Location: Hanford-Corcoran, CA | Metro: Fresno, CA HUD Metro FMR Area
| 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 |
U.S. Census Bureau data (2024)
With a Fair Market Rent (FMR) set at $1290 for zip code 93242 (Laton, CA) in fiscal year 2024, landlords can expect to align their rental prices with HUD guidelines to remain competitive. The Census American Community Survey (ACS) reports a market rent of $1,284, indicating that properties priced around the FMR will likely attract tenants. In Laton, the median home value stands at $390,413, reflecting a stable housing market where investments could yield steady returns. With 35.1% of residents being renters, there's a significant demand for rental properties, suggesting a viable opportunity for landlords. However, the median income of $73,142 highlights the financial constraints many potential tenants face, making it crucial for landlords to ensure their rental rates are affordable yet profitable. Due to the lack of data on days on market (DOM) and the percentage of price-cut shares, it's challenging to assess how quickly properties are rented and if there's a need for frequent price adjustments. Despite these uncertainties, the alignment between the FMR and market rent, coupled with the substantial renter share, supports a positive outlook for rental investments in Laton. The verdict on Section 8 participation in 93242 is affirmative, given the favorable rent-to-income ratio and the potential for stable tenant occupancy.
Data Sources: FMR data from HUD (2027). 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.