Location: Fresno, CA | Metro: Fresno, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,360 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,690 |
| 3 Bedrooms | $2,340 |
| 4 Bedrooms | $2,680 |
| 5 Bedrooms | $3,109 |
| 6 Bedrooms | $3,482 |
| 7 Bedrooms | $3,761 |
| 8 Bedrooms | $3,949 |
The Fair Market Rent (FMR) for ZIP code 93613 in fiscal year 2024 is set at $1440. This figure represents the payment standard for Section 8 housing vouchers in your area, meaning it's the maximum amount the government will pay on behalf of eligible tenants. It's important to note that this is not the rent you should charge; it's the limit on what the voucher can cover.
To put this into perspective, let's consider the local market. The median rent in ZIP 93613 is currently listed as N/A, which suggests that the FMR might be close to or slightly above the average rent in the area. This alignment indicates that Section 8 tenants could afford to live in typical rental units in your area, making it a viable option for landlords.
Regarding demand, the percentage of renters in ZIP 93613 who might benefit from Section 8 is also noted as N/A%. This metric helps gauge the potential interest in Section 8 properties. If this share is significant, it means there's a strong demand for affordable housing options, which could ensure steady occupancy.
The acquisition cost for properties in this ZIP code is listed as N/A. This information is crucial when deciding whether to enter the Section 8 market. A lower acquisition cost compared to the FMR would mean a higher likelihood of profitability, but it's essential to factor in ongoing maintenance and management costs as well.
Before proceeding with a Section 8 rental, verify that your property meets the Housing Quality Standards (HQS). These standards ensure that the home is safe and habitable for tenants, which is a prerequisite for participation in the program. Failure to meet these standards could result in disqualification, so it's wise to conduct a thorough inspection and make any necessary repairs.
Data Sources: FMR data from HUD (2027).
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.