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 | $2,070 |
| 1 Bedroom | $2,270 |
| 2 Bedrooms | $2,780 |
| 3 Bedrooms | $3,560 |
| 4 Bedrooms | $4,210 |
| 5 Bedrooms | $4,884 |
| 6 Bedrooms | $5,470 |
| 7 Bedrooms | $5,908 |
| 8 Bedrooms | $6,203 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,780 | $550,460 | 0.51% | F |
| 3BR | $3,560 | $712,428 | 0.5% | F |
| 4BR | $4,210 | $789,621 | 0.53% | F |
| 5BR | $4,884 | $906,912 | 0.54% | F |
U.S. Census Bureau data (2024)
ZIP 94519, located in Concord, CA, within the Oakland-Fremont, CA HUD Metro FMR Area, offers a strategic fit for a Section 8 portfolio due to its characteristics as a cash-flow anchor. The Fair Market Rent (FMR) for FY 2024 is set at $2680, while the average market rent stands at $3170. This indicates that properties in ZIP 94519 can generate a consistent positive cash flow when rented under the Section 8 program. The median home value in this area is $722,595, which supports the notion that it is a stable and potentially valuable market segment.
The spread between the FMR and market rent provides a solid margin for landlords who are willing to participate in the Section 8 program. By accepting Section 8 tenants, landlords can ensure a steady stream of rental income, which is particularly useful in managing a diverse portfolio. The lower risk associated with government-backed rental payments makes this ZIP code an attractive choice for those looking to secure reliable cash flows.
While the appreciation potential is modest, with only a 0.2% price-cut share and an N/A-day DOM (Days on Market), the focus should be on the stability and predictability of cash flows rather than rapid capital appreciation. ZIP 94519 also has a significant renter share at 29.1%, indicating a robust demand for rental housing. The median income of $122,418 suggests that residents have the financial capacity to afford higher rents, further supporting the viability of the market.
In summary, ZIP 94519 serves as a cash-flow anchor within a Section 8 portfolio strategy. The consistent positive spread between the FMR and market rent, combined with the strong demand for rentals and the financial stability of the area, makes it an ideal choice for landlords seeking to stabilize their income streams and manage risks effectively.
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.