Location: Fresno, CA | Metro: Fresno, CA HUD Metro FMR Area
| 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 |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 93627 in the Fresno, CA area for fiscal year 2024 is set at $1190. This figure represents the average rent that voucher holders can expect to pay for a standard unit. However, without specific data on current market rents, it's challenging to determine how well voucher tenants will cashflow at this rate. Typically, if the market rent exceeds the HUD FMR significantly, voucher tenants would only cashflow with premium units or marginally at best.
The median home value in ZIP 93627 is currently not available, which makes deriving an accurate rent-to-price ratio difficult. This metric is crucial for understanding the local housing market dynamics, particularly when considering the balance between renting and buying. If the median home value were known, it could provide insights into the relative affordability of rental properties versus homeownership options.
The days on market (DOM) and price cut percentages for homes in this area are also not specified, but these factors play a significant role in the rent-versus-buy decision. High DOM and frequent price cuts indicate a sluggish housing market, which might suggest stability in rental pricing due to fewer sales transactions influencing the market.
Given the limited data, the strongest angle for investors in ZIP 93627 appears to be stability. The consistent HUD FMR provides a reliable income stream, especially in an area where market fluctuations are unclear. Stability is key for both landlords and small-portfolio investors, ensuring predictable cash flow and minimizing the risk associated with volatile markets.
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.