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 | $1,770 |
| 1 Bedroom | $1,970 |
| 2 Bedrooms | $2,330 |
| 3 Bedrooms | $3,140 |
| 4 Bedrooms | $3,650 |
| 5 Bedrooms | $4,234 |
| 6 Bedrooms | $4,742 |
| 7 Bedrooms | $5,121 |
| 8 Bedrooms | $5,377 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,970 | $433,126 | 0.45% | F |
| 2BR | $2,330 | $485,727 | 0.48% | F |
| 3BR | $3,140 | $697,806 | 0.45% | F |
| 4BR | $3,650 | $767,226 | 0.48% | F |
U.S. Census Bureau data (2024)
The dynamics of the real estate market in ZIP 93041, Port Hueneme, CA, suggest a scenario where demand is currently holding steady against supply. The Fair Market Rent (FMR) for the area stands at $2,290 for the fiscal year 2024, while the market rent, as indicated by ZORI, is slightly higher at $2,875. This difference points to a market where rents are above the government-set fair market levels, indicating strong tenant interest.
A key indicator of market health is the price-cut share, which is very low at just 0.3%. This figure suggests that landlords are not having to lower their asking prices significantly to attract tenants, a sign that demand is robust enough to support current rental rates. The median home value of $627,955 also reflects a stable market, where homes are valued consistently with the local economy and rental trends.
The high renter share of 54.6% provides insight into the long-term housing pressures faced by Port Hueneme. With more than half of the population renting rather than owning, there is a continuous need for rental properties. This trend can be attributed to various factors, including affordability issues and the transient nature of the military presence in the area, which often leads to a preference for renting over buying.
In a market where such a significant portion of residents are renters, it's likely that demand for rental properties will remain consistent. Landlords and small-portfolio investors should focus on maintaining competitive rental rates and property conditions to ensure steady occupancy. The current market conditions, with rents above the FMR and minimal need for price adjustments, indicate that demand is currently matching or slightly exceeding supply, creating a balanced but dynamic environment.
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.