Section 8 Fair Market Rent (FMR) for ZIP 93290 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 in ZIP code 93290, located in Tulare County, California, are straightforward. The SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment in this specific ZIP code is set at $1300 per month for fiscal year 2024. This figure is crucial because it directly influences the maximum amount that the Housing Choice Voucher program will reimburse landlords.

A voucher payment covers the difference between what a tenant can afford and the actual rent. For a two-bedroom unit, the tenant is typically expected to pay 30% of their adjusted income towards rent. If the tenant's monthly adjusted income is $1000, they would contribute $300 towards the rent. The voucher program then covers the remaining $1000 to meet the total SAFMR of $1300.

In addition to the base rent, there are utility allowances. These vary based on the type of utilities used but generally add a few hundred dollars to the total reimbursement. For instance, if the utility allowance is $200, the landlord receives an additional $200 per month, bringing the total reimbursement up to $1200.

This system ensures that landlords receive a stable and predictable income, even if the local market rent is unknown or fluctuates. It's important to note that the reimbursement is capped at the SAFMR level, so if your rental property's market rate exceeds $1300, you will not be compensated for the difference.

To illustrate, let's assume a two-bedroom apartment in ZIP 93290 has a market rent of $1500. The voucher program would only cover up to $1300, leaving a $200 shortfall per month. Conversely, if the market rent is below $1300, say $1200, then the landlord would have a $100 surplus each month beyond the tenant contribution.

Summary:

• The SAFMR for a two-bedroom apartment in ZIP 93290 is $1300 per month.
• Tenant contributes 30% of their adjusted income; voucher covers the rest up to SAFMR.
• Utility allowances add to the total reimbursement, usually around $200.
• The reimbursement gap or surplus depends on the market rent compared to SAFMR.

In ZIP 93290, given the SAFMR of $1300, landlords should expect a reimbursement gap if the market rent is above $1300, or a surplus if the market rent is below $1300.

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.