Real Estate Investing in Armona, California (93202)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 93202 (Armona, CA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
- High vacancy: 13.1% of homes vacant — above national norms.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Armona, CA (93202)?
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Market Analysis: 93202 Armona
ZIP 93202 in Armona, CA carries a substantial set of headwinds. Home values near $310K and rents of $1,404/mo sit inside a market where underwriting has to be tight.
Stepping back, the numbers look inviting — $310K purchase price, 0.0% nominal cap — the work to hit that pro forma in 93202 is substantial and deserves full respect.
Regionally, 93202 sits on the difficult end of the CA spectrum. The a strong candidate for read — for disciplined operators — is that pricing reflects the difficulty.
Meanwhile, 4,014 residents fill the ZIP, renter turnover runs higher than neighboring postal codes and delinquency risk is a real line item rather than a theoretical one.
Experienced landlords with local relationships tend to find 93202 workable. Turnkey investors from out of state usually find the numbers do not hold up in practice.
Here's what matters if you're considering buying a home in Armona:
Property Strategy for 93202
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $226,695 | $1,560 | 5.0% | +8.0% | $113,348 |
| 3BR | $294,632 | $2,170 | 5.3% | +8.6% | $98,211 |
| 4BR | $336,790 | $2,600 | 5.6% | +8.1% | $84,198 |
Market Trends
Home Value History (with trend line)
📊 How Does 93202 Compare?
| Metric | 93202 | Armona | Hanford-Corcoran, CA | California |
|---|---|---|---|---|
| Home Value | $310,065 | $310,065 | N/A | $761,003 |
| 5-Year CAGR | 6.1% | 6.1% | N/A | 5.7% |
| Avg Rent | $1,404 | $1,404 | N/A | - |
| Cap Rate | 3.5% | 3.5% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 93202 (Armona, CA). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $310,065 |
| Monthly Rent | $1,404 |
| Price-to-Rent | 18.4:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 5.4% |
| Cap Rate | 3.5% |
| 5-Year IRR | 9.6% |
📈 Home Appreciation
| 1-Year | +4.8% ▲ |
| 3-Year CAGR | +5.3% ▲ |
| 5-Year CAGR | +6.1% ▲ |
| 10-Year CAGR | +8.2% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (3.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 93202
Population: 4,014
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 93202
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,778 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What is the average home sale price in Armona, CA?
In Armona, CA the median home value sits at $310K. Against the broader CA market, that reads as reasonable for most investors.
Is it easy to find good tenants in Armona, CA?
Expect a solid tenant pool in Armona, CA. The rental market absorbs $1,404/mo rents without meaningful friction.
Is Armona, CA good for house hacking?
The a challenging house-hack environment in Armona, CA reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
How does Armona, CA rate as a rental market?
With a 3.0/5 investability score, Armona, CA ranks as a solid market for rental property investors. Median prices of $310K and rents of $1,404/mo drive the underlying numbers.
How should investors approach Armona, CA?
For Armona, CA, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
You know 93202 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 93202 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 93202 ranks in Hanford-Corcoran, CA
Every ZIP in this metro, ranked. Free.
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