Section 8 Fair Market Rent (FMR) for ZIP 96114 - 2027

Location: Plumas County, CA | Metro: Lassen County, CA

Investment Score for ZIP 96114

Monthly Rent (2BR)

$1,450

Median Price (2BR)

$236,057

1% Rule

0.61%

Annual Yield

7.37%

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	$1,030
1 Bedroom	$1,220
2 Bedrooms	$1,450
3 Bedrooms	$2,010
4 Bedrooms	$2,420
5 Bedrooms	$2,807
6 Bedrooms	$3,144
7 Bedrooms	$3,396
8 Bedrooms	$3,566

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
2BR	$1,450	$236,057	0.61%	D
3BR	$2,010	$329,565	0.61%	D
4BR	$2,420	$396,086	0.61%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

2,959

Median Household Income

$79,688

Housing Units

1,394

Renter Percentage

20.8%

Occupancy Rate

82.6%

Renter Occupied

239

The real estate landscape in Janesville, CA, specifically ZIP code 96114, presents a nuanced picture for both landlords and small-portfolio investors. The median home value stands at $312,118, which is a key indicator of the overall housing market health and potential rental yields. Despite the lack of specific data on the percentage of listings that have been reduced and the median days on market (DOM), the current median home value suggests a stable market with moderate pricing power.

The absence of recent reductions in listing prices and the unavailability of DOM data imply that the market is neither overheated nor experiencing significant downturns. This stability allows landlords to maintain competitive rental rates without facing undue pressure from falling property values. For long-term investors, the current conditions indicate a low-risk environment where capital preservation is likely, but rapid appreciation might be limited unless broader economic factors shift favorably.

Turning to the rental side, the Federal Market Rent (FMR) for fiscal year 2026 is projected at $1,490, while the current market rate, based on Census American Community Survey (ACS) data, is $1,336. This gap signals an opportunity for landlords to gradually increase rents towards the FMR level as the market adjusts to the new benchmark. The upward trend in FMR reflects anticipated growth in the local economy and demand for housing, which could support higher rental income in the coming years.

Appreciation Thesis:

The current median home value, coupled with the lack of significant price reductions, suggests a solid foundation for property values. However, the realistic appreciation thesis leans towards modest gains rather than exponential growth.
The gap between the FMR and the current market rental rate offers a clear path for increasing rental income, aligning with the projected market trends.
Investors should focus on maintaining quality properties to attract tenants willing to pay closer to the FMR, thereby maximizing returns on investment.

In summary, the setup in ZIP 96114 indicates a market ripe for steady, reliable investments. Landlords and small-portfolio investors can expect to hold their assets with confidence, leveraging the projected rise in rental rates to enhance profitability over time. While the data does not point to a high-growth scenario, it supports a conservative approach to real estate investment, emphasizing the importance of location and property condition in driving long-term success.

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.