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 | $1,530 |
| 1 Bedroom | $1,540 |
| 2 Bedrooms | $1,770 |
| 3 Bedrooms | $2,450 |
| 4 Bedrooms | $2,960 |
| 5 Bedrooms | $3,434 |
| 6 Bedrooms | $3,846 |
| 7 Bedrooms | $4,154 |
| 8 Bedrooms | $4,362 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,770 | $347,979 | 0.51% | F |
| 3BR | $2,450 | $435,973 | 0.56% | F |
| 4BR | $2,960 | $568,767 | 0.52% | F |
| 5BR | $3,434 | $668,455 | 0.51% | F |
U.S. Census Bureau data (2024)
The rent math in ZIP 93644, Oakhurst, CA, is nearly balanced but leans slightly against affordability for tenants. The Fair Market Rent (FMR) set at $1,580 for the fiscal year 2024 is just below the reported market rent of $1,596 according to Census ACS data. This suggests that while rents are close to being subsidized, they still present a financial challenge for many tenants.
Acquisition in this area is relatively affordable, with a median home value of $437,033. However, the lack of data on days on market (DOM) and the low percentage of homes needing price cuts (0.2%) indicate that the housing market is stable but not particularly active. This stability means that while homes are priced reasonably, there might be limited opportunities for quick turnover or rapid appreciation in value.
Tenant demand in ZIP 93644 is moderate. With a total population of 7,614, the renter share stands at 20.2%. This translates to approximately 1,538 renters, providing a reasonable pool of potential tenants. However, the relatively small number of renters compared to the overall population suggests that competition among landlords could be stiff, and vacancy rates might fluctuate based on seasonal changes typical for the area.
In conclusion, ZIP 93644 presents a scenario where the rent math is tight but feasible for tenants, making it a marginal area for Section 8 participation. Acquisition costs are reasonable, though the housing market shows signs of stability rather than high activity. Tenant demand is moderate, offering landlords a steady but not overwhelming influx of potential residents. Landlords should prepare for competitive leasing practices and be ready to adjust their rental strategies to accommodate the nuances of this market.
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.