Section 8 Fair Market Rent (FMR) for ZIP 96824 - 2027

FY 2027 Fair Market Rent Rates

2390 The Fair Market Rent (FMR) for ZIP code 96824 in fiscal year 2024 is set at $2390. This figure represents the maximum amount landlords can charge tenants participating in the Section 8 program. While the market rent for this area is currently unknown, the FMR provides a benchmark for rental pricing. Landlords should note that the median home value is also not available, making it challenging to assess property appreciation trends without further research. However, the percentage of renters in the area is unspecified, indicating that there might be a significant portion of the population relying on rental properties. This could be an opportunity for landlords who are willing to work within the constraints of the Section 8 program.

2390 Additionally, the median income for the area is not provided, which is crucial for understanding the economic background of potential tenants. Despite these gaps in data, the average days on market (DOM) is not available, suggesting that properties in this area either sell quickly or that there isn't enough recent sales data to determine this metric accurately. Similarly, the percentage of homes where the seller had to cut the price before selling is not known, leaving questions about the competitiveness of the local real estate market unanswered.

2390 Given the available data, landlords and small-portfolio investors looking to enter ZIP code 96824 should consider the $2390 FMR as a starting point for their rental pricing strategies under the Section 8 program. The lack of detailed market-specific data suggests a need for thorough local market analysis to make informed investment decisions. For those committed to serving the housing needs of low-income families, ZIP code 96824 presents an opportunity to provide affordable housing while adhering to HUD guidelines.

2390 In conclusion, for landlords interested in Section 8 participation in ZIP code 96824, the $2390 FMR offers a clear guideline for rental pricing. The area's potential for a high demand for rental properties, coupled with the limitations of current data, calls for careful consideration and due diligence. Verdict: ZIP code 96824 is suitable for Section 8 landlords who are prepared to navigate data gaps and rely on HUD's FMR as their primary pricing reference.

Data Sources: FMR data from HUD (2027).

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.