Section 8 Fair Market Rent (FMR) for ZIP 91908 - 2027
Location: San Diego-Chula Vista-Carlsbad, CA | Metro: San Diego-Chula Vista-Carlsbad, CA MSA
FY 2027 Fair Market Rent Rates
| 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 |
To determine if you should buy in ZIP code 91908 for Section 8 investments, follow this decision tree:
- Does the FMR of $2830 clear debt service on a property?
- Yes: The Fair Market Rent (FMR) of $2830 is sufficient to cover the debt service on a property in this area, assuming the property's cost and financing terms align with this income level.
- No: Do not purchase properties in this area for Section 8 tenants as the FMR does not cover the necessary debt service costs.
- Is the market rent above, at, or below the FMR?
- Above FMR: The market rent exceeds the FMR, which means Section 8 tenants may not be able to afford market rates. Consider only if you plan to offer below-market rates or if you can secure higher subsidies.
- At FMR: Market rent matches the FMR, making it a suitable investment for Section 8 tenants without the need for additional subsidies.
- Below FMR: Market rent is lower than the FMR, indicating that Section 8 tenants can easily afford the rent. This is ideal for landlords looking to invest in this area.
- Are the number of renters and days on the market sufficient to meet demand?
- Yes: With a high percentage of renters and a low number of days on the market, there is strong demand for rental properties in 91908. This makes it a good area for Section 8 investments.
- No: Insufficient demand exists if the percentage of renters is low and the days on the market are high. This suggests that properties may remain vacant longer, leading to potential financial strain.
Note: Specific percentages of renters and days on the market were not provided in the data. To make an informed decision, you must obtain these figures from local real estate sources or market analyses.
The decision to invest in ZIP 91908 for Section 8 properties hinges on whether the FMR covers your debt service, the relationship between market rent and FMR, and the overall demand for rentals in the area. If all conditions are favorable, proceed with confidence. Otherwise, reconsider or explore other ZIP codes that better fit your investment criteria.
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.