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 | $1,200 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,580 |
| 3 Bedrooms | $2,190 |
| 4 Bedrooms | $2,640 |
| 5 Bedrooms | $3,062 |
| 6 Bedrooms | $3,429 |
| 7 Bedrooms | $3,703 |
| 8 Bedrooms | $3,888 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,190 | $436,079 | 0.5% | F |
U.S. Census Bureau data (2024)
The ZIP code 96069 is primarily a homeowner-dominated area, with only 13.6% of the population being renters. This indicates that the demand for rental properties, including those utilizing Section 8 vouchers, is relatively low compared to areas with a higher percentage of renters. The median household income in this area stands at $71,250, which suggests that potential tenants have a decent financial standing.
While specific market rent figures are not available, we can compare the median income to the Fair Market Rent (FMR) for the area, which is set at $1690 per month for FY 2024. Assuming a standard rent-to-income ratio of around 30%, a typical rent in this area would consume approximately 24% of the median income. This calculation is based on the FMR, which is often higher than actual market rents, but it gives a reasonable estimate for the analysis.
A landlord in ZIP 96069 can expect tenants who are likely to be financially stable due to the higher median income. However, because the percentage of renters is low, finding tenants who qualify for Section 8 vouchers might be challenging. Landlords will need to consider whether the benefits of having a guaranteed rent payment through the voucher program outweigh the potential difficulties in attracting and retaining tenants.
To summarize, ZIP 96069 is not a renter-heavy area with deep voucher demand. It is a place where homeownership is prevalent, and the rental market is less robust. Despite this, the financial stability of potential tenants due to the higher median income makes it a viable option for landlords willing to participate in the Section 8 program. The typical rent in this area is expected to be around 24% of the median income, which is slightly above the recommended 30% threshold but still manageable given the overall economic conditions.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.