Real Estate Investing in Farmington, Washington (99128)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 99128 (Farmington, WA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 18.2% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 26.1 — hard to cash-flow at these prices.
• Limited market data — this is a very small market; averages are built from few observations and can swing widely. • Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Farmington, WA (99128)?
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Market Analysis: 99128 Farmington
This part of Whitman County is not an easy win. The 99128 ZIP reflects softness in key indicators, and the playbook that works in cleaner markets often stalls here.
If the plan assumes clean turnover, on-time rent, and low maintenance on a $307K asset, 99128 is the wrong submarket. If the plan prices in friction, the yield can still work.
Statewide comparisons place 99128 among WA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
A durable renter share of 15% in 99128 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
New investors are better served looking at Farmington's stable or hybrid ZIPs before stepping into 99128. The learning curve here is expensive when the lesson is wrong.
Here's what matters if you're considering buying a home in Farmington:
Market Trends
Home Value History (with trend line)
📊 How Does 99128 Compare?
| Metric | 99128 | Farmington | Pullman, WA | Washington |
|---|---|---|---|---|
| Home Value | $307,039 | $307,039 | N/A | $591,536 |
| 5-Year CAGR | 3.5% | 3.5% | N/A | 5.9% |
| Avg Rent | $981 | $981 | N/A | - |
| Cap Rate | 2.5% | 2.5% | - | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 99128 (Farmington, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $307,039 |
| Monthly Rent | $981 |
| Price-to-Rent | 26.1:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.8% |
| Cap Rate | 2.5% |
| 5-Year IRR | 6.0% |
📈 Home Appreciation
| 1-Year | +1.9% ▲ |
| 3-Year CAGR | +1.4% ▲ |
| 5-Year CAGR | +3.5% ▲ |
| 10-Year CAGR | N/A |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 99128
Population: 248
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
Frequently Asked Questions
Which real estate strategy fits Farmington, WA?
Farmington, WA investors pursuing careful cash-flow rentals with hands-on management. The underlying economics ($307K prices, $981/mo rents) make it a reasonable choice.
How qualified is the tenant pool in Farmington, WA?
Working renters make up the core of the Farmington, WA tenant base. The pool is reasonable for investors targeting long-term holds.
How much rent can I charge in Farmington, WA?
Rental rates in Farmington, WA average $981/mo. Tenant demand and $307K home values make the yield look reasonable by investor standards.
How landlord-friendly is Farmington, WA?
WA law tenant-protective for landlords, and Farmington inherits those rules. Investors should still review local ordinances for rental licensing.
Is Farmington, WA suited for a house hack?
House hacking in Farmington, WA is reasonable to execute. Prices around $307K and rents of $981/mo solid owner-occupant economics.
You know 99128 now. You don’t know where it ranks.
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How 99128 ranks in Pullman, WA
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