Location: Mono County, CA | Metro: Mono County, CA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,420 |
| 1 Bedroom | $1,610 |
| 2 Bedrooms | $2,040 |
| 3 Bedrooms | $2,610 |
| 4 Bedrooms | $3,380 |
| 5 Bedrooms | $3,921 |
| 6 Bedrooms | $4,392 |
| 7 Bedrooms | $4,743 |
| 8 Bedrooms | $4,980 |
U.S. Census Bureau data (2024)
The ZIP code 96133 presents several challenges for landlords considering Section 8 investments. Tenant turnover is a significant concern, especially when comparing the market rent to the Fair Market Rent (FMR) of $1,610 set for FY 2026 in the metro area. Landlords might experience higher turnover rates if they aim for market rents above the FMR, which can lead to increased costs associated with finding new tenants and maintaining properties.
Vacancy exposure is another issue. The average days on market (DOM) for rental properties in this area is not available, but it's crucial to note that extended periods of vacancy can result in lost rental income and additional expenses for property upkeep. This uncertainty makes it difficult to predict how long a property might remain vacant between tenancies.
Deferred maintenance is also a risk factor. Without specific data on typical home values and median incomes, it's challenging to assess the financial health of homeowners and their ability to maintain their properties adequately. This lack of information could indicate a higher likelihood of properties requiring significant repairs or upgrades before becoming suitable for Section 8 tenants.
However, these risks are somewhat mitigated by the fact that 96133 has a 100.0% renter share. High renter density typically translates into a robust demand for rental housing, including those covered by Section 8 vouchers. This ensures a steady pool of potential tenants, reducing the overall risk of vacancy and increasing the likelihood of filling vacancies quickly.
Verdict: Moderate risk for a first-time Section 8 landlord.
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.