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 | $3,070 |
| 3 Bedrooms | $3,930 |
| 4 Bedrooms | $4,650 |
| 5 Bedrooms | $5,394 |
| 6 Bedrooms | $6,041 |
| 7 Bedrooms | $6,524 |
| 8 Bedrooms | $6,850 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,510 | $672,055 | 0.37% | F |
| 2BR | $3,070 | $931,692 | 0.33% | F |
| 3BR | $3,930 | $1,240,346 | 0.32% | F |
| 4BR | $4,650 | $1,388,697 | 0.33% | F |
U.S. Census Bureau data (2024)
The ZIP code 94710, located in Berkeley, CA, is predominantly a renter-heavy area, with 63.2% of the population renting their homes. This high percentage indicates a strong potential for Section 8 tenants who rely on housing vouchers. The total population is 8,380, providing a substantial base of potential voucher users.
The median household income in this ZIP is $102,227, which is relatively high compared to the national average. Despite this, the market rent stands at $3,018 per month, representing a significant portion of the local income. To be precise, typical rent consumes about 35.4% of the median household income, calculated as ($3,018 / $102,227) * 100. This suggests that many residents, including those not on vouchers, might find it challenging to afford market rates without financial assistance.
The Federal Market Rent (FMR) for ZIP 94710 is set at $2,640 for fiscal year 2024. This figure is lower than the market rent, indicating that landlords participating in the Section 8 program will likely receive less than the current market rate. However, the difference between the FMR and market rent highlights the depth of voucher demand in this area, as the disparity can make it attractive for tenants seeking affordable housing options.
A landlord in ZIP 94710 should expect a diverse tenant pool, with a notable presence of low-income individuals who benefit from Section 8 vouchers. These tenants will generally have their rent capped at the FMR level, which is currently $2,640. Given the high cost of living and the significant gap between the FMR and market rent, there is a robust demand for subsidized housing among the local population.
In summary, ZIP 94710 is an ideal location for landlords looking to cater to a renter-heavy market with a high demand for Section 8 vouchers. While the median income is high, the cost of living is even higher, making rental assistance programs highly sought after. Landlords should prepare for a tenant pool that heavily relies on housing vouchers to manage the high rent costs associated with the area.
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.