Location: Mariposa County, CA | Metro: Madera County, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,380 |
| 1 Bedroom | $1,420 |
| 2 Bedrooms | $1,670 |
| 3 Bedrooms | $2,320 |
| 4 Bedrooms | $2,710 |
| 5 Bedrooms | $3,144 |
| 6 Bedrooms | $3,521 |
| 7 Bedrooms | $3,803 |
| 8 Bedrooms | $3,993 |
U.S. Census Bureau data (2024)
1430 is the Fair Market Rent (FMR) for ZIP code 93623 for fiscal year 2024, indicating the maximum rental assistance payment that can be made on behalf of tenants participating in the Section 8 program. Despite the N/A placeholder for market rent, which suggests incomplete data, the median home value stands at 487,549, providing a solid benchmark for property values in the area. The lack of specific percentages for the renter share and price-cut share, marked as N/A, means we cannot definitively state the proportion of renters or the frequency of price reductions. Similarly, the absence of a median income figure leaves us without insight into the average financial capability of residents. With the N/A-day Days on Market (DOM), it's unclear how quickly properties are typically sold or rented, but this could be due to limited data points rather than a reflection of market conditions. Given the available data, landlords and small-portfolio investors should set their rents at or below the 1430 FMR to remain competitive with Section 8 vouchers while being mindful of the higher median home value. The verdict for Section 8 in ZIP 93623 is positive, with the FMR being a reasonable target for rental pricing.
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.