Location: Oxnard-Thousand Oaks-Ventura, CA | Metro: Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,300 |
| 1 Bedroom | $2,560 |
| 2 Bedrooms | $3,040 |
| 3 Bedrooms | $4,070 |
| 4 Bedrooms | $4,730 |
| 5 Bedrooms | $5,487 |
| 6 Bedrooms | $6,145 |
| 7 Bedrooms | $6,637 |
| 8 Bedrooms | $6,969 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,560 | $396,447 | 0.65% | D |
| 2BR | $3,040 | $586,604 | 0.52% | F |
| 3BR | $4,070 | $1,006,633 | 0.4% | F |
| 4BR | $4,730 | $1,350,631 | 0.35% | F |
| 5BR | $5,487 | $2,276,653 | 0.24% | F |
U.S. Census Bureau data (2024)
The ZIP code 91362, located in Thousand Oaks, CA, stands out within Ventura County due to its robust economic profile. With a population of 35,996 residents, it has a rental rate of 27.1%, which is slightly below the national average. The median household income here is strong at $139,800, reflecting a higher-than-average earning capacity compared to many other ZIP codes. This is further underscored by the median home value of $1,207,098, indicating a high standard of living and significant investment in property.
Landlords and small-portfolio investors should take note of the voucher economics within this ZIP code. The Fair Market Rent (FMR) for ZIP 91362 for fiscal year 2024 is set at $2,960. In contrast, the Zillow Observed Rent Index (ZORI), which measures actual rents paid by tenants, is currently at $3,702. This discrepancy means that landlords who accept Section 8 vouchers will receive less rent than the market rate, potentially impacting their profitability. However, the higher income levels in the area suggest that tenants might be able to contribute a larger portion of the rent themselves, mitigating some of the financial gap.
The data signature for ZIP 91362 reads as stable. The high median income and home values indicate a consistent demand for housing, even if the rental rate is lower. This stability can provide a reliable environment for long-term investments. While the voucher economics present a challenge, the overall economic health of the ZIP code suggests that landlords can expect steady returns from their investments, barring any unforeseen changes in the local economy or housing market.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.