Location: Humboldt County, CA | Metro: Humboldt County, CA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,100 |
| 1 Bedroom | $1,170 |
| 2 Bedrooms | $1,530 |
| 3 Bedrooms | $2,120 |
| 4 Bedrooms | $2,560 |
| 5 Bedrooms | $2,970 |
| 6 Bedrooms | $3,326 |
| 7 Bedrooms | $3,592 |
| 8 Bedrooms | $3,772 |
U.S. Census Bureau data (2024)
The median income in ZIP code 95551 stands at $64,519, which is notably lower than the market rate for rent at $1,140 per month according to the Census ACS data. This suggests that a significant portion of households might find it challenging to meet the market rent without financial strain.
Comparatively, the Fair Market Rent (FMR) for the area, set at $1,570 for fiscal year 2026, is even higher than the market rate. This discrepancy indicates that the actual cost of living, as reflected by the FMR, exceeds what most residents can comfortably afford based on their median income. The gap between the median income and both the market rate and FMR highlights the financial pressure many renters face.
In ZIP 95551, where 58.6% of the 1,880 residents are renters, the affordability gap poses a significant challenge for landlords. It means that competition for tenants who can pay the market rate is intense, and many potential renters might seek assistance through housing vouchers to cover their rent.
The takeaway for landlords is clear: accepting housing vouchers can be a strategic move to secure tenants in a competitive market. While the voucher payment standard of $1,570 is higher than the current market rate of $1,140, landlords should consider the reliability of voucher payments and the steady stream of income they provide. This strategy can help landlords maintain occupancy rates and manage their properties effectively amidst the affordability challenges faced by local renters.
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.