Location: Redding, CA | Metro: Redding, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,060 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $1,990 |
| 4 Bedrooms | $2,410 |
| 5 Bedrooms | $2,796 |
| 6 Bedrooms | $3,132 |
| 7 Bedrooms | $3,383 |
| 8 Bedrooms | $3,552 |
U.S. Census Bureau data (2024)
The ZIP code 96011, located in Hawaii County, Hawaii, stands out due to its unique demographic characteristics. With only 75 residents, it has a very low population density. Among these residents, 35.9% are renters, indicating a significant portion of the local housing market is dedicated to rental properties. The median income in this area is $25,208, which is notably lower than the national average. However, the median home value is not available, suggesting that either there is a lack of data or the area might predominantly consist of rental properties.
Moving onto the voucher economics, the Fair Market Rent (FMR) for ZIP 96011 in fiscal year 2024 is set at $1310. This figure represents the maximum amount of rent assistance that a landlord can receive through the Section 8 program for a unit in this ZIP code. Notably, the market rent data is also not available, making it difficult to compare the FMR to actual market rates. Despite this, the low median income suggests that many residents would likely qualify for the Section 8 program, increasing the potential demand for subsidized rentals.
In conclusion, the data signature for ZIP 96011 reads as "transitional." The combination of a low population count and a significant percentage of renters indicates an area that may be undergoing changes in its housing market dynamics. The availability of Section 8 vouchers could play a crucial role in stabilizing rental prices and providing affordable housing options for low-income residents. Landlords and small-portfolio investors should consider the potential benefits of participating in the Section 8 program to ensure steady tenancy in this ZIP code.
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.