Location: Modesto, CA | Metro: Merced, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,130 |
| 1 Bedroom | $1,230 |
| 2 Bedrooms | $1,600 |
| 3 Bedrooms | $2,200 |
| 4 Bedrooms | $2,550 |
| 5 Bedrooms | $2,958 |
| 6 Bedrooms | $3,313 |
| 7 Bedrooms | $3,578 |
| 8 Bedrooms | $3,757 |
U.S. Census Bureau data (2024)
The ZIP code 95316, located in Denair, California, stands out within Stanislaus County due to several key factors. With a population of 8,022 residents, 38.0% of whom rent their homes, it reflects a community where a significant portion of residents are tenants. The median income in this area is $97,764, which is notably higher than many other rural communities in the county. Additionally, the median home value of $551,993 is a distinguishing feature, indicating a relatively affluent neighborhood.
For landlords and small-portfolio investors, the voucher economics in Denair present an interesting opportunity. The Fair Market Rent (FMR) for the ZIP code 95316, set at $1,420 for fiscal year 2024, is slightly below the market rate of $1,438, according to Census ACS data. This suggests that landlords can expect to receive a rental amount close to the market rate when participating in the Section 8 program, making it a viable option for maintaining cash flow without significant loss.
Given the data signature of ZIP 95316, it appears to be a stable area. The high median income and median home value indicate a solid economic foundation, while the relatively low difference between the FMR and market rates suggests a balanced rental market. For investors, this stability means that the risk associated with rental income fluctuations is minimized, providing a reliable investment environment. However, the presence of a substantial rental population also signals ongoing demand for affordable housing solutions, aligning well with the benefits offered by the Section 8 program.
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.