Location: Redding, CA | Metro: Redding, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,160 |
| 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)
1460: The Fair Market Rent (FMR) for ZIP code 96033 for fiscal year 2024 has been set at $1460. This figure represents the maximum amount a landlord can charge for a Section 8 voucher holder in this area.
875: In contrast, the market rent based on Census ACS data stands at $875. This indicates that landlords participating in the Section 8 program can potentially earn a higher rent compared to the average market rate.
13.6: Renter share in ZIP 96033 is 13.6%, which is relatively low. This suggests that there might be limited demand for rental properties, including those under the Section 8 program.
44375: The median income in this ZIP code is $44,375. This figure is important for understanding the economic context in which potential Section 8 tenants operate.
N/A: Unfortunately, specific data regarding the median home value and days on market (DOM) for listings are not available. However, the absence of these figures does not necessarily indicate a negative trend; it could simply mean that the data is not widely reported or is not applicable in this region.
N/A: Similarly, the percentage of price-cut shares is also not available, which means we cannot assess how often sellers reduce their asking prices. This lack of detail makes it challenging to gauge the competitiveness of the housing market in 96033.
Despite the limitations in some data points, the disparity between the FMR and the market rent provides an opportunity for landlords. At $1460, the FMR exceeds the market rent by nearly $600, making Section 8 participation financially viable for many property owners. However, the low renter share of 13.6% may pose challenges in finding enough Section 8 tenants to fill all available units. Given the economic conditions and the specific numbers provided, landlords and small-portfolio investors should carefully consider the balance between higher guaranteed rents and the potential difficulty in securing tenants.
Verdict: ZIP 96033 offers a favorable financial landscape for Section 8 landlords, but they must manage the risk of lower tenant availability.
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.