Section 8 Fair Market Rent (FMR) for ZIP 93624 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,220
1 Bedroom	$1,220
2 Bedrooms	$1,500
3 Bedrooms	$2,090
4 Bedrooms	$2,400
5 Bedrooms	$2,784
6 Bedrooms	$3,118
7 Bedrooms	$3,367
8 Bedrooms	$3,535

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

735

Median Household Income

$35,417

Housing Units

255

Renter Percentage

83.3%

Occupancy Rate

75.3%

Renter Occupied

160

When evaluating whether to purchase properties in ZIP code 93624 for Section 8 investment, follow this decision tree:

Step 1: Can the Fair Market Rent (FMR) of $1140 cover debt service?

No: Do not proceed. The FMR does not sufficiently cover the debt service on a property, making it financially unviable.
Yes: Proceed to Step 2. The FMR can cover the debt service, which is a prerequisite for a sustainable Section 8 investment.

Step 2: How does the market rent of $665 compare to the FMR?

Market rent is below FMR: It depends. While the FMR provides a higher rental income, the lower market rent suggests that non-Section 8 tenants might be hard to find. This could mean relying heavily on Section 8 vouchers, which comes with its own set of considerations.
Market rent is equal to or above FMR: Positive. This indicates that the property could attract both Section 8 and market-rate tenants, providing flexibility and potentially higher demand.

Step 3: Is there sufficient demand with 83.3% renters and N/A-day days on market (DOM)?

It depends: The high percentage of renters (83.3%) signals strong demand for rental housing in the area. However, without knowing the DOM, it's challenging to assess how quickly units can be filled. A low DOM would suggest robust tenant interest, while a high DOM could indicate slower turnover.

In summary, if the FMR of $1140 can cover your debt service, the next critical factor is the comparison between the market rent ($665) and the FMR. A market rent below the FMR limits the potential for non-Section 8 tenants but doesn't necessarily preclude investment. The final consideration is the rental demand, which is strong given the 83.3% renter population, though the exact DOM is needed to make a fully informed decision. With these factors considered, landlords and small-portfolio investors can determine the viability of investing in ZIP 93624 for Section 8 properties.

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.