Location: Stockton-Lodi, CA | Metro: Stockton-Lodi, CA MSA
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 | $1,760 |
| 1 Bedroom | $1,880 |
| 2 Bedrooms | $2,330 |
| 3 Bedrooms | $3,230 |
| 4 Bedrooms | $3,890 |
| 5 Bedrooms | $4,512 |
| 6 Bedrooms | $5,053 |
| 7 Bedrooms | $5,457 |
| 8 Bedrooms | $5,730 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,330 | $394,001 | 0.59% | F |
| 3BR | $3,230 | $538,428 | 0.6% | F |
U.S. Census Bureau data (2024)
The market analysis for Section 8 investors in ZIP code 95231, French Camp, CA, reveals a challenging but potentially profitable landscape. The HUD Fair Market Rent (FMR) for this area in fiscal year 2024 is set at $1460 per month, significantly lower than the market rent of $2056 as reported by the Census ACS. This gap means that landlords will likely experience negative cash flow when renting properties at the HUD FMR, unless they can secure higher rents through premium unit offerings.
To derive the rent-to-price ratio, we consider the median home value of $515,791. Given the market rent of $2056, the annual rental income would be approximately $24,672. Dividing this by the median home value yields a rent-to-price ratio of about 0.048, or 4.8%. This low ratio suggests that buying homes in this area may not be as attractive compared to renting them out, especially considering the constraints posed by Section 8 voucher rates.
The dynamics between renting and buying are further complicated by the fact that the median Days on Market (DOM) and the percentage of price cuts are not available. However, these metrics typically influence how quickly properties can be sold or rented, and without them, it's difficult to assess the full picture of the local real estate market.
The strongest investor angle in ZIP 95231 is stability. While cash flow might be tight due to the disparity between HUD FMR and market rent, the relatively high median home value indicates a stable housing market that could provide long-term benefits through steady occupancy and potential appreciation over time.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.