Location: Merced, CA | Metro: Merced, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,010 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,360 |
| 3 Bedrooms | $1,870 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
U.S. Census Bureau data (2024)
The ZIP code 95333, located in Le Grand, California, stands out within Merced County due to its unique demographic and economic characteristics. With a population of 2,963 residents, it has a rental rate of 35.7%, which is slightly above the national average. The median income in this area is $62,813, and the median home value is notably high at $349,753.
From a Section 8 perspective, the Financial Market Rent (FMR) for ZIP 95333 is set at $1230 for fiscal year 2024. This figure is significantly higher than the market rent, which is recorded at $932 according to the Census American Community Survey (ACS). This discrepancy means that landlords can potentially receive higher rents through Section 8 vouchers compared to the local market rates. For instance, if a landlord charges the FMR of $1230, they would earn approximately $300 more per month than the average market rent.
The data signature for ZIP 95333 reads as stable. Despite the relatively high median home value, the rental rate suggests a steady demand for housing assistance. Additionally, the gap between the FMR and market rent indicates a favorable environment for landlords participating in the Section 8 program, as they are likely to see a positive financial impact from the difference in these figures.
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.