Location: Mono County, CA | Metro: Mono County, CA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,340 |
| 1 Bedroom | $1,550 |
| 2 Bedrooms | $1,930 |
| 3 Bedrooms | $2,380 |
| 4 Bedrooms | $3,190 |
| 5 Bedrooms | $3,700 |
| 6 Bedrooms | $4,144 |
| 7 Bedrooms | $4,476 |
| 8 Bedrooms | $4,700 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 93541, located in Mono County, California, reveals several key points for potential landlords and small-portfolio investors.
The first question addresses whether the rent math works. The Fair Market Rent (FMR) for the area in fiscal year 2026 is set at $1,680. However, the market rent is listed as N/A, which means there isn't enough data to compare against the FMR. This lack of current market rent figures makes it difficult to determine if the rent math will be favorable based on local conditions.
Secondly, regarding the affordability of acquisition, the median home value stands at $504,956. Without specific data on the number of days on market (DOM) and the percentage of homes that have been subject to price cuts, it's challenging to assess how competitive or affordable the acquisition costs are. Investors should seek out more detailed information on these metrics to make an informed decision about property purchase prices.
Lastly, there is a need to evaluate tenant demand. With a population of 970, and a significant 23.6% of residents being renters, there is a notable interest in rental properties. This suggests that there could be a steady demand for housing units, particularly among those who prefer renting over buying.
Verdict: ZIP 93541 presents a mixed picture for investment. While there is a clear tenant demand and a defined FMR, the absence of current market rent data complicates the assessment of whether the rent math will work in favor of landlords. Additionally, the median home value is high, indicating that acquisitions might be costly. Investors should proceed with caution and gather more detailed local market information before committing to property 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.