Location: Calaveras County, CA | Metro: Calaveras County, CA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $980 |
| 1 Bedroom | $1,060 |
| 2 Bedrooms | $1,390 |
| 3 Bedrooms | $1,940 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
U.S. Census Bureau data (2024)
The ZIP code 95232 presents several challenges for landlords considering participation in the Section 8 program. Tenant turnover is a significant concern, especially when comparing the local market rent to the Federal Market Rent (FMR) of $1,290 set for fiscal year 2026. The absence of specific market rent data suggests that local rents might be either below or above this benchmark, creating uncertainty in maintaining occupancy levels.
Vacancy exposure is another critical issue. With no data on the days on market (DOM), it's unclear how long properties might remain vacant between tenants. This can lead to significant financial losses due to the lack of rental income during these periods.
Deferred maintenance poses a substantial risk given the typical home value of $311,339 and the median income of $71,023. Landlords must ensure that properties meet the necessary standards to qualify for Section 8, which can be costly. The median income figure indicates that residents in this area may struggle to cover unexpected repair costs, potentially leading to higher maintenance expenses for landlords.
However, the analysis is not entirely negative. The ZIP code has a 0.0% renter share, which typically implies a low demand for housing vouchers. In most cases, high renter density would mean more voucher demand, but the opposite is true here. This suggests that there may be fewer tenants seeking Section 8 assistance, reducing the likelihood of finding eligible tenants.
In conclusion, the combination of unknown market rents, potential vacancy issues, and deferred maintenance costs, along with the low renter share, makes ZIP 95232 a high risk area for a first-time Section 8 landlord.
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.