Location: Oxnard-Thousand Oaks-Ventura, CA | Metro: Oxnard-Thousand Oaks-Ventura, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,830 |
| 1 Bedroom | $2,040 |
| 2 Bedrooms | $2,430 |
| 3 Bedrooms | $3,290 |
| 4 Bedrooms | $3,820 |
| 5 Bedrooms | $4,431 |
| 6 Bedrooms | $4,963 |
| 7 Bedrooms | $5,360 |
| 8 Bedrooms | $5,628 |
The ZIP code 91359, located in the Oxnard-Thousand Oaks-Ventura County area of California, presents a unique set of characteristics that distinguish it from other regions. Due to the lack of specific data points regarding the number of residents, percentage of renters, median income, and median home value, a detailed demographic analysis cannot be provided. However, the focus shifts to the economic dynamics surrounding Section 8 vouchers, which can inform investment decisions.
In terms of voucher economics, the Fair Market Rent (FMR) for ZIP 91359 is set at $2410 for the fiscal year 2024. This figure is crucial for landlords and small-portfolio investors as it dictates the maximum rent that can be charged to tenants using Section 8 vouchers. While the exact market rent for the area is not available, comparing the FMR to the local market can help determine if properties in this ZIP are overpriced or underpriced relative to the subsidy levels. If the local market rents are below $2410, then landlords may find it challenging to compete with non-subsidized rental units unless they offer amenities or features that justify the higher rent.
The absence of detailed data points makes it difficult to assess the stability or transitional nature of the ZIP 91359 housing market. Typically, a stable market would have consistent trends in population growth, rental rates, and median incomes, while a transitional market might show fluctuations due to changes in the local economy, migration patterns, or development projects. Given the incomplete data, further investigation into recent real estate transactions and local economic indicators would be necessary to provide a definitive assessment.
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.