Location: Calaveras County, CA | Metro: Calaveras County, CA
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 | $1,270 |
| 1 Bedroom | $1,340 |
| 2 Bedrooms | $1,750 |
| 3 Bedrooms | $2,420 |
| 4 Bedrooms | $2,540 |
| 5 Bedrooms | $2,946 |
| 6 Bedrooms | $3,300 |
| 7 Bedrooms | $3,564 |
| 8 Bedrooms | $3,742 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $1,750 | $404,872 | 0.43% | F |
| 3BR | $2,420 | $505,598 | 0.48% | F |
| 4BR | $2,540 | $613,709 | 0.41% | F |
U.S. Census Bureau data (2024)
The ZIP code 95247, encompassing Murphys, CA, reveals a market in equilibrium but with subtle signs of motion. The Fair Market Rent (FMR) for the area stands at $1,780 as projected for metro fiscal year 2026, while the current market rent based on Census ACS data is slightly lower at $1,730. This suggests that rents are stable and likely to remain so, given the proximity between the current and projected figures.
A key indicator of market dynamics is the price-cut share, which in this case is an extremely low 0.1%. This implies that landlords are not frequently lowering their rents, indicating strong tenant demand relative to available rental units. The days on market (DOM) for rental properties is not available, which could mean listings are moving quickly, further supporting the idea of robust demand.
The median home value in Murphys is $496,411, a figure that reflects the overall economic health and desirability of the area. However, the absence of DOM data for sales suggests that the housing market might be less active compared to the rental market, potentially due to the area's seasonal nature or limited new construction.
The 19.0% renter share in Murphys indicates a smaller proportion of renters compared to owners. This can suggest that the long-term housing pressure leans towards stability rather than acute shortage. A lower renter share typically means that most residents own their homes, reducing the urgency for additional rental units. However, it also implies that any significant increase in population or economic activity could quickly turn the balance, creating a need for more rentals.
In summary, the snapshot of the market in Murphys, CA, points towards a scenario where demand currently matches supply, especially in the rental sector. The low price-cut share and stable rent levels suggest a market where tenants find it relatively easy to secure a place, yet the homeownership dominance hints at a resilient foundation against sudden shifts in housing pressure. Landlords and small-portfolio investors should monitor these indicators closely for any changes that could signal a shift in market dynamics.
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.