Location: Madera County, CA | Metro: Madera County, 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 | $1,620 |
| 1 Bedroom | $1,630 |
| 2 Bedrooms | $1,870 |
| 3 Bedrooms | $2,590 |
| 4 Bedrooms | $3,130 |
| 5 Bedrooms | $3,631 |
| 6 Bedrooms | $4,067 |
| 7 Bedrooms | $4,392 |
| 8 Bedrooms | $4,612 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,870 | $347,336 | 0.54% | F |
| 3BR | $2,590 | $403,852 | 0.64% | D |
| 4BR | $3,130 | $505,013 | 0.62% | D |
| 5BR | $3,631 | $609,291 | 0.6% | F |
U.S. Census Bureau data (2024)
The Section 8 program's impact on rental properties in ZIP code 93614, which encompasses parts of Coarsegold, California, is significant due to the disparity between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR for ZIP 93614 is set at $1880, while the Census American Community Survey (ACS) reports the average market rent as $1772. This means that the FMR is higher than the market rent by $108, or approximately 6.1%.
This gap makes properties in ZIP 93614 particularly attractive for landlords and small-portfolio investors looking to maximize yields. The higher FMR ensures that voucher tenants will pay closer to the subsidized rate rather than the lower market rate. In essence, landlords can achieve a rental income that is above the typical market rate, thereby increasing their cash flow and investment returns.
However, it's important to consider the broader economic context of Coarsegold, CA. With only 13.1% of residents renting, the demand for rental units is relatively low compared to areas with a higher percentage of renters. Additionally, the median home value of $425,595 and median income of $87,869 suggest that homeownership is more prevalent and affordable in the area, which could further limit the pool of potential renters.
Despite these factors, the higher FMR provides an opportunity for landlords to leverage the Section 8 program effectively. By accepting voucher tenants, they can secure a steady stream of income that is slightly above the local market rate, without having to worry about the financial instability often associated with traditional renters. This makes the area a compelling option for those interested in stable, long-term rental investments.
To summarize, the $108 difference between the FMR and market rent in ZIP 93614 represents a 6.1% premium for voucher tenants. This premium, combined with the stability of Section 8 payments, positions the area as a favorable location for landlords seeking to enhance their investment yields. However, the limited rental market and economic conditions should be carefully considered when evaluating the overall investment potential.
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.