Location: Madera County, CA | Metro: Fresno, CA HUD Metro FMR Area
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 | $1,450 |
| 1 Bedroom | $1,460 |
| 2 Bedrooms | $1,800 |
| 3 Bedrooms | $2,490 |
| 4 Bedrooms | $2,850 |
| 5 Bedrooms | $3,306 |
| 6 Bedrooms | $3,703 |
| 7 Bedrooms | $3,999 |
| 8 Bedrooms | $4,199 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,800 | $279,779 | 0.64% | D |
| 3BR | $2,490 | $419,278 | 0.59% | F |
| 4BR | $2,850 | $570,898 | 0.5% | F |
U.S. Census Bureau data (2024)
The ZIP code 93602, located in Auberry, CA, falls within the Madera County, CA HUD Metro FMR Area. Its Fair Market Rent (FMR) for fiscal year 2024 is set at $1,190. Comparatively, the average FMR across the entire Madera County, CA HUD Metro FMR Area is typically higher, reflecting the general rental costs in the broader region.
Auberry's market rent stands at $1,452, which is above its FMR but lower than the average market rents in other parts of the county. The median home value in Auberry is $403,409, which is notably lower than many other ZIP codes within the same HUD Metro FMR Area. This suggests that Auberry could be considered a value pocket within the larger Madera County market, offering more affordable housing options relative to other areas.
The renter share in Auberry is 17.2%, indicating a moderate presence of renters compared to homeowners. This percentage is somewhat reflective of the overall county trend but does not necessarily signal a high concentration of Section 8 households. However, the combination of a relatively low median home value and a decent renter share might suggest that Auberry could attract a mix of both market-rate and subsidized renters, making it a potentially attractive area for landlords looking to serve a diverse tenant base.
In summary, ZIP 93602 is positioned as a value pocket within the Madera County, CA HUD Metro FMR Area, characterized by lower home values and slightly above-FMR market rents. While the renter share is not exceptionally high, it aligns well with the economic profile of Auberry, providing opportunities for landlords and small-portfolio investors who wish to target a segment of the market that includes both unsubsidized and subsidized tenants.
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.