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 | $2,100 |
| 1 Bedroom | $2,300 |
| 2 Bedrooms | $2,820 |
| 3 Bedrooms | $3,610 |
| 4 Bedrooms | $4,270 |
| 5 Bedrooms | $4,953 |
| 6 Bedrooms | $5,547 |
| 7 Bedrooms | $5,991 |
| 8 Bedrooms | $6,291 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,300 | $319,357 | 0.72% | D |
| 2BR | $2,820 | $558,903 | 0.5% | F |
| 3BR | $3,610 | $1,296,440 | 0.28% | F |
| 4BR | $4,270 | $1,749,419 | 0.24% | F |
| 5BR | $4,953 | $2,119,644 | 0.23% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 94595, which includes Walnut Creek, CA, is set at $2,790 for fiscal year 2024. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the actual rent you'll receive; it's the ceiling for what the government will pay on behalf of tenants.
In comparison, the local market rent for ZIP 94595 is currently at $2,423, according to the Zillow Observed Rent Index (ZORI). This indicates that the FMR is higher than the average market rent, potentially making Section 8 properties more attractive to tenants who might otherwise struggle to find affordable housing in the area.
The 18.1% renter share in Walnut Creek suggests that nearly one-fifth of households are renters. This percentage highlights a significant demand for rental properties, including those that accept Section 8 vouchers. Given the high cost of living in the Bay Area, this demand is likely to persist.
If you're considering purchasing a property to use as a Section 8 rental, the median home value in Walnut Creek is approximately $697,354. This is the typical price you would expect to pay for an existing home in the area, though new constructions or different types of properties may vary.
Before finalizing your decision to become a Section 8 landlord, ensure that the property meets all the necessary requirements set by the local housing authority. These requirements include things like safety standards and maintenance conditions, which must be met to qualify for the program.
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.