Location: Fresno, CA | Metro: Fresno, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,270 |
| 1 Bedroom | $1,280 |
| 2 Bedrooms | $1,580 |
| 3 Bedrooms | $2,190 |
| 4 Bedrooms | $2,500 |
| 5 Bedrooms | $2,900 |
| 6 Bedrooms | $3,248 |
| 7 Bedrooms | $3,508 |
| 8 Bedrooms | $3,683 |
U.S. Census Bureau data (2024)
The ZIP code 93703 in Fresno, CA, is heavily populated with renters, comprising 60.7% of the 33,420 residents. This makes it an ideal location for landlords looking to attract Section 8 tenants. The high percentage of renters indicates a robust demand for rental housing, which is further supported by the presence of a substantial number of voucher holders.
The median household income in this area stands at $48,737, while the average market rent is $1,491 per month. This means that typical rent consumes approximately 35% of the local median income. In comparison, the Fair Market Rent (FMR) for the fiscal year 2024 is set at $1,340, suggesting that rents in 93703 are slightly above the FMR but still within a reasonable range for many low-income households.
A landlord operating in ZIP 93703 can expect to encounter tenants who rely on Section 8 vouchers to cover their housing costs. These tenants will likely have a household income below 50% of the area median income, making them eligible for the voucher program. Given the high percentage of renters and the relatively affordable market rent, landlords should prepare for a steady stream of applications from voucher holders.
To summarize, ZIP 93703 is a renter-heavy area with a significant portion of the population relying on housing assistance. The local income levels and market rents align well with the needs of Section 8 tenants, ensuring a stable and consistent tenant pool for landlords and small-portfolio investors.
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.