Location: Inyo County, CA | Metro: Inyo County, CA
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 | $1,040 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,490 |
| 3 Bedrooms | $2,030 |
| 4 Bedrooms | $2,490 |
| 5 Bedrooms | $2,888 |
| 6 Bedrooms | $3,235 |
| 7 Bedrooms | $3,494 |
| 8 Bedrooms | $3,669 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,490 | $383,272 | 0.39% | F |
| 3BR | $2,030 | $450,348 | 0.45% | F |
U.S. Census Bureau data (2024)
The Section 8 housing program in ZIP code 93513 presents a compelling opportunity for landlords and small-portfolio investors due to the significant gap between the Fair Market Rent (FMR) and the actual market rent. The FMR for the metro area in fiscal year 2026 is set at $1,520, while the Census ACS reports the current market rent at $1,202. This means that the FMR is $318 higher than the market rent, representing a 26.5% premium.
This premium makes voucher tenants a lucrative yield play for property owners. Landlords can receive a guaranteed payment that exceeds the local market rate, ensuring a steady and above-average cash flow. In a region where 25.5% of residents are renters, and the median income stands at $67,292, the demand for affordable housing is strong. However, with a median home value of $426,946, many potential tenants may struggle to find suitable accommodation without assistance.
The higher FMR also provides a buffer against the typical risks associated with rental properties, such as vacancy rates and maintenance costs. Moreover, the consistent payments from the housing authority reduce the financial burden of managing rental properties. For small-portfolio investors, this can be particularly advantageous, as it allows them to focus on other aspects of their investment strategy without worrying about fluctuating rents or tenant defaults.
In conclusion, the gap between the FMR and market rent in ZIP 93513 makes it an attractive area for those involved in the Section 8 program. The 26.5% premium on FMR over market rent translates into a $318 monthly increase per unit, providing a solid return on investment and a stable source of income. This aligns well with the economic realities of the area, where a significant portion of the population relies on rental housing, and the cost of living is relatively high.
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.