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 | $214,265 | 0.7% | D |
| 3BR | $2,090 | $253,661 | 0.82% | C |
| 4BR | $2,400 | $293,826 | 0.82% | C |
| 5BR | $2,784 | $331,762 | 0.84% | C |
U.S. Census Bureau data (2024)
The ZIP code 93701 in Fresno, California, presents a market characterized by a delicate balance between rental demand and supply, with notable insights into long-term housing pressures. The Fair Market Rent (FMR) for ZIP 93701 is set at $1,140 for fiscal year 2024, aligning closely with the Zillow Observed Rental Index (ZORI) at $1,148. This near parity suggests that the rental market is relatively stable, with neither significant overvaluation nor undervaluation compared to the official benchmark.
The median home value in the area stands at $244,327, indicating that homeownership remains accessible to a broad segment of the population. However, the fact that 85.6% of residents are renters points to a strong preference for renting over buying, which can be indicative of several underlying factors. High percentages of renters often suggest financial constraints, transient populations, or a lack of confidence in the stability of home values, all contributing to sustained rental demand.
While the specific figures for price-cut share and days on market (DOM) are not available, the high renter share implies consistent demand for rental properties. In such a scenario, landlords and small-portfolio investors can expect steady occupancy rates, but they must also be prepared for potential competition among property owners to attract tenants. The dynamics of this market favor those who can offer well-maintained, competitively priced rental units that meet the needs of a predominantly renter population.
The snapshot of the current market conditions in ZIP 93701 reveals a trend towards a rental-focused environment, driven by a high percentage of renters and stable rental prices. For investors, this means an ongoing opportunity to capitalize on the strong rental demand, but it also necessitates vigilance in maintaining competitive offerings to sustain tenancy and investment returns.
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.