Location: Fresno, CA | Metro: Fresno, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,330 |
| 1 Bedroom | $1,330 |
| 2 Bedrooms | $1,650 |
| 3 Bedrooms | $2,280 |
| 4 Bedrooms | $2,620 |
| 5 Bedrooms | $3,039 |
| 6 Bedrooms | $3,404 |
| 7 Bedrooms | $3,676 |
| 8 Bedrooms | $3,860 |
U.S. Census Bureau data (2024)
The ZIP code 93740 is located in Fresno, California, and has a small population of 1,179 residents. The area lacks significant data regarding the percentage of renters, median income, and median home value. However, it is evident that the median age of the residents is relatively young at 19.8 years, compared to the median age of the Fresno, CA Metro Area which stands at 33.7 years.
In terms of economic indicators, the per capita income in ZIP 93740 is $6,592, which is notably lower than the per capita income in the Fresno, CA Metro Area ($32,569), California ($49,513), and the United States ($44,673). This suggests that the area may have a higher concentration of low-income residents, making it particularly suitable for Section 8 vouchers.
The Fair Market Rent (FMR) for ZIP 93740 is set at $1,440 for fiscal year 2024, indicating the maximum allowable rent for subsidized housing under the Section 8 program. While specific market rent figures are not available, the significantly lower per capita income suggests that market rents are likely below the FMR, making the area a good fit for hands-off voucher operators.
However, due to the limited number of housing units and the high rate of population movement, landlords might benefit from being hands-on and actively managing their properties to ensure compliance with Section 8 requirements and to maintain tenant satisfaction. Given the scarcity of detailed economic data, it is advisable for investors to conduct thorough local research before committing to investments in this ZIP code.
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.