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 market in ZIP 93774, located in California, is characterized by significant rental activity, particularly through the Federal Housing Administration's Fair Market Rent (FMR) guidelines. The FMR for this area stands at $1440 for fiscal year 2024, indicating a stable rental pricing environment. However, the absence of specific data on market rent, price-cut share, days on market (DOM), and median home value suggests that the current snapshot lacks comprehensive details on the supply-demand balance.
The unknown percentage of price-cut share and days on market could imply either a well-balanced market or one where there is insufficient data to draw conclusions about the supply outpacing demand or vice versa. In a balanced market, landlords can expect steady occupancy rates without the need for frequent price adjustments. Conversely, if the market were heavily skewed towards either an oversupply or undersupply, we would likely see higher percentages of price cuts or longer DOM periods, respectively.
A notable aspect of ZIP 93774 is the unspecified percentage of renters in the area. This figure is critical for understanding long-term housing pressures. A high renter share typically signals persistent housing demand, which can exert upward pressure on rents over time. Landlords and small-portfolio investors should remain vigilant to changes in this metric, as it could indicate shifts in the local economy, population growth, or other factors influencing housing demand.
In summary, while the FMR provides a benchmark for rental pricing, the lack of additional market metrics makes it challenging to definitively state whether supply or demand is currently dominant. Nonetheless, the presence of FMR guidelines suggests that the rental market remains active and potentially under consistent demand, making it a noteworthy area for investment consideration.
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.