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 | $1,950 |
| 1 Bedroom | $2,080 |
| 2 Bedrooms | $2,510 |
| 3 Bedrooms | $3,330 |
| 4 Bedrooms | $4,050 |
| 5 Bedrooms | $4,698 |
| 6 Bedrooms | $5,262 |
| 7 Bedrooms | $5,683 |
| 8 Bedrooms | $5,967 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,080 | $540,923 | 0.38% | F |
| 2BR | $2,510 | $593,949 | 0.42% | F |
| 3BR | $3,330 | $769,653 | 0.43% | F |
| 4BR | $4,050 | $906,528 | 0.45% | F |
| 5BR | $4,698 | $1,120,347 | 0.42% | F |
U.S. Census Bureau data (2024)
ZIP 92065, located in Ramona, CA, within the San Diego-Chula Vista-Carlsbad, CA MSA, offers a compelling opportunity for inclusion in a Section 8 portfolio strategy. This area stands out as an appreciation play due to its low price-cut share and relatively short days on market (DOM).
The Federal Market Rent (FMR) for ZIP 92065 in fiscal year 2024 is set at $2780, which is significantly higher than the current market rent of $2,220. This spread indicates that landlords participating in the Section 8 program can expect to receive a higher rental income compared to the local market rate, thus providing a financial buffer against potential maintenance costs and vacancies.
Furthermore, the median home value in ZIP 92065 is $812,884, reflecting a stable and potentially growing real estate market. With only a 0.2% price-cut share, it's evident that properties in this area maintain their value well, seldom requiring reductions in asking price to attract tenants. Additionally, the average DOM of 42 days suggests a robust demand for housing, allowing properties to be leased quickly without prolonged vacancy periods.
While the median income of $125,285 and a 21.6% renter share indicate a diverse economic profile, these factors alone do not define the primary investment thesis for including ZIP 92065 in a Section 8 portfolio. Instead, the focus should be on the appreciation potential and the strong performance metrics that suggest a resilient real estate market.
In conclusion, ZIP 92065 is best suited as an appreciation play within a Section 8 portfolio strategy. Its high FMR relative to market rent, low price-cut share, and quick leasing times make it a valuable addition for investors looking to capitalize on property value growth while maintaining steady cash flows.
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.