Section 8 Fair Market Rent (FMR) for ZIP 91913 - 2027

Investment Score for ZIP 91913

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,900
1 Bedroom	$3,090
2 Bedrooms	$3,740
3 Bedrooms	$4,960
4 Bedrooms	$6,000
5 Bedrooms	$6,960
6 Bedrooms	$7,795
7 Bedrooms	$8,419
8 Bedrooms	$8,840

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$3,090	$497,826	0.62%	D
2BR	$3,740	$569,985	0.66%	D
3BR	$4,960	$785,024	0.63%	D
4BR	$6,000	$990,598	0.61%	D
5BR	$6,960	$1,159,339	0.6%	D

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 91913 (Chula Vista, CA) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 91913 is set by HUD for 2026. The FMRs are as follows: - 0BR: $3130 - 1BR: $3360 - 2BR: $4100 - 3BR: $5460 - 4BR: $6620 The FMR for a 2BR unit is $4100, which represents 38.0% of the median household income of $129,337. This suggests that the rent is relatively affordable compared to the income levels in Chula Vista. However, it is important to consider how these FMRs compare to actual rents in the area. According to Zillow, the median price for a 2BR home in Chula Vista is $574,767. Given the high median home price, the rental market is likely to be competitive and potentially overpriced relative to FMRs. The price-to-FMR ratio for a 2BR unit is 11.7x, indicating that actual rents are significantly higher than the FMR. This means that tenants using Section 8 vouchers will face substantial constraints in finding units that fall within their budget. For instance, a tenant with a 2BR voucher would have to find a property priced at $4100 or less, which is far below the actual median rental price in the area. #### Affordability & Renter Profile With a population of 57,721 and a renter percentage of 29.8%, Chula Vista has a significant number of renters. The occupancy rate of 96.5% suggests that the housing market is quite tight, with very few vacant units available. This tightness can drive up rental prices and make it challenging for voucher holders to find suitable accommodation. Given the high median household income of $129,337, the typical resident in Chula Vista is likely to be financially stable and able to afford higher rents. However, the 29.8% of residents who are renters may include a mix of individuals and families with varying income levels. Some of these renters may rely on Section 8 vouchers to manage their housing costs, but the high price-to-FMR ratio indicates that they will struggle to find affordable units. #### Investor Angle From an investor perspective, the ZIP code 91913 offers mixed opportunities. The FMR for a 2BR unit is $4100, but the actual median rental price is much higher at $574,767. This discrepancy means that properties rented at FMR levels are likely to generate lower cash flows compared to market rates. However, the tight market and high demand for rentals could still provide a solid return on investment if the property is well-managed and located in a desirable area. To determine the investment grade, we need to consider factors such as the vacancy rate, the demand for rental properties, and the potential for appreciation. With an occupancy rate of 96.5%, the vacancy rate is very low, suggesting strong demand. Additionally, the high median home price indicates a robust real estate market, which could support rental value growth over time. However, the challenge for investors lies in the affordability gap. While the FMR is set at $4100 for a 2BR unit, the actual median rental price is $574,767, which is 11.7 times the FMR. This implies that renting at FMR levels may not be financially viable for many landlords, especially those looking for positive cash flow. #### Specific Actionable Insights 1. **Focus on Lower-Rent Properties**: Investors should focus on acquiring properties that can be rented at or near the FMR levels. For example, a 2BR unit rented at $4100 would be ideal for Section 8 voucher holders. This strategy requires careful selection of properties in areas where the competition for rental units is less intense. 2. **Consider Multi-Family Units**: Given the high FMR for larger units (e.g., 3BR and 4BR), investors might find better opportunities in multi-family buildings. These units often have higher FMRs and could attract tenants with larger families or multiple voucher holders sharing the space. For instance, a 3BR unit with an FMR of $5460 might be easier to fill than a single-family home. 3. **Evaluate Property Management Costs**: Due to the tight market and high demand, investors must also evaluate the cost of property management. High management fees can eat into the already slim margins when renting at FMR levels. Therefore, investors should look for properties that require minimal maintenance and have a history of low turnover rates. #### Bottom Line For Section 8-focused investors, the recommendation for ZIP code 91913 is to **Hold**. While there is a significant opportunity due to the high demand and tight market, the affordability gap between FMR and actual rents makes it challenging to achieve positive cash flow. Investors should carefully select properties that align with FMR guidelines and consider the long-term potential for rental value growth. However, the high price-to-FMR ratio suggests that this market may not be immediately profitable for those strictly adhering to FMR levels.

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.