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 | $2,840 |
| 1 Bedroom | $3,110 |
| 2 Bedrooms | $3,810 |
| 3 Bedrooms | $4,880 |
| 4 Bedrooms | $5,770 |
| 5 Bedrooms | $6,693 |
| 6 Bedrooms | $7,496 |
| 7 Bedrooms | $8,096 |
| 8 Bedrooms | $8,501 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $3,110 | $435,089 | 0.71% | D |
| 2BR | $3,810 | $667,875 | 0.57% | F |
| 3BR | $4,880 | $1,097,482 | 0.44% | F |
| 4BR | $5,770 | $1,422,323 | 0.41% | F |
| 5BR | $6,693 | $2,023,753 | 0.33% | F |
U.S. Census Bureau data (2024)
Dublin (ZIP 94568) is a planned suburban community in the Tri-Valley region known for its high quality of life and family-friendly character. The city features a well-regarded park system and the historic downtown Dublin Village, which serves as a walkable hub for dining and entertainment. A major economic driver anchoring the local employment base is the Kaiser Permanente Dublin Medical Center, which provides a stable source of healthcare jobs in the immediate area. The neighborhood is characterized by modern residential developments and convenient access to regional transit via the Dublin/Pleasanton BART station, connecting residents to the broader Bay Area job market.
Financially, Dublin presents a complex picture for Section 8 strategists. The HUD Fair Market Rent for a 2-bedroom unit stands at $3,970, significantly outpacing the current market rent of $3,072, resulting in a positive gap of $898 per month. This indicates that vouchers theoretically cover well above local going rates. However, the barrier to entry is steep, with a median home value of $1,306,767 and a median 2BR sales price of $695,157. Properties move quickly here, with a median days on market of just 25 days, signaling a competitive environment for buyers despite high price points.
The local tenant pool is robust, supported by a median household income of $214,385, though the renter share is relatively low at 34.3%. This demographic profile suggests a population with high purchasing power, which correlates with strong demand for quality housing. The area is served by highly rated schools within the Dublin Unified School District, such as Dublin High School, making the neighborhood attractive to families. While the high incomes reduce traditional voucher demand, the top-tier amenities and school ratings ensure that any available units, including those accepting vouchers, will face consistent interest from stable applicants.
For Section 8 investors, the verdict rests on cash-flow efficiency rather than appreciation plays. The substantial $898 gap between the FY2026 FMR ($3,970) and the Zillow market rent ($3,072) offers a rare cushion where government payments exceed typical market yields. If an investor can acquire a 2-bedroom property near the median sales price of $695,157, the ability to charge the FMR rate allows for immediate, strong operational cash flow relative to the asset cost, assuming acquisition costs are managed effectively against the high median home values.
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.