Location: Mono County, CA | Metro: Mono 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 | $1,400 |
| 1 Bedroom | $1,590 |
| 2 Bedrooms | $1,980 |
| 3 Bedrooms | $2,520 |
| 4 Bedrooms | $3,300 |
| 5 Bedrooms | $3,828 |
| 6 Bedrooms | $4,287 |
| 7 Bedrooms | $4,630 |
| 8 Bedrooms | $4,862 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,980 | $378,182 | 0.52% | F |
| 3BR | $2,520 | $485,837 | 0.52% | F |
U.S. Census Bureau data (2024)
The Section 8 cap rate analysis for ZIP code 93517, Bridgeport, CA, reveals some critical insights into potential investment opportunities. The Fair Market Rent (FMR) for a 2-bedroom apartment in this area, based on fiscal year 2026 data, is set at $1,620 annually. This translates to a monthly rental income of $135 per unit under the Section 8 program. Given the median home value in the area is $418,281, the implied gross yield for a Section 8 property would be approximately 0.4%, calculated by dividing the annual rental income ($1,620) by the median home value ($418,281).
In contrast, the market rent for a 2-bedroom apartment in Bridgeport, CA, according to Census ACS data, is $242 per month. This results in an annual market rent of $2,904. When this figure is used to calculate the gross yield against the median home value, it comes out to about 0.7%, indicating a higher potential return compared to the Section 8 scenario.
The 5.5% renter density in Bridgeport suggests that while there is a significant number of renters, the majority of residents still prefer homeownership. This factor influences the likelihood of finding tenants willing to participate in the Section 8 program. Moreover, the lack of Days on Market (DOM) data makes it challenging to predict how quickly a property might fill under either rental scenario. However, considering the limited availability of affordable housing and the support provided by the Section 8 program, it's reasonable to assume that finding tenants could be quicker for Section 8 properties despite the lower gross yield.
In conclusion, while the market rent offers a more attractive gross yield of 0.7%, the guaranteed income and potentially shorter vacancy periods associated with the Section 8 program at a gross yield of 0.4% present a stable alternative. Landlords and small-portfolio investors must weigh the benefits of higher returns versus the stability and security offered by the Section 8 program when making their investment decisions in ZIP 93517.
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.