Location: Modoc County, CA | Metro: Modoc County, CA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $750 |
| 1 Bedroom | $850 |
| 2 Bedrooms | $1,080 |
| 3 Bedrooms | $1,500 |
| 4 Bedrooms | $1,780 |
| 5 Bedrooms | $2,065 |
| 6 Bedrooms | $2,313 |
| 7 Bedrooms | $2,498 |
| 8 Bedrooms | $2,623 |
U.S. Census Bureau data (2024)
The market dynamics in ZIP code 96115, characterized by a Fair Market Rent (FMR) of $1,110 for fiscal year 2026, suggest an environment where housing pressures are uniquely defined. The absence of data on market rent, price-cut share, days on market (DOM), and median home value indicates a niche market that may be less competitive or less documented compared to larger metropolitan areas.
A key indicator is the 0.0% renter share, which implies that virtually all residents own their homes rather than renting. This statistic points to a market where homeownership is the dominant trend, possibly due to factors such as affordability, local economic stability, or demographic preferences. However, it also suggests that there might be limited rental options available, which could create long-term housing pressure if the population grows or shifts towards renting.
The lack of competition in the rental sector, as indicated by the missing data on price cuts and DOM, might imply that landlords have little incentive to lower rents or hurry listings. This could indicate a stable or slightly oversupplied market in terms of rental units, but given the high homeownership rate, the overall housing market may still be experiencing upward pressure.
In summary, ZIP 96115 presents a market in motion, driven by homeownership trends and potentially constrained rental supply. Landlords and small-portfolio investors should carefully consider these dynamics before entering the market, focusing on the unique needs of potential renters in a predominantly owner-occupied area.
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.