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 | $1,250 |
| 1 Bedroom | $1,250 |
| 2 Bedrooms | $1,550 |
| 3 Bedrooms | $2,150 |
| 4 Bedrooms | $2,460 |
| 5 Bedrooms | $2,854 |
| 6 Bedrooms | $3,196 |
| 7 Bedrooms | $3,452 |
| 8 Bedrooms | $3,625 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,550 | $241,970 | 0.64% | D |
| 3BR | $2,150 | $309,575 | 0.69% | D |
U.S. Census Bureau data (2024)
The ZIP code 93650 in Fresno, CA, stands out due to its unique demographic and economic characteristics. With a population of 3,333 residents, it has a high rental rate of 71.6%, indicating a strong demand for housing units. The median income in this area is $49,031, which is relatively modest compared to the median home value of $296,972, suggesting that homeownership is less accessible to many residents.
For landlords and small-portfolio investors, the voucher economics provide an opportunity to serve tenants who might otherwise struggle to afford rent. The Fair Market Rent (FMR) for ZIP 93650 is set at $1,340 for fiscal year 2024, slightly above the current market rent of $1,296 as reported by the Census Bureau's American Community Survey (ACS). This means that landlords can potentially secure stable long-term tenants through the Section 8 program without significantly reducing their rental income.
Based on the data signature, ZIP 93650 appears to be a transitional area. The high percentage of renters and modest median income suggest that the population is dynamic, with a mix of young families, students, and working-class individuals. The median home value indicates that while there is significant wealth tied up in property, the majority of residents are likely renting rather than owning. This combination of factors points towards a neighborhood that is evolving, possibly due to changes in local employment opportunities or infrastructure development.
To summarize, ZIP 93650 offers a favorable environment for landlords and investors willing to participate in the Section 8 program. The slight premium in FMR over market rates provides a reasonable margin, and the high rental rate suggests a robust tenant pool. However, the transitional nature of the area implies that ongoing monitoring of local trends and economic conditions will be necessary to make informed investment decisions.
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.