Section 8 Fair Market Rent (FMR) for ZIP 93656 - 2027

Location: Hanford-Corcoran, CA | Metro: Fresno, CA HUD Metro FMR Area

Investment Score for ZIP 93656

Monthly Rent (2BR)

$1,500

Median Price (2BR)

$274,378

1% Rule

0.55%

Annual Yield

6.56%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

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

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$1,500	$274,378	0.55%	F
3BR	$2,090	$331,248	0.63%	D
4BR	$2,400	$389,116	0.62%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

7,172

Median Household Income

$72,333

Housing Units

1,879

Renter Percentage

51.8%

Occupancy Rate

89.9%

Renter Occupied

876

Riverdale, CA, located in ZIP code 93656, is a community that offers a mix of housing options and a stable rental market. This area is particularly interesting for real-estate investors looking to capitalize on the rental sector, given its significant share of renters and the affordable housing costs.

The Fair Market Rent (FMR) for ZIP 93656 in fiscal year 2024 is set at $1240, indicating a competitive pricing benchmark for landlords.
The average market rent, according to the Census ACS, stands at $1,023, suggesting a slightly lower actual rent compared to the FMR, but still a viable price range for rental properties.
The median home value in Riverdale is $343,639, which reflects a moderate cost of entry for property owners looking to invest in the area.
A substantial 51.8% of residents are renters, making Riverdale a prime location for those focused on the rental market segment.
The median household income in the area is $72,333, providing insight into the financial stability of potential tenants.

The combination of a moderate median home value and a high renter share makes Riverdale an attractive investment opportunity, especially when considering the relatively low market rent compared to the FMR. The financial stability of the local population, as indicated by the median income, supports the sustainability of rental prices and suggests a steady demand for rental properties. Landlords and small-portfolio investors can expect a balanced market where rental income aligns with the financial capabilities of the majority of residents, ensuring a stable and predictable return on investment.

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.