Location: Vallejo, CA | Metro: Vallejo, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,490 |
| 1 Bedroom | $1,640 |
| 2 Bedrooms | $2,050 |
| 3 Bedrooms | $2,670 |
| 4 Bedrooms | $3,050 |
| 5 Bedrooms | $3,538 |
| 6 Bedrooms | $3,963 |
| 7 Bedrooms | $4,280 |
| 8 Bedrooms | $4,494 |
U.S. Census Bureau data (2024)
The ZIP code 94512 stands out due to its unique characteristics among rental markets. With only 130 residents, it represents a highly concentrated rental area where 100.0% of the population rents their homes. This indicates a specialized community that might be composed primarily of students, young professionals, or those who prefer renting over homeownership.
Despite the lack of specific data points for median income and median home value, the Federal Market Rent (FMR) for ZIP 94512 in fiscal year 2024 is set at $2310. The FMR serves as a benchmark for determining the payment standard for Section 8 housing vouchers. In comparison to the general market rent, which is currently unavailable, landlords can use the FMR as a guideline for setting competitive rental rates that align with government assistance programs.
The voucher economics in ZIP 94512 are straightforward. Landlords participating in the Section 8 program can expect the Housing Authority to pay a portion of the rent based on the tenant's income, up to the FMR limit. For instance, if a tenant's income qualifies them for a subsidy, the Housing Authority will cover the difference between the tenant's contribution and the FMR, ensuring that the total rent does not exceed $2310 per month.
Given the limited data available, such as the absence of median income and median home value figures, it is difficult to assess long-term stability. However, the high percentage of renters suggests a potentially transient population, indicating that ZIP 94512 could be classified as "transitional." This classification implies that while the area may have a steady flow of tenants, there could be frequent changes in occupancy, making it important for landlords to understand the dynamics of short-term tenancy and the benefits of participating in the Section 8 program.
To conclude, ZIP 94512 presents a niche opportunity for landlords and small-portfolio investors interested in a highly rented market. The FMR provides a clear economic framework for setting rents and participating in the Section 8 program, which can help stabilize cash flows despite the transitional nature of the area. Understanding these dynamics is key to successfully navigating the rental landscape in this ZIP code.
Data Sources: FMR data from HUD (2027). 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.