Section 8 Fair Market Rent (FMR) for ZIP 93030 - 2027

Investment Score for ZIP 93030

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,610
1 Bedroom	$1,790
2 Bedrooms	$2,120
3 Bedrooms	$2,880
4 Bedrooms	$3,330
5 Bedrooms	$3,863
6 Bedrooms	$4,327
7 Bedrooms	$4,673
8 Bedrooms	$4,907

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$1,790	$380,551	0.47%	F
2BR	$2,120	$598,049	0.35%	F
3BR	$2,880	$735,300	0.39%	F
4BR	$3,330	$862,539	0.39%	F
5BR	$3,863	$949,023	0.41%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 93030 (Oxnard, CA) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 93030 in Oxnard, California, is set by HUD for the year 2026. For a two-bedroom unit, the FMR is $2,350 per month. However, the Zillow median price for a two-bedroom rental property in this ZIP code is significantly higher, at $590,792, which translates to a monthly rent of approximately $4,923 based on typical mortgage payments (assuming a 4.5% interest rate and a 20% down payment). This means that the actual rent is about 2.1 times the FMR for a two-bedroom unit. Given these figures, it is clear that there is a significant gap between the FMR and the actual rents. For instance, a three-bedroom unit has an FMR of $3,190, while a four-bedroom unit’s FMR is $3,700. The disparity suggests that Section 8 voucher holders face substantial constraints in finding affordable housing within their budget. Many landlords may be hesitant to accept vouchers due to the higher actual market value of properties, leading to limited options for voucher holders. #### Affordability & Renter Profile ZIP code 93030 has a population of 58,192, with 53.8% of residents being renters. This indicates a strong demand for rental housing in the area. The occupancy rate is also high at 95.7%, suggesting that the market is tight and there is little vacancy. The median household income in 93030 is $92,958. A two-bedroom unit at FMR represents 30.3% of the median income, which is relatively affordable for middle-income families but still poses challenges for lower-income households who rely on Section 8 vouchers. Given the high percentage of renters and the tight market conditions, competition for available units is likely intense, particularly among those who cannot afford the market rates. #### Investor Angle From an investor perspective, the ZIP code 93030 presents a mixed picture. The FMRs are significantly below the actual market rents, which could make it challenging to achieve positive cash flow if relying solely on FMRs. For example, a two-bedroom unit at $2,350 would need to cover all expenses, including mortgage payments, maintenance, insurance, and property taxes, which are likely much higher given the median home value. To determine the investment grade, we must consider the potential returns and risks. With the high actual rents compared to FMRs, investors might find it difficult to attract tenants with Section 8 vouchers unless they are willing to accept lower returns. The price-to-FMR ratio of 21.0x for a two-bedroom unit underscores the premium that landlords can charge over the FMR, indicating that the market is highly favorable for those who can command higher rents. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Investors should focus on one-bedroom and studio units, where the FMR is lower ($1,960 and $1,740 respectively). These units are more likely to be rented out at FMR rates, providing a better chance for positive cash flow. Additionally, smaller units often have lower maintenance costs and may be easier to manage. 2. **Consider Property Value**: When purchasing properties, investors should ensure that the purchase price aligns with the FMR rather than the market value. For instance, a two-bedroom unit should ideally be purchased for a price that allows the landlord to rent it out at $2,350 and still break even or make a modest profit. This could mean looking for distressed properties or negotiating aggressively on pricing. 3. **Explore Non-Section 8 Tenants**: Given the high actual rents, investors might want to consider renting to non-Section 8 tenants to maximize returns. This could involve marketing strategies that appeal to middle-income families who can afford the higher rents. Alternatively, investors could offer a mix of both Section 8 and market-rate rentals to balance risk and reward. #### Bottom Line For investors focusing specifically on Section 8 vouchers, ZIP code 93030 presents a challenging environment due to the significant gap between FMRs and actual market rents. The recommendation is to **Skip** this ZIP code for pure Section 8 investments unless you can find properties priced well below market value. However, if you are willing to diversify your tenant base and include some market-rate renters, you might consider a **Hold** strategy. This approach would allow you to leverage the higher rents commanded by the market while still maintaining a portion of your portfolio for Section 8 tenants. Overall, the tight market and high actual rents suggest that pure Section 8 investments may struggle to achieve positive cash flow without significant subsidies or property discounts.

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.