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 | $1,330 |
| 1 Bedroom | $1,340 |
| 2 Bedrooms | $1,660 |
| 3 Bedrooms | $2,300 |
| 4 Bedrooms | $2,630 |
| 5 Bedrooms | $3,051 |
| 6 Bedrooms | $3,417 |
| 7 Bedrooms | $3,690 |
| 8 Bedrooms | $3,875 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,340 | $128,835 | 1.04% | B |
| 2BR | $1,660 | $229,399 | 0.72% | D |
| 3BR | $2,300 | $402,798 | 0.57% | F |
| 4BR | $2,630 | $483,224 | 0.54% | F |
| 5BR | $3,051 | $557,100 | 0.55% | F |
U.S. Census Bureau data (2024)
Located in the sprawling southeast quadrant of Fresno, the 93727 ZIP code offers a suburban feel with convenient access to the region’s key logistics and retail corridors. This area is defined largely by its proximity to the bustling Fresno Yosemite International Airport and the adjacent Highway 41 and 180 interchange, making it a practical hub for transportation professionals and frequent travelers. The neighborhood features a mix of mid-century single-family homes and modern developments, anchored locally by major employers such as Amazon, which operates a significant fulfillment center nearby, providing steady employment base for residents.
From a strictly numerical standpoint, 93727 presents a challenging landscape for Section 8 investors relying on current Fair Market Rates. The HUD SAFMR for a 2-bedroom unit sits at $1,440, yet the prevailing market rent (Zillow ZORI) commands $2,358, resulting in a substantial cash-flow gap of $918 per month. This discrepancy means voucher holders cannot compete effectively for market-rate stock without significant rent concessions. With median home values at $432,493 and properties lingering a median of 44 days on the market, the asset class holds value, but the rental math requires careful scrutiny.
Demand drivers in this area include a renter share of 36.2% supported by a median household income of $87,466, indicating that while the population is renting, many can afford market rates above the voucher limit. The area appeals to families due to access to the Clovis Unified School District on its eastern fringes, a major draw for long-term stability, and the presence of regional shopping destinations like the Fig Garden Village area just a short drive west. However, reliance on personal vehicles is high, as public transit options are less robust here compared to the downtown core.
For the Section 8 investor, 93727 is primarily an appreciation play rather than an immediate cash-flow vehicle. With the $918 gap between the 2BR SAFMR and market rent, relying solely on HUD payments will likely result in negative returns relative to the asset’s $432,493 median value. The strongest angle here is betting on long-term capitalization rate improvement through future FMR adjustments, rather than seeking immediate monthly income from the housing authority.
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.