Location: San Diego-Chula Vista-Carlsbad, CA | Metro: San Diego-Chula Vista-Carlsbad, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,120 |
| 1 Bedroom | $2,260 |
| 2 Bedrooms | $2,730 |
| 3 Bedrooms | $3,620 |
| 4 Bedrooms | $4,380 |
| 5 Bedrooms | $5,081 |
| 6 Bedrooms | $5,691 |
| 7 Bedrooms | $6,146 |
| 8 Bedrooms | $6,453 |
U.S. Census Bureau data (2024)
The classification of ZIP code 91917 hinges on its unique blend of yield and stability factors. To begin, let's dissect the yield aspect. The Fair Market Rent (FMR) for 2024 in this area is set at $2,830. This figure represents the maximum rent a landlord can charge under Section 8 guidelines, which is significantly higher than the average market rent of $1,742. However, when juxtaposed against the median home value of $581,540, the rental yields appear modest. The gap between FMR and market rent suggests an opportunity for landlords to leverage Section 8 subsidies to command rents above the local average, thereby enhancing their profitability.
Moving onto stability, we see that 41.7% of residents are renters. This percentage indicates a moderate level of demand for rental properties but does not provide enough insight into the stability of the rental market without additional data such as days on market (DOM) and median income. Given the lack of these metrics, we must infer stability based on the existing information. A significant portion of renters implies consistent cash flow potential, though without knowing the income levels of these tenants, assessing the financial reliability is challenging.
In summary, ZIP 91917 leans towards being a steady-cashflow zone rather than a high-yield/low-stability market. The substantial disparity between the FMR and the market rent offers landlords a chance to increase their rental income, especially if they cater to Section 8 tenants. However, the high median home value suggests that property appreciation could be a more significant factor in overall investment strategy compared to rental yield alone. The moderate rental rate and the presence of a sizable renting population indicate a stable market where landlords can expect reliable income streams, provided they manage their properties effectively and comply with Section 8 regulations.
Data Sources: FMR data from HUD (2027). 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.