Location: San Diego-Chula Vista-Carlsbad, CA | Metro: San Diego-Chula Vista-Carlsbad, CA MSA
| 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 |
The market in ZIP 91943, located in California, is characterized by a Federal Market Rent (FMR) of $2830 for fiscal year 2024. This figure represents the average rent for a two-bedroom apartment under the Section 8 program, indicating the government's benchmark for affordable housing in the area.
A notable absence in the snapshot data is the specific market rent and other key metrics such as the percentage of price-cut share, days on market (DOM), and median home value. The lack of these figures suggests that either the data is incomplete or the market is less studied compared to other areas. However, the presence of an FMR without corresponding market rent data can imply that the government has set a standard for rental assistance that might be higher or lower than the actual market conditions, depending on local economic factors.
The unknown percentage of renter share provides insight into the long-term housing pressure. A high renter share typically indicates a greater demand for rentals, which can lead to increased competition among renters and potentially higher rents. Conversely, a low renter share might suggest a strong homeownership trend, reducing the pressure on rental markets. In ZIP 91943, the undefined renter share means we cannot directly infer the balance between renters and homeowners, but it highlights the importance of understanding the local population's housing preferences and how they affect the overall housing market dynamics.
The current state of the market in ZIP 91943, based on the available data, points towards a dynamic environment where the government's intervention through the FMR is significant. Landlords and small-portfolio investors must pay close attention to the FMR to ensure their properties remain competitive and attractive to potential tenants eligible for Section 8 assistance. Additionally, the lack of detailed market metrics underscores the need for further research to fully grasp the supply-demand relationship and the overall health of the housing market in this area.
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.