Location: Oxnard-Thousand Oaks-Ventura, CA | Metro: Oxnard-Thousand Oaks-Ventura, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,860 |
| 1 Bedroom | $2,070 |
| 2 Bedrooms | $2,450 |
| 3 Bedrooms | $3,300 |
| 4 Bedrooms | $3,840 |
| 5 Bedrooms | $4,454 |
| 6 Bedrooms | $4,988 |
| 7 Bedrooms | $5,387 |
| 8 Bedrooms | $5,656 |
U.S. Census Bureau data (2024)
Ventura, CA's ZIP code 93001 is a vibrant urban neighborhood situated in the heart of Ventura County. With a population of 32,026, it has a significant rental market, with 55.2% of residents being renters. The area boasts a robust median income of $88,078, reflecting the economic health and diversity of its inhabitants. The median home value stands at $975,826, indicating a relatively affluent community where homeownership is a mark of substantial financial stability.
The rent economics in ZIP 93001 present an interesting opportunity for investors. The Fair Market Rent (FMR) for the area, set at $2,410 for the fiscal year 2024, is notably lower than the actual market rent, which is estimated at $3,026 according to ZORI (Zillow Observed Rental Index). This gap suggests that properties in this ZIP code could potentially attract both government-subsidized tenants through the Section 8 program and market-rate renters willing to pay higher rents.
Given these factors, ZIP 93001 is well-suited for hands-off voucher operators who can leverage the FMR to secure steady, government-backed rental income. The high median income and home values indicate a strong local economy, which supports the likelihood of consistent voucher payments. However, the discrepancy between FMR and market rent also presents opportunities for hands-on value-add buyers who can improve property conditions and command higher rents, thereby maximizing returns above the subsidized rates.
In conclusion, Ventura, CA's ZIP 93001 offers a balanced investment landscape. Its robust rental market and affluent demographic make it a prime location for both hands-off and hands-on real estate strategies, particularly for those interested in Section 8 investments. The potential for dual occupancy—both voucher and market-rate tenants—creates a scenario where investors can choose their level of involvement based on their investment goals and risk tolerance.
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.