Section 8 Fair Market Rent (FMR) for ZIP 93504 - 2027

FY 2027 Fair Market Rent Rates

To profile ZIP code 93504 as a Section 8 tenant pool, it's essential to consider the percentage of renters and the median household income. Unfortunately, the exact population and income figures for this ZIP code are currently unavailable. However, we can still analyze the rental market dynamics based on the available information.

The scarcity of specific data points makes it challenging to definitively state whether this is a renter-heavy ZIP with deep voucher demand or an area dominated by homeowners. Nevertheless, the presence of Section 8 vouchers indicates a significant portion of the population relies on federal assistance for housing, suggesting a robust demand for affordable rental properties.

Without precise local income figures, we cannot calculate the exact percentage of income that goes towards rent. However, the Federal Market Rent (FMR) for ZIP 93504 is set at $1260 for fiscal year 2024. This figure represents the maximum amount that a Section 8 voucher holder can pay towards rent in this area. Landlords should be aware that the typical market rent in this ZIP code might exceed this amount, which could impact the affordability for voucher holders.

In comparing the FMR to the market rent, it's crucial to understand that the FMR serves as a benchmark for affordability. If the average market rent is higher than $1260, then tenants using Section 8 vouchers will likely struggle to find suitable housing unless landlords are willing to accept lower rents or provide additional subsidies.

The kind of tenant profile a landlord should expect in ZIP 93504 includes individuals and families who rely on government assistance to secure housing. These tenants are likely to have low to moderate incomes and may face challenges in finding housing outside of the subsidized market. Landlords must be prepared to work with the Section 8 program, including adhering to the Housing Choice Voucher Program regulations and conducting thorough background checks to ensure compliance with the terms of the voucher.

Given the reliance on Section 8 vouchers, landlords in 93504 should focus on maintaining properties that meet the program's quality standards and be ready to engage with local Public Housing Agencies (PHAs) to facilitate the tenancy process. The success of renting to Section 8 tenants often depends on the landlord's willingness to adapt to the requirements of the program and the needs of their tenants.

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.