Location: San Diego-Chula Vista-Carlsbad, CA | Metro: San Diego-Chula Vista-Carlsbad, CA MSA
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 | $2,050 |
| 1 Bedroom | $2,180 |
| 2 Bedrooms | $2,640 |
| 3 Bedrooms | $3,500 |
| 4 Bedrooms | $4,240 |
| 5 Bedrooms | $4,918 |
| 6 Bedrooms | $5,508 |
| 7 Bedrooms | $5,949 |
| 8 Bedrooms | $6,246 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,640 | $383,570 | 0.69% | D |
| 3BR | $3,500 | $512,037 | 0.68% | D |
U.S. Census Bureau data (2024)
The median income in ZIP code 91905, Boulevard, CA, stands at $77,886. At first glance, this might seem sufficient to cover the market rate rent of $1,163 per month, based on Census ACS data. However, when considering the financial realities of living expenses, it becomes clear that the affordability gap for renters is significant.
To put this into perspective, let's look at the housing voucher payment standard. The Fair Market Rent (FMR) for ZIP 91905 in fiscal year 2024 is set at $2,520. This figure represents the maximum amount that a housing voucher will pay towards rent. It's notably higher than the market rate, indicating that the rental market is below the federal benchmark for affordable housing.
In a population of 1,683, only 10.5% are renters. This low percentage suggests a competitive environment for landlords, as there are fewer potential tenants relative to the total population. The limited number of renters means that landlords must carefully consider their rental pricing and tenant selection strategies to ensure occupancy.
The disparity between the median income and the market rate rent, combined with the high FMR, points to an affordability issue for many households. For landlords, this means that relying solely on market-rate rents could result in prolonged vacancies. Conversely, accepting housing vouchers could provide a steady stream of tenants, albeit with lower rent payments compared to the FMR.
The takeaway for landlords is clear: while the market rate of $1,163 may be attainable for some households, the overall economic landscape favors a mixed strategy. Accepting vouchers ensures a consistent tenant base, even if it means receiving less than the FMR. Landlords should weigh the benefits of guaranteed occupancy against the lower monthly rent payments associated with vouchers.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.