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 Fair Market Rent (FMR) for ZIP code 93792 in fiscal year 2024 is set at $1440. This figure represents the payment standard under the Section 8 Housing Choice Voucher program, which means that if you participate in this program, the government will pay up to this amount per month towards the rent of eligible tenants. It's important to note that $1440 is not the actual rent you would charge; it's the maximum reimbursement rate.
To understand the potential demand for Section 8 rentals in your area, look at the percentage of renters in ZIP 93792. While the exact percentage is not available, typically a higher percentage of renters indicates greater demand for affordable housing options. This can be beneficial if you're looking to fill vacancies quickly and consistently.
Regarding the acquisition cost of properties in ZIP 93792, specific data is also not provided here. However, understanding the local property values is crucial before investing. If you know the average property value, you can calculate the potential return on investment based on the monthly reimbursement rates.
A key factor to consider before entering into a Section 8 agreement is the condition of your property. The government requires that all properties participating in the Section 8 program meet certain housing quality standards. Before you commit, ensure your property passes these inspections. This verification process is essential because failing to meet the required standards could result in penalties or loss of rental income.
In summary, the FMR of $1440 sets the upper limit for government payments towards rent in ZIP 93792. With a good understanding of the local rental market and property values, and by ensuring your property meets the necessary standards, you can make an informed decision about whether to offer your rental through the Section 8 program. The most critical step to take before proceeding is to verify that your property complies with the housing quality requirements.
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.