What HUD offices serve Penn Valley, California?
Public Housing Agencies operate federally assisted affordable housing programs at local levels on behalf of HUD. Notably, housing agencies are responsible for managing Section 8 Housing Choice Voucher, Public Housing, and Project-Based Voucher waiting lists within their jurisdiction.
Go to the California Public Housing and Low-Income Apartments Waiting Lists page for openings near Penn Valley.
How many renters live in Penn Valley, California?
The City of Penn Valley has 1,188 people living in 478 households.
There are 268 renters living in 111 renter households in this City. Renters make up 22.56 percent of the population living in Penn Valley.
What is the rental market like in Penn Valley, California?
There are an estimated 599 housing units in the Penn Valley area. Of these, 111 units are rental homes, making up 19 percent of the housing market. For every renter household in Penn Valley, California, there are 1 rental units.
What is the vacancy rate for rentals in Penn Valley?
The rental vacancy rate in Penn Valley is 0 percent. This is a lower than average vacancy rate. When rental vacancy rates are low there are fewer available units. Rents tend to be higher as more people compete for scarce housing.
How many rental units are in Penn Valley for each bedroom size?
Occupied Rental Units by Size in Penn Valley
| Studio | One-Bedroom | Two-Bedroom | Three-Bedroom | Four+ Bedrooms |
|---|---|---|---|---|
| 0 | 0 | 53 | 58 | 0 |
Occupied Rental Units by Size in Penn Valley
A large number of apartments in Penn Valley have two or fewer bedrooms. Seniors and young professionals especially may have more success finding an apartment that meets their needs.
How many renter households in Penn Valley are overburdened by housing costs?
Among renter households in this market, 65 percent have housing cost burden. Further, 43 percent of households are extremely rent overburdened. When renters pay too much for their housing, it leaves little money for other necessities like food, clothes, or medicine.
The federal government says that renters are cost-burdened if they pay more than a third of their monthly income for rent and utilities.
How Much Is Rent in Penn Valley
Depending on size, the Fair Market Rent - HUDs measurement of the cost of an average housing unit - ranges from $1,209 to $2,708. FMRs are updated annually by HUD for every city and county nationwide.
| Bed Size | 2024 Fair Market Rents |
| Studio | $1,209 |
| One BR | $1,217 |
| Two BR | $1,596 |
| Three BR | $2,249 |
| Four BR | $2,708 |
2024 Fair Market Rents in Penn Valley, California
How many units are rented at Fair Market Rent (FMR) in Penn Valley?
Renters with a Section 8 Housing Choice Voucher must select a home that is at or below the area’s Fair Market Rent. Markets with a large share of units above FMR tend to have longer search times to find a qualified unit, while those with a large share of units below FMR tend to have more choices and shorter search times. The share below FMR can vary by size of unit, as shown in the table below.
These are the approximate number of units renting below the FMR in this market:
| Unit Size | Count of Units Below FMR | Percentage of Total Units Below FMR |
| Two BR | 24 | 45 percent |
Rental Units Below FMR in Penn Valley, California
How many affordable rental units are in Penn Valley?
There are a variety of federal affordable housing programs serving households in Penn Valley, California including the following:
| Federal Program | Unit Count |
| Low Income Housing Tax Credit | 40 |
Tracked Units by Federal Program in Penn Valley, California
Rental units may be funded in part by multiple federal programs.
Income Based Apartments in Penn Valley, California
Penn Valley features 0 income based apartments. Tenants of income based apartments typically pay no more than 30% of their income towards rent and utilities.
Low Rent Apartments in Penn Valley, California
There are 73 rent subsidized apartments that do not provide direct rental assistance but remain affordable to low income households in Penn Valley.
Housing Choice Vouchers in Penn Valley, California
On average, Section 8 Housing Choice vouchers pay Penn Valley landlords $600 per month towards rent. The average voucher holder contributes $400 towards rent in Penn Valley.
The maximum amount a voucher would pay on behalf of a low-income tenant in Penn Valley, California for a two-bedroom apartment is between $1,436 and $1,756.
Sourced from federal housing data and AffordableHousingOnline.com research.
