Location: Redding, CA | Metro: Redding, CA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,290 |
| 1 Bedroom | $1,300 |
| 2 Bedrooms | $1,700 |
| 3 Bedrooms | $2,350 |
| 4 Bedrooms | $2,840 |
| 5 Bedrooms | $3,294 |
| 6 Bedrooms | $3,689 |
| 7 Bedrooms | $3,984 |
| 8 Bedrooms | $4,183 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,350 | $445,948 | 0.53% | F |
U.S. Census Bureau data (2024)
The ZIP code 96008 stands out within its county due to several unique characteristics. With only 1,054 residents, it has a relatively low population density. Despite this, 16.2% of the residents rent their homes, which is a noteworthy figure considering the overall small number of inhabitants. The median income in ZIP 96008 is $92,313, indicating a higher-than-average economic status among its residents. This is further supported by the median home value, which is $427,141, suggesting that homeownership is a significant factor in the local economy.
Moving to the specifics of Section 8 housing, the Fair Market Rent (FMR) for ZIP 96008 in fiscal year 2024 is set at $1,440. However, there is no available market rent data to compare against this figure, making it challenging to assess the exact impact of the FMR on the local rental market. Landlords and small-portfolio investors should note that the FMR can provide a stable source of income, particularly if the local rental market is volatile or underreported.
In terms of stability, the data signature for ZIP 96008 reads as "stable." The high median income and home values suggest a consistent economic environment where residents are likely to have the financial means to maintain stable living situations. The percentage of renters, while not overwhelming, provides a steady demand for rental properties, especially those that qualify for Section 8 vouchers. For investors looking to enter the Section 8 market, ZIP 96008 presents an opportunity within a stable economic framework.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.