Location: Oxnard-Thousand Oaks-Ventura, CA | Metro: Oxnard-Thousand Oaks-Ventura, CA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,990 |
| 1 Bedroom | $2,220 |
| 2 Bedrooms | $2,630 |
| 3 Bedrooms | $3,540 |
| 4 Bedrooms | $4,120 |
| 5 Bedrooms | $4,779 |
| 6 Bedrooms | $5,352 |
| 7 Bedrooms | $5,780 |
| 8 Bedrooms | $6,069 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,630 | $664,914 | 0.4% | F |
| 3BR | $3,540 | $832,805 | 0.43% | F |
| 4BR | $4,120 | $909,584 | 0.45% | F |
| 5BR | $4,779 | $990,762 | 0.48% | F |
U.S. Census Bureau data (2024)
Ventura, CA's ZIP code 93004 stands out among other areas due to its unique demographic and economic profile. With a population of 30,698 residents, 33.7% of whom rent their homes, it reflects a balanced mix between homeowners and renters. The median household income in this ZIP is $114,012, which is significantly higher than the national average. This indicates a relatively affluent community where residents can afford comfortable living conditions. Additionally, the median home value is $874,586, suggesting that homeownership is a substantial investment for those who choose to buy in the area.
The voucher economics in ZIP 93004 are favorable for landlords and small-portfolio investors. The Fair Market Rent (FMR) for the area, set at $2,440 for fiscal year 2024, is lower than the market rate, measured by the Zillow Observed Rent Index (ZORI), which stands at $2,668. This means that landlords can potentially charge above the FMR to tenants without vouchers while still offering a competitive price to those with vouchers. The gap between the FMR and ZORI provides an opportunity for landlords to maximize their rental income while ensuring affordability for voucher recipients.
Based on the available data, the ZIP code 93004 appears to be stable rather than transitional. The high median income and median home values suggest a mature market with established residents. The relatively low percentage of renters compared to homeowners also points towards a community that has reached a level of financial maturity where many residents have been able to invest in property. For investors looking to enter the Ventura County real estate market, ZIP 93004 offers a solid foundation for long-term investments, particularly in rental properties that cater to both voucher holders and non-voucher tenants.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.