Median rents, rental comps, and market trends across 16 zip codes in Fresno, CA.
Most affordable major city in California, which admittedly is a low bar. Agriculture drives the economy and the renter population is large. Nobody's moving here for the Instagram, but the numbers work — and you still get California's full regulatory experience whether you asked for it or not.
Median Asking Rent
$1,645
Rent Change (YoY)
-4.5%
Avg Days on Market
46
Active Rental Listings
756
Median List Price
$373,500
Average across 16 zip codes
ZIP | Median Rent |
|---|---|
| 93723 | $2,560/mo |
| 93727 | $2,185/mo |
| 93711 | $2,150/mo |
| 93720 | $1,995/mo |
| 93704 | $1,650/mo |
| 93722 | $1,595/mo |
| 93710 | $1,550/mo |
| 93725 | $1,500/mo |
| 93728 | $1,425/mo |
| 93721 | $1,395/mo |
| 93706 | $1,350/mo |
| 93726 | $1,300/mo |
| 93705 | $1,295/mo |
| 93702 | $1,250/mo |
| 93701 | $1,195/mo |
| 93703 | $1,195/mo |
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| Unit Size | Median Rent |
|---|---|
| Studio | $1,075/mo |
| 1 Bedroom | $1,198/mo |
| 2 Bedroom | $1,448/mo |
| 3 Bedroom | $2,148/mo |
| 4 Bedroom | $2,450/mo |
Aggregated median across all Fresno zip codes with available data.
| ZIP | Median List Price |
|---|---|
| 93711 | $595,000 |
| 93720 | $499,888 |
| 93723 | $475,000 |
| 93727 | $455,990 |
| 93710 | $420,000 |
| 93722 | $419,000 |
| 93725 | $415,990 |
| 93704 | $398,000 |
| 93726 | $349,000 |
| 93706 | $330,000 |
| 93703 | $329,900 |
| 93728 | $324,000 |
| 93705 | $310,000 |
| 93702 | $300,000 |
| 93701 | $289,000 |
| 93721 | $224,900 |
| Unit Size | Fair Market Rent |
|---|---|
| Studio | $1,090/mo |
| 1 Bedroom | $1,100/mo |
| 2 Bedroom | $1,360/mo |
| 3 Bedroom | $1,900/mo |
| 4 Bedroom | $2,180/mo |
Fair Market Rents are published annually by HUD for the Fresno metropolitan area. Local housing authorities use these to set Section 8 voucher payment standards, typically between 90% and 110% of the FMR.
The median asking rent across Fresno, CA is currently $1,645/month, based on active rental listings across 16 zip codes. Median asking rents have decreased by -4.5% over the past 12 months.
Asking rents vary significantly across the city. ZIP 93723 has the highest median asking rent at $2,560/month, while ZIP 93701 comes in at $1,195/month.
Rental listings in the area spend an average of 46 days on market before being leased, suggesting a more tenant-friendly market.
The HUD Fair Market Rent for a 2-bedroom in the Fresno metro area is $1,360/month. Current median asking rents are above the FMR, which is common in growing markets.
Fresno is the cheapest way to invest in California rental property. The Central Valley is agriculture country, and that dominates the economy — food processing, farming, and the logistics around both. Fresno has a high percentage of renters and significant demand for affordable housing. The Tower District and areas near Fresno State are more premium by local standards. South and west Fresno are more affordable. California's rent control and tenant protection laws apply in full. The upside is that you get California-level regulatory protection for tenants but Midwest-level purchase prices. The downside is that the economy is less diversified than coastal California cities, and the income levels are lower, which puts a ceiling on what you can charge. For investors, Fresno works if you're realistic about the renter base and price accordingly.
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What rental comps are, what makes a good one, and how to use them to price your rental property accurately.
Fair market rent, Section 8, HUD... what does it all mean? A straightforward breakdown of how it works and why it matters.
A step-by-step guide to pricing your rental so it rents quickly without leaving money on the table.