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 analysis of ZIP code 93747, part of the Fresno, CA HUD Metro FMR Area, reveals several key points for landlords and small-portfolio investors.
The rent math does not work as expected due to insufficient data. The Fair Market Rent (FMR) for the area is set at $1440 for fiscal year 2024, but without the market rent figure, it's challenging to compare the viability of rental income against property management costs and other expenses. Landlords should seek additional local market data to make informed decisions on pricing.
Acquisition affordability remains unclear given the absence of specific figures for the median home value, days on market (DOM), and the percentage of homes that have been listed with price cuts. These metrics are crucial for understanding how competitive the housing market is and whether properties are being sold at favorable prices for potential acquisitions.
Tenant demand cannot be quantitatively assessed without the population and renter share data. Knowing the number of residents and the percentage of those who prefer renting over owning would help gauge the potential occupancy rates and the stability of rental income in the area.
Verdict: Investing in ZIP 93747 requires further research into local market conditions. While the FMR provides a benchmark for rental rates, the lack of comprehensive data on market rents, median home values, DOM, price-cut shares, population, and renter share makes it difficult to fully evaluate the profitability and demand for rental properties. Investors must gather detailed local real estate and demographic information to make an informed decision about the feasibility of their investment plans in this area.
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.