Location: Oakland-Fremont, CA | Metro: Oakland-Fremont, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,590 |
| 1 Bedroom | $2,840 |
| 2 Bedrooms | $3,480 |
| 3 Bedrooms | $4,460 |
| 4 Bedrooms | $5,270 |
| 5 Bedrooms | $6,113 |
| 6 Bedrooms | $6,847 |
| 7 Bedrooms | $7,395 |
| 8 Bedrooms | $7,765 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 94575 in fiscal year 2024 is set at $3000. This figure represents the payment standard for Section 8 housing vouchers in your area, meaning it's the maximum amount the government will pay to cover a tenant's rent. However, this does not mean you should charge exactly $3000; rather, it serves as an upper limit for reimbursement.
To put this into perspective, the local median rent for ZIP 94575 is currently N/A. While the exact number isn't available, the FMR can still guide you on what is considered reasonable for the area. The N/A% of residents who rely on rental assistance indicates a significant portion of the population may be interested in Section 8 properties, ensuring a steady demand for your rental units.
When acquiring a property for Section 8, the typical cost is around N/A. This includes the purchase price and any necessary renovations to meet the Housing Quality Standards (HQS) required by the program. It's important to note that the initial investment might be higher due to these standards, but the long-term stability of tenants and payments can offset this cost.
Before you decide to enter the Section 8 market, verify that your property meets the HQS. These standards ensure the safety and habitability of the home and include criteria such as structural integrity, heating, plumbing, and electrical systems. Compliance is mandatory and ensures you receive the agreed-upon payment without delays.
In summary, the FMR of $3000 sets the maximum reimbursement rate for Section 8 tenants in ZIP 94575. With a strong demand indicated by the percentage of renters seeking assistance and a known acquisition cost, investing in Section 8 properties can be a stable choice. Just ensure your property complies with the HQS to avoid complications.
Data Sources: FMR data from HUD (2027). 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.