Location: Santa Ana-Anaheim-Irvine, CA | Metro: Santa Ana-Anaheim-Irvine, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,580 |
| 1 Bedroom | $2,610 |
| 2 Bedrooms | $3,060 |
| 3 Bedrooms | $4,160 |
| 4 Bedrooms | $4,970 |
| 5 Bedrooms | $5,765 |
| 6 Bedrooms | $6,457 |
| 7 Bedrooms | $6,974 |
| 8 Bedrooms | $7,323 |
The Section 8 market in ZIP code 90622, which falls under the Santa Ana-Anaheim-Irvine County area in California, is characterized by a HUD Fair Market Rent (FMR) of $2780 for fiscal year 2024. This figure represents the maximum amount that voucher holders can pay towards their housing costs. However, due to the lack of current market rent data, it's challenging to make a direct comparison between the HUD FMR and what landlords might typically charge.
Based on the available HUD FMR, voucher tenants would generally cashflow at this rate, assuming the market rent does not significantly exceed the FMR. In areas where market rents are higher, landlords might find that voucher tenants only marginally cover expenses or require premium units to achieve positive cash flow. The absence of median home value data makes it difficult to calculate a precise rent-to-price ratio, but typically, this metric helps investors gauge the relative affordability of renting versus buying in the area.
The days on market (DOM) and price-cut share percentages are also unavailable, which means we cannot provide insights into how quickly properties sell or the frequency of price reductions. These metrics are crucial for understanding the local real estate market's health and can influence decisions regarding whether to focus on rental income or property appreciation.
In conclusion, given the limited data, the strongest angle for investors in ZIP 90622 appears to be cash flow. Voucher tenants at the HUD FMR should cover most operational costs, making this a reliable source of income for landlords and small-portfolio investors. However, further investigation into the local market conditions is recommended to fully understand the potential for investment in this area.
Data Sources: FMR data from HUD (2027).
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.