Location: Santa Ana-Anaheim-Irvine, CA | Metro: Santa Ana-Anaheim-Irvine, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,590 |
| 1 Bedroom | $2,620 |
| 2 Bedrooms | $3,070 |
| 3 Bedrooms | $4,170 |
| 4 Bedrooms | $4,980 |
| 5 Bedrooms | $5,777 |
| 6 Bedrooms | $6,470 |
| 7 Bedrooms | $6,988 |
| 8 Bedrooms | $7,337 |
U.S. Census Bureau data (2024)
The rent math in ZIP 90743 does not work in favor of landlords when considering the Federal Market Rent (FMR) set at $2830 for fiscal year 2024. This figure is significantly higher than the actual market rent reported by the Census ACS, which stands at $2,521. Landlords should be cautious about pricing their properties above the market rate, as it could lead to vacancies.
Acquisition in ZIP 90743 is challenging due to the lack of specific data on median home values, days on market (DOM), and the percentage of homes that require price cuts. These metrics are crucial for understanding the affordability and competitiveness of the housing market. Without this information, it's difficult to gauge the financial feasibility of acquiring new rental properties in this area.
Tenant demand in ZIP 90743 is strong, with a population of 468 and a significant 45.1% renter share. This indicates that nearly half of the residents are actively seeking rental properties, creating a robust market for landlords and small-portfolio investors.
In conclusion, while there is a solid tenant demand in ZIP 90743, the discrepancy between the FMR and market rent suggests that landlords should price their rentals closer to the market rate to avoid prolonged vacancies. The lack of detailed acquisition data complicates investment decisions, but the high renter share offers a promising outlook for those willing to navigate these uncertainties. Landlords must balance the potential rewards of a high-demand rental market with the risks associated with overpricing their units.
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.