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 | $2,290 |
| 1 Bedroom | $2,510 |
| 2 Bedrooms | $3,080 |
| 3 Bedrooms | $3,940 |
| 4 Bedrooms | $4,670 |
| 5 Bedrooms | $5,417 |
| 6 Bedrooms | $6,067 |
| 7 Bedrooms | $6,552 |
| 8 Bedrooms | $6,880 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $3,080 | $474,071 | 0.65% | D |
| 3BR | $3,940 | $704,325 | 0.56% | F |
| 4BR | $4,670 | $798,225 | 0.59% | F |
| 5BR | $5,417 | $881,178 | 0.61% | D |
U.S. Census Bureau data (2024)
When considering whether to invest in ZIP 94564 (Pinole, CA) for Section 8 properties, follow this decision tree:
1) Does FMR $2,580 (ZIP FY 2024) clear debt service on a $730,710 property?
No. The Fair Market Rent (FMR) of $2,580 would not cover the debt service on a property valued at $730,710. Debt service typically includes mortgage payments, property taxes, insurance, and maintenance costs. For a property priced at $730,710, the annual debt service would likely exceed $2,580 per month, making it unprofitable without additional income sources.
2) Is market rent $2,700 (Census ACS) above, at, or below FMR?
The market rent of $2,700 is above the FMR of $2,580. This indicates that the rental market in Pinole, CA, offers higher rates than what is covered by Section 8 subsidies. Landlords may consider this as an opportunity to either supplement their income with the difference or to explore non-Section 8 tenants.
3) Are 20.6% renters + N/A-day DOM enough demand?
It depends. With 20.6% of the population being renters, there is a moderate level of demand. However, the lack of data on days on market (DOM) makes it difficult to assess how quickly rental properties are occupied. If the DOM is low, indicating quick occupancy, then the demand is sufficient. Conversely, if DOM is high, it suggests slower rental activity and may indicate insufficient demand.
If the FMR does not cover debt service, landlords should look into other sources of revenue or consider properties with lower purchase prices. If market rents are significantly higher than the FMR, landlords can choose to accept Section 8 tenants while charging market rates for non-subsidized units. The percentage of renters alone does not guarantee profitability; landlords must also consider vacancy rates and the speed at which units are rented.
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.