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 | $2,350 |
| 1 Bedroom | $2,510 |
| 2 Bedrooms | $3,030 |
| 3 Bedrooms | $4,020 |
| 4 Bedrooms | $4,860 |
| 5 Bedrooms | $5,638 |
| 6 Bedrooms | $6,315 |
| 7 Bedrooms | $6,820 |
| 8 Bedrooms | $7,161 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $3,030 | $727,630 | 0.42% | F |
| 3BR | $4,020 | $1,019,264 | 0.39% | F |
| 4BR | $4,860 | $1,322,365 | 0.37% | F |
| 5BR | $5,638 | $1,685,420 | 0.33% | F |
U.S. Census Bureau data (2024)
The ZIP code 92029, located in Escondido, CA, stands out within San Diego County due to its unique data profile. With a population of 20,726 residents, 26.8% of whom rent their homes, it reflects a community that is predominantly owner-occupied. The median income in this area is $124,726, indicating a relatively affluent neighborhood. However, the median home value of $1,177,984 sets it apart as having some of the highest property values in the region.
Moving to the specifics of Section 8 housing assistance, the Fair Market Rent (FMR) for ZIP 92029 for fiscal year 2024 is set at $3,260. This figure represents the benchmark used by the U.S. Department of Housing and Urban Development (HUD) to determine the maximum amount of rental assistance that can be paid on behalf of a tenant. In contrast, the actual market rent, as measured by the Zillow Observed Rent Index (ZORI), is $2,641. This suggests that landlords participating in the Section 8 program in Escondido can expect higher rents compared to the average market rate, making it an attractive option for those seeking stable rental income.
The data signature for ZIP 92029 reads as stable. The high median home value indicates a strong real estate market, while the above-average median income supports a robust economic foundation. The relatively low percentage of renters also points towards a community where homeownership is prevalent, which typically correlates with lower turnover rates and more predictable rental demand. For landlords and small-portfolio investors, this stability means that properties in this ZIP code can be expected to maintain their value and provide consistent returns.
To summarize, ZIP 92029 offers a favorable environment for Section 8 landlords, with a higher FMR compared to the local market rent, ensuring competitive rental income. The overall economic indicators suggest a stable market, conducive to long-term investment strategies.
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.