Location: Del Norte County, CA | Metro: Del Norte County, CA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $990 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,420 |
| 3 Bedrooms | $1,920 |
| 4 Bedrooms | $2,250 |
| 5 Bedrooms | $2,610 |
| 6 Bedrooms | $2,923 |
| 7 Bedrooms | $3,157 |
| 8 Bedrooms | $3,315 |
U.S. Census Bureau data (2024)
The ZIP code 95567 presents an interesting scenario for both renters and landlords. Given the median income of $102,734, households in this area have a strong financial foundation, but the market rate for rent is not available, making it challenging to assess the overall affordability for renters.
However, when comparing the median income to the Fair Market Rent (FMR) standard set at $1,410 for the metro area in fiscal year 2026, we can infer some key points. This FMR represents a reasonable estimate of the housing costs for low- and moderate-income families, and it suggests that the typical renter in ZIP 95567 could comfortably afford the FMR without significant strain on their budget. In fact, based on the median income, a household might be able to allocate a portion of their earnings towards higher rent payments, potentially above the FMR.
With only 21.0% of the population being renters and a total population of 2,058, the competition among landlords is relatively low compared to areas with a higher percentage of renters. This means landlords in ZIP 95567 do not face intense competition for tenants, which can be advantageous when setting rental prices and terms.
The affordability gap in this context refers to the difference between what renters can afford and the actual market rates. Since the market rate is not specified, it's difficult to quantify this gap precisely. However, if the market rate significantly exceeds the FMR, there could be a notable gap, indicating that many potential renters might struggle to find affordable housing without assistance.
For landlords considering their strategy, focusing on voucher acceptance can be beneficial. While the voucher payment standard at $1,410 might seem lower than market rates, accepting vouchers ensures a steady stream of tenants who are financially backed by the government. This strategy can help landlords secure occupancy in a competitive yet niche rental market. On the other hand, landlords who prefer cash-paying tenants can leverage the higher median income to command rents that reflect the area's economic strength.
The takeaway for landlords is clear: while the voucher strategy offers stability and a reliable tenant base, the cash-pay approach allows for potentially higher revenue. Landlords should consider their long-term goals and the specific dynamics of the local rental market before deciding on their preferred strategy.
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.