Location: Oakland-Fremont, CA | Metro: Oakland-Fremont, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,060 |
| 1 Bedroom | $2,260 |
| 2 Bedrooms | $2,770 |
| 3 Bedrooms | $3,540 |
| 4 Bedrooms | $4,190 |
| 5 Bedrooms | $4,860 |
| 6 Bedrooms | $5,443 |
| 7 Bedrooms | $5,878 |
| 8 Bedrooms | $6,172 |
U.S. Census Bureau data (2024)
The ZIP code 94720 stands out due to its high rental rate and relatively low number of residents. With 5,763 residents, it has a significant 75.2% of its population renting their homes. This indicates a strong demand for rental properties in the area. However, the lack of specific data on median income and median home value suggests that there might be variability or challenges in collecting comprehensive economic information for this ZIP.
Moving into the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 94720 in fiscal year 2024 is set at $2,560. In contrast, the Census ACS reports the market rent at $3,501. This discrepancy means that landlords accepting Section 8 vouchers in this area could potentially face a shortfall of approximately $941 per month compared to market rates. Despite this gap, the high percentage of renters in ZIP 94720 can still make it an attractive option for landlords who are willing to participate in the program.
Given the data signature, ZIP 94720 appears to be in a transitional phase. The high rental rate coupled with the unknowns regarding median income and home values suggests a changing economic landscape. Landlords should be prepared for potential fluctuations in the local rental market and consider the long-term benefits of stable Section 8 tenants against the short-term financial implications of lower rents compared to market rates.
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.