Location: San Diego-Chula Vista-Carlsbad, CA | Metro: San Diego-Chula Vista-Carlsbad, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,190 |
| 1 Bedroom | $2,330 |
| 2 Bedrooms | $2,820 |
| 3 Bedrooms | $3,740 |
| 4 Bedrooms | $4,520 |
| 5 Bedrooms | $5,243 |
| 6 Bedrooms | $5,872 |
| 7 Bedrooms | $6,342 |
| 8 Bedrooms | $6,659 |
The ZIP code 91903 in Unknown, CA, lacks comprehensive demographic data, including population size, percentage of renters, and median household income. However, the absence of detailed statistics does not preclude analysis based on the available information.
To understand the potential for Section 8 tenants in this area, it's crucial to consider the Fair Market Rent (FMR) set by HUD, which is $2830 for FY 2024. This figure serves as a benchmark for comparing rental prices against income levels.
Without specific data on local market rents, we cannot provide an exact percentage of income spent on rent. Nevertheless, given that the FMR is established to reflect typical rents in the area, it can be inferred that rents in 91903 are likely around this amount. If the median household income were known, it would be possible to calculate the precise percentage of income devoted to housing costs. For example, if the median income were $40,000 annually, or roughly $3333 monthly, then the FMR would represent about 85% of the monthly income. This would indicate a significant portion of income allocated towards rent.
In terms of tenant profiles, landlords in 91903 can expect a mix of voucher holders and other low-income renters. The demand for affordable housing suggests a need for properties that align with the FMR. Landlords should prepare for tenants who rely on government assistance to cover their housing expenses, ensuring compliance with HUD regulations and maintaining property standards to meet voucher requirements.
Despite the incomplete data, the high FMR relative to potential incomes points to a challenging market where affordability is key. Landlords must be ready to work within the constraints of voucher programs and understand the dynamics of low-income housing in their 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.