Location: Stockton-Lodi, CA | Metro: Stockton-Lodi, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,530 |
| 1 Bedroom | $1,630 |
| 2 Bedrooms | $2,020 |
| 3 Bedrooms | $2,800 |
| 4 Bedrooms | $3,380 |
| 5 Bedrooms | $3,921 |
| 6 Bedrooms | $4,392 |
| 7 Bedrooms | $4,743 |
| 8 Bedrooms | $4,980 |
The economics of Section 8 in ZIP code 95269, located in Stockton-Lodi County, California, revolve around the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $1610 for fiscal year 2024. This SAFMR figure is specifically tailored for this ZIP code, reflecting the unique rental dynamics of the area.
A common misconception among landlords is that the entire SAFMR amount is paid directly to them. However, the actual payment structure involves the tenant contributing a portion of their income towards the rent, typically 30% of their adjusted monthly income. For example, if a tenant's adjusted monthly income is $1500, they would contribute $450 towards the rent. The remaining balance is then covered by the Section 8 voucher program.
In addition to the base rent, the voucher program also includes utility allowances. These allowances vary but are designed to cover the cost of utilities such as electricity, water, and gas. If we assume an average utility allowance of $200 per month, the total reimbursement to the landlord would be the SAFMR amount minus the tenant's contribution plus the utility allowance.
Using our example, the landlord would receive $1610 - $450 + $200 = $1360 per month. This calculation shows the landlord's net income from the voucher program, which is less than the SAFMR but still provides a stable source of rental income.
However, it's important to note that the local market rent for ZIP 95269 is currently unavailable, which makes it difficult to compare the SAFMR with the prevailing market rates. Without this data, it's impossible to determine if there is a surplus or a gap between the voucher reimbursement and the market rent. Landlords should stay informed about the local rental market trends to make informed decisions regarding their participation in the Section 8 program.
To summarize, landlords in ZIP 95269 can expect a reimbursement of approximately $1360 per month for a two-bedroom apartment when factoring in the tenant's contribution and utility allowances. The exact surplus or gap in reimbursement compared to the local market rent cannot be determined without additional data on current market rates.
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.