Location: Sacramento--Roseville--Arden-Arcade, CA | Metro: Sacramento--Roseville--Arden-Arcade, CA HUD Metro FMR Area
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 | $1,460 |
| 1 Bedroom | $1,510 |
| 2 Bedrooms | $1,850 |
| 3 Bedrooms | $2,430 |
| 4 Bedrooms | $2,800 |
| 5 Bedrooms | $3,248 |
| 6 Bedrooms | $3,638 |
| 7 Bedrooms | $3,929 |
| 8 Bedrooms | $4,125 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $1,510 | $284,851 | 0.53% | F |
| 2BR | $1,850 | $310,336 | 0.6% | F |
| 3BR | $2,430 | $364,453 | 0.67% | D |
| 4BR | $2,800 | $406,443 | 0.69% | D |
U.S. Census Bureau data (2024)
The HUD Fair Market Rent (FMR) for ZIP code 95815 in Sacramento, CA, for fiscal year 2024 is set at $1650. This figure is notably below the current market rent, which stands at $1817 according to ZORI (Zillow Observed Rent Index). Voucher tenants in this area will typically generate marginal cash flow at the HUD FMR, meaning that landlords might see slight profitability but likely not enough to cover all expenses comfortably. To achieve positive cash flow, landlords should focus on premium units that command higher rents.
The median home value in ZIP 95815 is $358,199. Using this figure, we can calculate a rent-to-price ratio, which is approximately 0.51%. This ratio suggests that rental income is relatively low compared to property values, indicating that appreciation could be a stronger investment angle than cash flow alone.
Note that the median days on market (DOM) is listed as N/A, and the share of listings making price cuts is 0.2%. These metrics imply a stable housing market where properties sell quickly without significant price adjustments. The stability in the real estate market supports the idea that rental income can be consistent and predictable, even if the immediate cash flow is modest.
In summary, while cash flow from voucher tenants may be limited, the potential for property appreciation and the stability of the local real estate market make ZIP 95815 an attractive investment area for Section 8 landlords and small-portfolio investors.
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.