Location: Fresno, 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 | $1,290 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,600 | $290,874 | 0.55% | F |
| 3BR | $2,220 | $387,557 | 0.57% | F |
| 4BR | $2,540 | $418,261 | 0.61% | D |
U.S. Census Bureau data (2024)
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). 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.