Location: Salinas, CA | Metro: Salinas, CA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,970 |
| 1 Bedroom | $2,020 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,430 | $527,126 | 0.46% | F |
| 3BR | $3,270 | $616,766 | 0.53% | F |
| 4BR | $3,560 | $676,007 | 0.53% | F |
| 5BR | $4,130 | $769,117 | 0.54% | F |
U.S. Census Bureau data (2024)
The ZIP code 93926, Gonzales, CA, is characterized by a significant portion of its population being renters, with 45.8% of the 8,724 residents falling into this category. This makes it a notably renter-heavy area, suggesting a robust demand for rental properties, particularly those that accept Section 8 vouchers.
The median household income in Gonzales stands at $77,694, which provides a benchmark against which rental costs can be measured. The average market rent of $1,474 represents approximately 19.2% of the median income when calculated monthly. This percentage indicates that typical rents are reasonably affordable for the majority of residents, leaving a substantial portion of their income available for other living expenses.
Comparatively, the Fair Market Rent (FMR) for Gonzales, CA, as determined by HUD for FY 2024, is set at $2,410. This figure is significantly higher than the actual market rent, implying that the rental market in Gonzales is below the FMR threshold. The lower actual rent compared to the FMR suggests that there could be a surplus of rental units available, potentially leading to a competitive market for landlords. However, the presence of Section 8 vouchers can help stabilize the rental market by providing financial assistance to low-income tenants.
A landlord in Gonzales, CA, should anticipate a tenant pool that heavily relies on Section 8 vouchers due to the high percentage of renters and the relatively low median income compared to the FMR. These tenants will likely have a strong need for affordable housing options, making properties that accept vouchers highly sought after. It's important for landlords to understand the administrative requirements associated with accepting Section 8 vouchers, including income verification and rent calculation based on the voucher amount.
In summary, ZIP 93926 presents a favorable environment for landlords who are willing to participate in the Section 8 program, given the high demand for rentals and the likelihood of tenants needing financial assistance to afford housing. The actual market rent is well below both the median income and the FMR, indicating a viable opportunity for landlords to offer affordable housing solutions while maintaining a stable occupancy rate.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
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.