Location: Oxnard-Thousand Oaks-Ventura, CA | Metro: Oxnard-Thousand Oaks-Ventura, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,830 |
| 1 Bedroom | $2,040 |
| 2 Bedrooms | $2,430 |
| 3 Bedrooms | $3,290 |
| 4 Bedrooms | $3,820 |
| 5 Bedrooms | $4,431 |
| 6 Bedrooms | $4,963 |
| 7 Bedrooms | $5,360 |
| 8 Bedrooms | $5,628 |
ZIP code 93064 is situated within the Oxnard-Thousand Oaks-Ventura, CA MSA. The Fair Market Rent (FMR) for ZIP 93064 as of fiscal year 2024 is set at $2520. This figure provides a benchmark for rental pricing that is reflective of government standards for affordability and quality housing.
Comparatively, the typical FMR across the entire Oxnard-Thousand Oaks-Ventura, CA MSA is higher, indicating that ZIP 93064 might be considered a value pocket within the larger metro area. Value pockets are areas where the cost of living, especially rental costs, are lower than the average for the surrounding region, making them attractive to renters looking for affordable options.
The lack of data on market rent and home values for ZIP 93064 suggests that it may not have extensive real estate activity compared to other ZIP codes within the same MSA. However, this also implies that the area could be less competitive, allowing landlords and small-portfolio investors to offer units at the FMR without significant pressure from market rates.
Additionally, the absence of information regarding the percentage of renters indicates that there's no immediate signal that this ZIP code has a disproportionately high number of renters compared to homeowners. In other ZIPs where a high renter share coincides with below-average home values, it often points to a concentration of Section 8 eligible households. Such a scenario would typically be favorable for landlords seeking to attract Section 8 tenants due to the relative stability and predictability of rental income.
In summary, ZIP 93064 stands out as a potentially valuable opportunity for landlords and small-portfolio investors within the Oxnard-Thousand Oaks-Ventura, CA MSA. Its FMR of $2520 positions it as a more affordable option, likely attracting tenants who may be seeking subsidized housing. The limited data on market rents and home values suggest a quieter real estate market, which can be advantageous for those looking to navigate without the intense competition seen in more active markets.
Data Sources: FMR data from HUD (2027).
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.