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 | $1,960 |
| 1 Bedroom | $2,190 |
| 2 Bedrooms | $2,590 |
| 3 Bedrooms | $3,490 |
| 4 Bedrooms | $4,060 |
| 5 Bedrooms | $4,710 |
| 6 Bedrooms | $5,275 |
| 7 Bedrooms | $5,697 |
| 8 Bedrooms | $5,982 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,190 | $539,589 | 0.41% | F |
| 2BR | $2,590 | $838,359 | 0.31% | F |
| 3BR | $3,490 | $949,612 | 0.37% | F |
| 4BR | $4,060 | $928,366 | 0.44% | F |
| 5BR | $4,710 | $1,310,005 | 0.36% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 93035 in Oxnard, California, for fiscal year 2024 is set at $2590. This figure represents the maximum amount that a landlord can receive from the Section 8 Housing Choice Voucher program for renting a unit in this area. It's important to note that this is not the rent you'll charge your tenants; it's the reimbursement limit for vouchers.
In comparison, the local Zillow Observed Rent Index (ZORI) stands at $3,047. This suggests that market rents in Oxnard are higher than the FMR, which means you could potentially earn more from market-rate rentals. However, participating in the Section 8 program offers a stable income stream, as the government will cover the tenant's portion of the rent up to the FMR.
The demand for rental properties in Oxnard is strong, with 34.8% of residents being renters. This high percentage indicates a significant need for affordable housing options, making it a good market for Section 8 rentals.
If you're considering purchasing a property for a Section 8 rental, the median home value in Oxnard is approximately $906,960. This reflects the average price you might expect to pay for a home in this area, which should be factored into your investment strategy.
Before committing to a Section 8 rental, you must verify that your property meets the required standards for housing quality. The Housing Quality Standards (HQS) ensure that units are safe and livable, and failing to meet these criteria can result in penalties or removal from the program. Make sure to inspect the property thoroughly and address any issues before applying for the program.
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.