Location: Fresno, CA | Metro: Fresno, CA HUD Metro FMR Area
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 | $1,220 |
| 1 Bedroom | $1,220 |
| 2 Bedrooms | $1,500 |
| 3 Bedrooms | $2,090 |
| 4 Bedrooms | $2,400 |
| 5 Bedrooms | $2,784 |
| 6 Bedrooms | $3,118 |
| 7 Bedrooms | $3,367 |
| 8 Bedrooms | $3,535 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,090 | $228,791 | 0.91% | C |
| 4BR | $2,400 | $278,925 | 0.86% | C |
U.S. Census Bureau data (2024)
The potential risks for a Section 8 investment in ZIP code 93234 are significant and must be carefully considered. Tenant turnover is a critical issue, with the market rent at $1,054 compared to the Fair Market Rent (FMR) of $1200 for fiscal year 2024. This discrepancy suggests that tenants might prefer higher-rent properties, leading to frequent turnovers. Additionally, the vacancy exposure is substantial due to the lack of data on days on market (DOM), indicating uncertainty about how quickly units can be filled. Given the typical home value of $247,401 and a median income of $52,500, there is also a risk of deferred maintenance. Landlords may struggle to keep properties up to standard without additional income sources.
However, these risks are offset by a high renter share of 75.4%. This indicates a robust demand for rental housing, which often translates into a higher demand for Section 8 vouchers. The concentration of renters in the area can provide a steady stream of potential tenants who qualify for the program, thereby reducing the overall risk of vacancy.
In conclusion, the risks associated with Section 8 investments in ZIP 93234 are moderate. While there are concerns regarding tenant turnover and property upkeep, the high renter share provides a buffer against prolonged vacancies.
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.