Location: Fresno, CA | Metro: Fresno, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,360 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,690 |
| 3 Bedrooms | $2,340 |
| 4 Bedrooms | $2,680 |
| 5 Bedrooms | $3,109 |
| 6 Bedrooms | $3,482 |
| 7 Bedrooms | $3,761 |
| 8 Bedrooms | $3,949 |
The ZIP code 93649 is located in Piedra, CA. Unfortunately, the specific demographic data such as population, percentage of renters, median income, and median home value were not readily available for this particular ZIP code.
However, we can analyze the rental economics. The Fair Market Rent (FMR) for ZIP 93649 in fiscal year 2024 is set at $1440. This figure represents the maximum amount a voucher holder can pay towards their rent, which is determined by the U.S. Department of Housing and Urban Development (HUD).
To evaluate whether this ZIP code fits a hands-off voucher operator or a hands-on value-add buyer, we need to consider the FMR against the actual market rent. Since the exact market rent was not found, it's important to note that if the market rent is higher than the FMR, landlords might struggle to cover costs with only voucher payments. Conversely, if the market rent is close to or below the FMR, then voucher programs could be more attractive to landlords.
Given the lack of precise market rent data, it would be prudent for a hands-off voucher operator to ensure that the FMR covers the operational costs of maintaining a property. A hands-on value-add buyer might seek opportunities to improve the property and potentially command a higher market rent above the FMR, thus maximizing returns.
Data Sources: FMR data from HUD (2027).
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.