Section 8 Fair Market Rent (FMR) for ZIP 92046 - 2027

FY 2027 Fair Market Rent Rates

The situation in ZIP code 92046, located in California, presents unique challenges for both renters and landlords. Given the lack of specific median income data, it's critical to focus on the market rate and the housing voucher payment standards to understand affordability.

The Fair Market Rent (FMR) for ZIP 92046, as set by HUD for fiscal year 2024, is $2830. This figure represents the maximum amount a voucher holder can pay for rent, including utilities. Comparing this to the unknown market rate, it's evident that the actual cost of renting could significantly exceed the voucher payment standard, indicating a potential affordability gap for voucher holders.

With an unspecified percentage of renters in a population of unknown size, landlords must consider the competition and the financial capabilities of their tenants. If the market rate is higher than the voucher payment, landlords will face a choice between accepting vouchers at lower rates or seeking out cash-paying tenants who might be able to afford higher rents.

The takeaway for landlords is clear: if the market rate exceeds the $2830 FMR, accepting vouchers may reduce rental income but ensure steady tenancy and avoid vacancies. However, if the local economy supports higher incomes among renters, pursuing cash-paying tenants could yield better financial returns. Landlords should monitor local economic indicators and tenant demographics closely to make informed decisions.

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.