Location: Oakland-Fremont, CA | Metro: Oakland-Fremont, 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 | $2,510 |
| 1 Bedroom | $2,750 |
| 2 Bedrooms | $3,370 |
| 3 Bedrooms | $4,310 |
| 4 Bedrooms | $5,100 |
| 5 Bedrooms | $5,916 |
| 6 Bedrooms | $6,626 |
| 7 Bedrooms | $7,156 |
| 8 Bedrooms | $7,514 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $3,370 | $1,040,482 | 0.32% | F |
| 3BR | $4,310 | $2,010,993 | 0.21% | F |
| 4BR | $5,100 | $2,562,683 | 0.2% | F |
| 5BR | $5,916 | $3,090,708 | 0.19% | F |
U.S. Census Bureau data (2024)
ZIP code 94507, located in Alamo, CA, falls within the larger Oakland-Fremont, CA HUD Metro FMR Area. To understand its position within this metro area, we must compare its Fair Market Rent (FMR) of $3,250, market rent of $3,501, median home value of $2,546,533, and renter share of 8.1% to typical figures for the metro.
The FMR for ZIP 94507 is slightly lower than the market rent, indicating that it is a bit more affordable for renters compared to the general market. However, the median home value is significantly higher than what might be considered average for the metro area, suggesting that it is a premium sub-market within the Oakland-Fremont region.
The renter share of 8.1% is relatively low compared to other areas in the Oakland-Fremont HUD Metro FMR Area, where the average renter share tends to be higher. This lower renter share suggests that fewer residents in 94507 are renting their homes, and more are likely homeowners. The combination of a high median home value and a low renter share implies that this ZIP code is primarily attractive to those who can afford to purchase property rather than rent.
Given the specific figures, ZIP 94507 does not fit the profile of a Section 8 sweet spot. A sweet spot would typically have a higher renter share coupled with below-average home values, which signals affordability for rental assistance programs. Instead, the high home values and low renter share indicate that this is a premium sub-market, less likely to attract a large number of tenants seeking Section 8 housing.
To conclude, ZIP 94507 stands out as a premium sub-market within the Oakland-Fremont HUD Metro FMR Area. Its high median home value and low renter share suggest that it is more suited for those looking to invest in high-value properties rather than seeking opportunities in more affordable or Section 8-friendly neighborhoods.
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.