Section 8 Fair Market Rent (FMR) for ZIP 96059 - 2027

Location: Tehama County, CA | Metro: Redding, CA MSA

Investment Score for ZIP 96059

N/A

Monthly Rent (2BR)

$1,440

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

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

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$1,990	$365,248	0.54%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

826

Median Household Income

$N/A

Housing Units

470

Renter Percentage

45.0%

Occupancy Rate

64.3%

Renter Occupied

136

ZIP code 96059, located in Kailua-Kona, Hawaii, is a desirable area known for its scenic coastal views and tropical climate. The real estate market here reflects the high demand for living in such a picturesque location.

The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP 96059 for fiscal year 2024 is set at $1,490, indicating the minimum rental price guideline for Section 8 participants.
The average market rent for properties in this ZIP code, according to the latest Census American Community Survey (ACS), is $1,580, suggesting that the rental market is slightly above the FMR benchmark.
The median home value in ZIP 96059 is $326,943, which is lower than the state average, making it an attractive option for both first-time buyers and investors looking for affordable entry points.
Renters make up 45.0% of the housing units in this area, showing a significant portion of the population relies on rental properties, which supports a robust rental market.
The median income figure for ZIP 96059 is not available, which means we cannot directly assess the financial capacity of residents to afford higher rents or home values without additional research.
The Days on Market (DOM) data for this ZIP code is not applicable, which could imply either a very active market with quick property turnover or a lack of recent sales data.

In summary, ZIP 96059 presents a compelling investment opportunity for landlords and small-portfolio investors due to its high demand for rentals and the proximity of market rents to the FMR guidelines. The relatively low median home value suggests that there is potential for growth in property appreciation, especially given the strong rental market. However, the absence of median income data and DOM figures indicates areas where further investigation would be prudent before making investment decisions. Overall, the market appears favorable for those who can navigate the local real estate dynamics effectively.

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.