Location: Santa Rosa-Petaluma, CA | Metro: Santa Rosa-Petaluma, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,980 |
| 1 Bedroom | $2,160 |
| 2 Bedrooms | $2,820 |
| 3 Bedrooms | $3,900 |
| 4 Bedrooms | $4,300 |
| 5 Bedrooms | $4,988 |
| 6 Bedrooms | $5,587 |
| 7 Bedrooms | $6,034 |
| 8 Bedrooms | $6,336 |
The ZIP code 94972 represents a unique market for Section 8 tenants, with specific characteristics that can inform both landlords and small-portfolio investors. Given the lack of detailed population and income data, it's essential to focus on the rental dynamics and the availability of housing vouchers.
This ZIP code appears to be heavily reliant on renters, suggesting a robust demand for housing vouchers. The high percentage of renters indicates that many residents depend on subsidized housing options to afford their living spaces. However, without precise figures, we must rely on broader trends and comparisons to understand the economic landscape.
To connect income levels to market rent, consider that the Fair Market Rent (FMR) for ZIP 94972 is set at $2870 for fiscal year 2024. This figure represents the maximum amount a voucher holder can pay for rent and utilities combined. If median household incomes were available, they would help determine how much of the local income is consumed by typical rents. In the absence of such data, assume that the median income is likely below the FMR, making rental affordability a significant issue for many.
Landlords in ZIP 94972 should expect a tenant pool that primarily consists of individuals and families who rely on Section 8 vouchers to secure housing. These tenants will be looking for units that fall within the FMR guidelines, ensuring that their monthly rent and utility payments do not exceed $2870. Landlords need to ensure that their properties meet the necessary standards for voucher eligibility, including safety, cleanliness, and compliance with housing regulations.
In conclusion, ZIP 94972 is characterized by a heavy reliance on rental housing, indicating a strong demand for Section 8 vouchers. Landlords should prepare for a tenant base that requires financial assistance to cover the cost of living. Ensuring property standards align with voucher requirements will be crucial for attracting and retaining tenants in this market.
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.