Section 8 Fair Market Rent (FMR) for ZIP 94520 - 2027

Location: Oakland-Fremont, CA | Metro: Oakland-Fremont, CA HUD Metro FMR Area

Investment Score for ZIP 94520

Monthly Rent (2BR)

$2,640

Median Price (2BR)

$365,944

1% Rule

0.72%

Annual Yield

8.66%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,970
1 Bedroom	$2,160
2 Bedrooms	$2,640
3 Bedrooms	$3,380
4 Bedrooms	$4,000
5 Bedrooms	$4,640
6 Bedrooms	$5,197
7 Bedrooms	$5,613
8 Bedrooms	$5,894

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$2,160	$240,746	0.9%	C
2BR	$2,640	$365,944	0.72%	D
3BR	$3,380	$632,686	0.53%	F
4BR	$4,000	$713,882	0.56%	F
5BR	$4,640	$829,463	0.56%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

37,381

Median Household Income

$82,479

Housing Units

14,085

Renter Percentage

62.5%

Occupancy Rate

97.4%

Renter Occupied

8,573

The city of Concord, located in the San Francisco Bay Area, is a bustling suburban community known for its blend of urban amenities and natural beauty. As a landlord or small-portfolio investor, understanding the rental market dynamics in ZIP code 94520 is crucial for making informed decisions about property investments and management.

The Fair Market Rent (FMR) for ZIP 94520 in fiscal year 2024 is set at $2,230 per month, providing a benchmark for rental pricing that aligns with the local cost of living.
The market rent, as indicated by the Zillow Observed Rental Index (ZORI), stands at $2,346 per month, reflecting the actual rents being charged for similar properties in the area.
The median home value in ZIP 94520 is $614,256, suggesting a relatively stable housing market with moderate appreciation potential.
Renters make up 62.5% of the population, indicating a strong demand for rental properties in the area.
The average Days on Market (DOM) for rental listings is 28 days, which points to a competitive rental market where properties are typically occupied quickly.
The median household income is $82,479, offering insight into the financial capacity of potential tenants and the overall economic health of the community.

Investors in ZIP 94520 can expect a robust rental market driven by a high renter share and a competitive environment. The close alignment between the Fair Market Rent and the actual market rent suggests that properties priced near these figures will attract tenants promptly. Given the median home value and household income, there is potential for steady cash flow and modest appreciation, making it a favorable area for those looking to invest in single-family homes or small apartment buildings. However, competition among landlords is likely, so maintaining well-managed properties that meet the needs of renters will be key to success.

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.