Location: Visalia, CA | Metro: Visalia, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,200 |
| 1 Bedroom | $1,210 |
| 2 Bedrooms | $1,580 |
| 3 Bedrooms | $2,170 |
| 4 Bedrooms | $2,540 |
| 5 Bedrooms | $2,946 |
| 6 Bedrooms | $3,300 |
| 7 Bedrooms | $3,564 |
| 8 Bedrooms | $3,742 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 93244 within the Visalia, CA MSA reveals several key points that are crucial for landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for ZIP 93244 in fiscal year 2024 is set at $1360. However, the lack of available market rent data means that we cannot directly compare these figures to determine if the FMR aligns with what tenants are willing to pay. This gap in market rent data presents a challenge in assessing the viability of rental income based on FMR alone.
Regarding the affordability of acquisitions, the median home value in ZIP 93244 stands at $412,787. Without specific data on the number of days on market (DOM) and the percentage of homes that require price cuts, it's difficult to gauge the ease or difficulty of acquiring properties at fair prices. These missing metrics would typically help in understanding how competitive the market is and whether it favors buyers or sellers.
The third question concerns tenant demand. With a population of 117 in ZIP 93244, the extremely low 0.0% renter share indicates that virtually no residents are renters. This suggests a very limited demand for rental properties, which could be problematic for landlords seeking steady occupancy.
Verdict: The rent math in ZIP 93244 cannot be fully assessed due to the absence of market rent data. Acquisition appears costly given the high median home value, but without DOM and price cut percentages, it's unclear how affordable purchases can be. Most critically, the lack of tenant demand—only 0.0% of the population are renters—poses a significant risk for investment in rental properties. Landlords should proceed with caution and seek additional market insights before considering investments in this area.
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.