Section 8 Fair Market Rent (FMR) for ZIP 93626 - 2027

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

Investment Score for ZIP 93626

N/A

Monthly Rent (2BR)

$2,270

Median Price (2BR)

$N/A

1% Rule

Annual Yield

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,860
1 Bedroom	$1,880
2 Bedrooms	$2,270
3 Bedrooms	$3,140
4 Bedrooms	$3,660
5 Bedrooms	$4,246
6 Bedrooms	$4,756
7 Bedrooms	$5,136
8 Bedrooms	$5,393

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
3BR	$3,140	$534,162	0.59%	F
4BR	$3,660	$646,521	0.57%	F
5BR	$4,246	$796,015	0.53%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

3,304

Median Household Income

$173,788

Housing Units

1,285

Renter Percentage

5.5%

Occupancy Rate

94.3%

Renter Occupied

ZIP code 93626, located in Santa Barbara, California, is known for its affluent neighborhoods and proximity to the University of California, Santa Barbara. This area attracts both students and professionals, making it a diverse market with potential opportunities for landlords and small-portfolio investors.

The Fair Market Rent (FMR) for ZIP 93626 for fiscal year 2024 is set at $1950. This figure represents the median rent for a two-bedroom apartment and can be used as a benchmark for setting rental prices that comply with HUD guidelines.
Although the market rent is currently listed as N/A, indicating a lack of recent data, the high median income of the area suggests strong demand for quality rentals.
The median home value in ZIP 93626 stands at $614,009, reflecting the overall wealth of the community and potentially higher property values for rental investments.
Renters make up only 5.5% of the housing market in this zip code, which could indicate a challenge in finding tenants but also a strong owner-occupied base that supports property appreciation.
The Days on Market (DOM) data is currently unavailable, which might suggest a robust local real estate market where properties sell quickly, though this needs further investigation.
The median household income in ZIP 93626 is a substantial $173,788, pointing to a population capable of paying above-average rents and supporting higher-end rental properties.

Given the high median income and median home values, there's a significant opportunity for landlords and investors to target higher-income renters with quality, well-priced units. However, the low renter share indicates that competition for tenants could be fierce, necessitating a focus on maintaining competitive rental rates and attractive amenities. The lack of specific market rent data should be addressed by conducting local market research to better understand current rental trends and pricing.

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.