Location: San Diego-Chula Vista-Carlsbad, CA | Metro: San Diego-Chula Vista-Carlsbad, CA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $3,240 |
| 1 Bedroom | $3,450 |
| 2 Bedrooms | $4,170 |
| 3 Bedrooms | $5,530 |
| 4 Bedrooms | $6,690 |
| 5 Bedrooms | $7,760 |
| 6 Bedrooms | $8,691 |
| 7 Bedrooms | $9,386 |
| 8 Bedrooms | $9,855 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $3,450 | $978,420 | 0.35% | F |
| 2BR | $4,170 | $1,680,698 | 0.25% | F |
| 3BR | $5,530 | $2,766,271 | 0.2% | F |
| 4BR | $6,690 | $3,485,158 | 0.19% | F |
| 5BR | $7,760 | $4,413,196 | 0.18% | F |
U.S. Census Bureau data (2024)
The market in ZIP 92014, located in San Diego, CA, is characterized by strong rental demand. With a Fair Market Rent (FMR) set at $4250 for fiscal year 2024 and a market rent of $6,248 as indicated by the Zillow Observed Rent Index (ZORI), it's evident that rental prices are significantly above the government's benchmark. This suggests that the local rental market is robust and likely experiencing upward pressure on rents.
The low price-cut share of 0.2% implies that landlords and property owners are not frequently lowering their asking prices, indicating a seller's market where properties can be rented at or near the initial asking rate. The median home value stands at $2,820,651, reflecting a high-value residential area where homeownership is expensive and potentially out of reach for many renters.
A notable 27.3% of residents are renters, which points to a significant portion of the population relying on the rental market. In a high-cost area like San Diego, this renter share suggests ongoing long-term housing pressure, as a substantial number of individuals and families cannot afford to purchase homes. Instead, they depend on rental units, creating a consistent demand for rental properties.
The dynamics in ZIP 92014 indicate that demand for rentals is likely outpacing supply, driven by both the high cost of homeownership and the concentration of renters. Landlords and small-portfolio investors should anticipate a competitive rental market where maintaining quality and pricing close to the ZORI will be key to attracting tenants.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.