Location: Siskiyou County, CA | Metro: Siskiyou County, CA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $870 |
| 1 Bedroom | $880 |
| 2 Bedrooms | $1,130 |
| 3 Bedrooms | $1,570 |
| 4 Bedrooms | $1,730 |
| 5 Bedrooms | $2,007 |
| 6 Bedrooms | $2,248 |
| 7 Bedrooms | $2,428 |
| 8 Bedrooms | $2,549 |
U.S. Census Bureau data (2024)
The median income in ZIP code 96034 stands at $73,750, which is a solid financial foundation for many households. However, when it comes to affording the market rate rent of $873 per month, the situation becomes more nuanced. For context, the Fair Market Rent (FMR) as determined by HUD for the fiscal year 2026 is set at $1,090 for the area.
To understand the affordability gap, consider that the median income suggests an average monthly income of around $6,145.83 ($73,750 divided by 12 months). A household spending $873 on rent would be dedicating approximately 14.2% of their gross income to housing costs. This percentage is below the generally accepted guideline of not exceeding 30% of gross income for housing, indicating that the market rate rent is affordable for most households based on the median income.
However, the voucher payment standard of $1,090 presents a different scenario. At this rate, the household would need to spend about 17.7% of their gross income on rent if they were to cover the difference between the market rate and the voucher amount. This means that while the market rate is manageable, the higher FMR poses a challenge for renters relying solely on their median income without additional financial support.
Given that only 16.9% of the 332 residents are renters, the competition among landlords is likely to be fierce. Landlords must carefully consider their pricing strategies to attract tenants. Offering units at the market rate of $873 can make properties more accessible to a broader range of potential renters. Conversely, accepting vouchers at the $1,090 rate can provide a more stable income stream but may limit the pool of available tenants who qualify for such assistance.
The takeaway for landlords: Balancing between market-rate rents and voucher rates is crucial. While market-rate units at $873 might appeal to a larger number of potential tenants, accepting vouchers at the $1,090 rate can ensure a steady and reliable income source. Landlords should assess their property values, maintenance costs, and local demand before deciding on their strategy. Understanding the financial capabilities of the local renter demographic will help in making informed decisions about whether to prioritize voucher tenants or aim for cash-paying ones.
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.