Section 8 Fair Market Rent (FMR) for ZIP 93609 - 2027

Location: Fresno, CA | Metro: Fresno, CA HUD Metro FMR Area

FY 2027 Fair Market Rent Rates

Unit Size Monthly FMR
Studio$1,290
1 Bedroom$1,290
2 Bedrooms$1,600
3 Bedrooms$2,220
4 Bedrooms$2,540
5 Bedrooms$2,946
6 Bedrooms$3,300
7 Bedrooms$3,564
8 Bedrooms$3,742

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population
4,740
Median Household Income
$78,750
Housing Units
1,375
Renter Percentage
52.8%
Occupancy Rate
88.6%
Renter Occupied
643

Housing Authorities Serving ZIP 93609

52.8% of Caruthers, CA's residents are renters, indicating a significant demand for rental properties in ZIP 93609. The Fair Market Rent (FMR) for Section 8 in this area is set at $1340 for zip FY 2024, which is notably lower than the $1,392 market rent reported by the Census ACS. This discrepancy suggests that landlords participating in the Section 8 program may see slightly reduced rental income compared to the open market. However, the stability and reliability of Section 8 tenants can offset this difference, providing a consistent cash flow without the risk of vacancy. The median home value in Caruthers stands at $393,928, reflecting the overall housing market conditions. With a median income of $78,750, many residents may find it challenging to afford homeownership, further supporting the high renter share. Unfortunately, specific data on days on market (DOM) and the percentage of price-cut share are not available, which could provide insights into the local housing market dynamics. Despite these gaps, the numbers paint a picture of a community where rental properties, particularly those under Section 8, remain a viable investment option given the strong tenant demand and the affordability challenges faced by local residents. In conclusion, the Section 8 program in Caruthers offers a reliable source of income for landlords, with the FMR closely aligning with market rents.

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.