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 | $470,766 | 0.52% | F |
| 3BR | $3,270 | $532,282 | 0.61% | D |
| 4BR | $3,560 | $606,379 | 0.59% | F |
| 5BR | $4,130 | $685,457 | 0.6% | D |
U.S. Census Bureau data (2024)
The potential pitfalls for a Section 8 landlord in ZIP 93927, Greenfield, CA, are significant. Tenant turnover can be a major issue, especially when comparing the market rent of $1,671 to the Federal Market Rent (FMR) of $2,620 for fiscal year 2024. This discrepancy suggests that tenants may struggle to cover their portion of the rent, leading to higher turnover rates and increased administrative burdens.
Vacancy exposure is another critical risk factor. With an average days on market (DOM) of N/A, it's challenging to predict how long a property might remain vacant between tenants. This unpredictability can lead to periods of non-rent collection, which directly impacts cash flow and profitability.
Deferred maintenance is also a concern. Given the typical home value of $547,226 and a median household income of $82,500, many tenants may lack the financial resources to keep up with necessary repairs and maintenance. Landlords must be prepared to manage these costs themselves, which can add considerable expense to the overall investment.
Despite these risks, the high renter share of 48.0% in Greenfield points towards robust demand for rental properties. A large proportion of renters typically translates into a strong interest in Section 8 vouchers, providing a stable source of income for landlords willing to participate in the program.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.