Section 8 Fair Market Rent (FMR) for ZIP 91933 - 2027

FY 2027 Fair Market Rent Rates

ZIP code 91933, located within the San Diego-Chula Vista-Carlsbad, CA MSA, has a Fair Market Rent (FMR) of $2830 for fiscal year 2024. This figure is essential for landlords and small-portfolio investors operating under the Section 8 program, as it dictates the maximum rental amount that can be charged for units in this area.

Comparatively, the typical FMR for ZIP codes within the San Diego-Chula Vista-Carlsbad, CA MSA is higher. The absence of specific market rent and home value data for ZIP 91933 suggests limited availability of such information, which could indicate that the area is less developed or has fewer residential properties compared to other parts of the metro. However, the lower FMR implies that 91933 could be considered a value pocket within the larger San Diego metro area.

The lack of data on the renter share percentage makes it challenging to draw direct comparisons with other ZIP codes in the region. Nonetheless, if 91933 were to have a high renter share with below-average home values, it would align with characteristics often seen in areas attractive to Section 8 tenants. This combination typically signals a sweet spot for landlords who are willing to participate in the Section 8 program, as they can attract a steady stream of tenants without necessarily having to charge premium rents.

To further contextualize the position of ZIP 91933, landlords should consider the broader economic and demographic trends within the San Diego-Chula Vista-Carlsbad, CA MSA. For instance, the overall median home value in the MSA is approximately $760,000, significantly higher than the implied value of homes in 91933 based on its lower FMR. Similarly, average market rents across the MSA are likely to exceed $2830, making 91933 an outlier in terms of affordability.

While 91933 stands out as potentially offering better value to both landlords and tenants due to its lower FMR, the absence of comprehensive data on market rents and home values limits a definitive classification. It is advisable to use the available FMR data to inform decisions about property investments and management practices within this ZIP code, particularly for those interested in the Section 8 program.

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.