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 ZIP code 93652 presents an interesting mix of yield and stability factors that are crucial for real estate investment decisions, particularly for those interested in Section 8 properties. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $1,160. This figure represents the maximum amount a landlord can charge for a Section 8 rental agreement, making it a key indicator of potential yield.
In comparison, the market rent stands at $1,556, indicating a higher rate that could be charged outside of Section 8 programs. However, the absence of home value data suggests that the market may be less predictable in terms of property appreciation, which can affect long-term investment strategies.
Stability is another critical factor, and here, 93652 shows a mixed profile. With 23.5% of residents being renters, there is a notable but not overwhelming presence of tenants who might benefit from Section 8 assistance. The lack of data regarding days on market (DOM) makes it difficult to assess how quickly properties can be leased, which is important for cash flow planning. The median household income of $44,342 is relatively low, which could suggest a higher demand for affordable housing options such as Section 8, but also implies a risk of higher tenant turnover due to financial instability.
Given these figures, 93652 leans towards being a steady-cashflow zone. While the FMR provides a reliable baseline for rental income, the significant gap between FMR and market rent indicates potential for higher yields if landlords can secure non-Section 8 tenants. The moderate percentage of renters and the lower median income point towards a market where Section 8 tenancy can offer consistent cash flow without the extreme volatility associated with high-renter populations or rapid market changes.
However, the absence of DOM data and home values introduces an element of uncertainty, suggesting that while the market offers steady cash flow, it may not be as stable as one with comprehensive data would indicate. Landlords should focus on securing properties with manageable maintenance costs and consider diversifying their portfolio to include both Section 8 and non-Section 8 units to balance yield and stability.
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.