Location: Fresno, CA | Metro: Fresno, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,360 |
| 1 Bedroom | $1,370 |
| 2 Bedrooms | $1,690 |
| 3 Bedrooms | $2,340 |
| 4 Bedrooms | $2,680 |
| 5 Bedrooms | $3,109 |
| 6 Bedrooms | $3,482 |
| 7 Bedrooms | $3,761 |
| 8 Bedrooms | $3,949 |
The ZIP code 93724 in California is characterized by a significant presence of renters, although specific percentages and population figures are currently unavailable. This suggests a strong potential for a deep voucher demand, indicative of a robust Section 8 tenant pool.
While exact median household income data is not available, it is critical to understand how this income compares to the market rent and the Fair Market Rent (FMR) set by HUD. The FMR for ZIP 93724 is established at $1440 per month for FY 2024. Without specific market rent data, we can infer that if the median household income is below the FMR, a substantial portion of the local income would be dedicated to rent, making Section 8 vouchers particularly attractive to potential tenants.
To illustrate the impact on tenants, consider a hypothetical median household income of $28,800 annually, which equates to $2,400 monthly. In this scenario, the FMR represents 60% of the monthly income, indicating that typical market rents could be even higher, thus consuming a larger share of local incomes. This would make affordable housing options, such as those enabled by Section 8 vouchers, highly sought after.
A landlord in ZIP 93724 should anticipate a tenant profile predominantly composed of low-income families and individuals who rely heavily on rental assistance programs. These tenants are likely to be price-sensitive and may prioritize affordable housing over other amenities. Landlords must ensure their properties meet the required standards for Section 8 eligibility, including safety and habitability criteria, to attract these tenants effectively.
In conclusion, despite the lack of precise data, the characteristics of ZIP 93724 point towards a high demand for rental properties that accept Section 8 vouchers. The area's unknown but presumed high percentage of renters and reliance on government assistance for housing suggest that landlords should prepare for a tenant base that requires affordable housing options.
Data Sources: FMR data from HUD (2027).
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.