Location: Fresno, CA | Metro: Fresno, 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 | $1,220 |
| 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 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,500 | $238,290 | 0.63% | D |
| 3BR | $2,090 | $310,512 | 0.67% | D |
| 4BR | $2,400 | $362,186 | 0.66% | D |
| 5BR | $2,784 | $394,947 | 0.7% | D |
U.S. Census Bureau data (2024)
The investment risk assessment for ZIP 93648 in Parlier, CA, highlights several potential issues that could impact a landlord's profitability when participating in the Section 8 program. First, tenant turnover is a significant concern. The market rent in this area stands at $1,116, which is notably lower than the Fair Market Rent (FMR) of $1,230 for fiscal year 2024. This discrepancy suggests that tenants might be more inclined to move out once their voucher expires, leading to higher turnover rates.
Vacancy exposure is another critical factor. The Days on Market (DOM) figure is currently unavailable, which makes it challenging to predict how long it might take to find a new tenant. Given the lower market rent compared to the FMR, there is a risk of extended vacancies if voucher holders prefer properties that meet or exceed the FMR threshold.
Deferred maintenance is also a concern, especially considering the typical home value of $329,427 and the median income of $52,348. These figures indicate that residents might struggle to afford substantial repairs or upgrades, potentially leaving landlords responsible for maintaining the property to Section 8 standards without additional compensation.
However, these risks must be weighed against the high renter share in the area, which is 53.8%. A high percentage of renters typically translates into greater demand for housing vouchers, which can provide a steady stream of tenants willing to pay the FMR rate. This demand helps mitigate the risk of vacancies and ensures a consistent income source for landlords who can manage the property effectively.
In conclusion, despite the challenges posed by tenant turnover, vacancy exposure, and deferred maintenance, the high renter density in ZIP 93648 creates a robust market for Section 8 vouchers. Therefore, the overall risk for a first-time Section 8 landlord in this area is moderate.
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.