Real Estate Investing in Forks, Washington (98331)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98331 (Forks, 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: 16.5% 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 27.9 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Forks, WA (98331)?
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Market Analysis: 98331 Forks
On the rental side, ZIP 98331 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $341K median. It rewards specialists, not generalists.
For an experienced owner, 98331 can be a a viable market for hunting ground — but the discount at $341K reflects genuine risk that outside investors often underestimate.
Statewide comparisons place 98331 among WA's softer markets. That context does not make the ZIP uninvestable, but it does raise the bar for due diligence.
A significant renter share of 34% in 98331 is not, on its own, a problem — but paired with below-average income and high mobility, it changes the operating playbook.
Distressed ZIPs reward experience. notable returns are possible in 98331, but they flow to investors who already understand how to operate in soft markets.
Here's what matters if you're considering buying a home in Forks:
Property Strategy for 98331
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $276,543 | $1,130 | 2.9% | +8.5% | $138,272 |
| 3BR | $349,944 | $1,570 | 3.2% | +7.1% | $116,648 |
Market Trends
Home Value History (with trend line)
📊 How Does 98331 Compare?
| Metric | 98331 | Forks | Port Angeles, WA | Washington |
|---|---|---|---|---|
| Home Value | $340,791 | $340,791 | N/A | $591,536 |
| 5-Year CAGR | 4.7% | 4.7% | N/A | 5.9% |
| Avg Rent | $1,017 | $1,017 | N/A | - |
| Cap Rate | 2.3% | 2.3% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98331 (Forks, WA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $340,791 |
| Monthly Rent | $1,017 |
| Price-to-Rent | 27.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 3.6% |
| Cap Rate | 2.3% |
| 5-Year IRR | 7.0% |
📈 Home Appreciation
| 1-Year | +3.2% ▲ |
| 3-Year CAGR | +2.6% ▲ |
| 5-Year CAGR | +4.7% ▲ |
| 10-Year CAGR | +7.9% ▲ |
🏠 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 (2.3%). 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 98331
Population: 5,526
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
🎓 Schools in 98331
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
Frequently Asked Questions
How much should I expect to pay for a home in Forks, WA?
Expect median prices around $341K in Forks, WA. The market has run at a 0.0% 5-year CAGR, so entry costs have been measured.
What is the renter demographic in Forks, WA?
Tenant quality in Forks, WA ranks as solid. Landlords generally report consistent occupancy at market rents of $1,017/mo.
What is the average monthly rent in Forks, WA?
Rent in Forks, WA is around $1,017/mo. The resulting rent-to-value relationship with $341K pricing is reasonable for most investor models.
Is Forks, WA a good market for FHA house hackers?
Forks, WA is a a challenging market for house hackers. FHA or conventional owner-occupant buyers find the $341K price point reasonable to enter.
Are landlord laws favorable in Forks, WA?
Rental owners in Forks, WA deal with a tenant-protective legal framework. Most standard eviction processes run on reasonable timelines.
You know 98331 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98331 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 98331 ranks in Port Angeles, WA
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