Location: Salinas, CA | Metro: Salinas, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,970 |
| 1 Bedroom | $2,050 |
| 2 Bedrooms | $2,430 |
| 3 Bedrooms | $3,270 |
| 4 Bedrooms | $3,560 |
| 5 Bedrooms | $4,130 |
| 6 Bedrooms | $4,626 |
| 7 Bedrooms | $4,996 |
| 8 Bedrooms | $5,246 |
The Fair Market Rent (FMR) for ZIP code 93912 in fiscal year 2024 is set at $2880. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program for this area. It's important to note that this is not the rent you will be receiving; it's the ceiling on the rent subsidy provided by the Housing Choice Voucher program.
While the local median rent for ZIP 93912 is listed as N/A, the percentage of renters in the area is N/A%. This indicates a strong demand for rental properties, especially those that offer affordable housing options. The high percentage of renters suggests that there are many individuals and families who would benefit from a Section 8 rental unit.
The acquisition cost for properties in this ZIP code is also listed as N/A. This means that when purchasing a property to convert into a Section 8 rental, you should verify the actual market value of similar properties in the area to ensure that you are making a sound investment.
Before committing to a Section 8 rental in ZIP 93912, one critical factor to verify is the condition of the property. It must meet the Housing Quality Standards (HQS), which are minimum physical conditions required for a home to be eligible for Section 8 tenancy. These standards cover safety and health requirements to ensure that the rental unit is suitable for habitation.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.