Location: Lassen County, CA | Metro: Lassen County, CA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $890 |
| 1 Bedroom | $1,050 |
| 2 Bedrooms | $1,250 |
| 3 Bedrooms | $1,730 |
| 4 Bedrooms | $2,090 |
| 5 Bedrooms | $2,424 |
| 6 Bedrooms | $2,715 |
| 7 Bedrooms | $2,932 |
| 8 Bedrooms | $3,079 |
U.S. Census Bureau data (2024)
The ZIP code 96117 presents several challenges for landlords considering Section 8 investments. Tenant turnover can be a significant issue when comparing the market rent, which is currently unavailable, to the Fair Market Rent (FMR) of $1,280 for fiscal year 2026 in the metro area. This discrepancy might lead to higher churn rates if the market rent exceeds the FMR, forcing tenants to seek other options outside of their vouchers.
Vacancy exposure is another concern, especially given the lack of data on the number of days on market (DOM). Without this information, it's difficult to predict how quickly units will fill, potentially leaving landlords with unoccupied properties and no rental income for extended periods.
The deferred-maintenance exposure is substantial in ZIP 96117. With a typical home value of $291,590 and a median income of $104,583, landlords must be prepared to handle maintenance costs that may exceed the average tenant's ability to contribute financially. This financial strain can impact the overall profitability of the investment.
However, these risks are offset by the high renter share in the area, which stands at 44.9%. High renter density generally translates into higher demand for housing, including those who rely on voucher programs. This robust demand can help mitigate the risks associated with tenant turnover and vacancy exposure.
In conclusion, the investment risk for a first-time Section 8 landlord in ZIP 96117 is moderate. The potential for high tenant turnover and vacancy exposure exists, but the strong demand for rentals provides a solid foundation for managing these risks effectively.
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.