 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 98248 is a Census / HUD profile for Bellingham, WA. Not a listing page. Brokerage is Georgia; out-of-state work is referral.
ZIP 98248 — Ferndale, WA HUD Section 8 Payment Standards / SAFMR·Washington ZIP directory
Nearby ZIPs in this FMR area
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 98248?
ZIP 98248 (Bellingham, WA MSA) has 28,061 residents, 9,783 households, a renter share of 23.4%, median household income of $88,566, and ACS 2023 median gross rent of $1,455. Vacancy is 7.5%. These are ZCTA estimates, not a property rent roll.
How much small multifamily housing is in 98248?
ACS counts 62 units in 2-unit buildings, 412 in 3–4 unit buildings, 214 in 5–9, 119 in 10–19, and 603 in 20–49. Combined 2–49 unit stock is 1,410 units. This is occupied-and-vacant stock, not listings for sale.
What is the Section 8 rent in 98248?
The Housing Choice Voucher benchmark is the FY2027 Small Area FMR. 2-bedroom SAFMR is $1,790. See the full schedule and 90–110% payment-standard band on the ZIP 98248 — Ferndale, WA HUD Section 8 Payment Standards / SAFMR.
Does this Washington ZIP profile include Georgia listings?
No. ZIP 98248 is Census / HUD research for Bellingham, WA MSA. 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.