Location: Lassen County, CA | Metro: Lassen County, CA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $960 |
| 1 Bedroom | $1,130 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 96128 reveals a unique blend of yield and stability that positions it as a moderate-risk, moderate-reward market for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the metro area in fiscal year 2026 stands at $1,380, which is the primary indicator of rental yield potential. However, the lack of specific market rent data means we must rely heavily on FMR estimates, suggesting a slightly less direct measure of actual market conditions.
The median home value in ZIP 96128 is listed at $300,205. This figure is crucial when calculating potential returns on investment, especially when considering the purchase price relative to the rental income. With an average rent of $1,380, landlords can expect a healthy cash flow, assuming they can secure tenants at or near this rate.
Stability in this market is somewhat lower due to the limited percentage of renters at 6.6%. This indicates a smaller pool of potential tenants, which could lead to higher vacancy rates if the local economy faces downturns or changes. Additionally, the absence of data on days-on-market (DOM) further obscures the picture of how quickly properties might be rented out.
The median household income in ZIP 96128 is $91,012. While this income level is above the national average, it does not necessarily translate into greater financial stability for rental properties. The income figure suggests that residents have the capability to afford the median rent, but without knowing the exact market rent, this remains speculative.
Based on these figures, ZIP 96128 is best classified as a moderate-stability, moderate-yield market. It offers decent rental yields with a median rent close to the FMR, but the relatively low percentage of renters and missing market-specific data points to a less stable environment compared to areas with a higher tenant base and more robust economic indicators. For investors looking to balance risk and reward, this ZIP code presents an opportunity that requires careful consideration of local market dynamics and property management strategies to mitigate potential risks associated with lower stability metrics.
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.