Location: Fresno, CA | Metro: Fresno, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,520 |
| 1 Bedroom | $1,530 |
| 2 Bedrooms | $1,890 |
| 3 Bedrooms | $2,620 |
| 4 Bedrooms | $3,000 |
| 5 Bedrooms | $3,480 |
| 6 Bedrooms | $3,898 |
| 7 Bedrooms | $4,210 |
| 8 Bedrooms | $4,421 |
U.S. Census Bureau data (2024)
The ZIP code 93704 in Fresno, CA stands out due to its significant rental population and moderate income levels. With 28,932 residents, 44.0% of whom rent their homes, this area has a substantial demand for affordable housing. The median income in 93704 is $73,234, which is relatively stable compared to the median home value of $378,728, indicating that homeownership is less common among middle-income earners.
In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 93704 is set at $1,570 for fiscal year 2024. This is notably lower than the market rent, as measured by the Zillow Rent Index (ZORI), which stands at $1,712. Landlords and small-portfolio investors should take note of this discrepancy, as it suggests that tenants relying on Section 8 vouchers might find it challenging to secure housing without subsidies.
The data signature for ZIP 93704 reads as stable. The relatively high median home value coupled with a significant rental population indicates a steady demand for both types of housing. However, the gap between the FMR and the market rent highlights an ongoing challenge for low-income renters, making it essential for landlords to consider the benefits and drawbacks of accepting Section 8 vouchers. Despite these challenges, the overall economic profile of the area suggests a consistent environment for investment, with a reliable tenant base and predictable housing costs.
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.