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 | $2,810 |
| 1 Bedroom | $3,000 |
| 2 Bedrooms | $3,630 |
| 3 Bedrooms | $4,810 |
| 4 Bedrooms | $5,810 |
| 5 Bedrooms | $6,740 |
| 6 Bedrooms | $7,549 |
| 7 Bedrooms | $8,153 |
| 8 Bedrooms | $8,561 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $3,630 | $2,724,377 | 0.13% | F |
| 3BR | $4,810 | $3,437,808 | 0.14% | F |
| 4BR | $5,810 | $4,288,229 | 0.14% | F |
| 5BR | $6,740 | $5,884,655 | 0.11% | F |
U.S. Census Bureau data (2024)
The Section 8 program's viability in ZIP code 92067, Rancho Santa Fe, CA, is determined by the disparity between the Fair Market Rent (FMR) and the actual market rent. For fiscal year 2024, the FMR is set at $3680, while the Census American Community Survey (ACS) reports the average market rent at $3,501. This indicates that the FMR is $179 higher than the market rent, representing an increase of approximately 5.1%. In this scenario, where the FMR exceeds the market rent, landlords can leverage this gap to achieve a positive yield play.
Voucher tenants under the Section 8 program provide a guaranteed income stream due to the federal government subsidizing the difference between the FMR and the tenant's portion of the rent. Given that the FMR is above the market rent, landlords can expect to receive the full FMR amount, which is $3680 per unit. This ensures that even in a high-end area like Rancho Santa Fe, where the median home value stands at $4,657,065 and the median income is $187,054, landlords can still secure a profitable rental yield.
The low rental rate penetration of only 6.1% further supports the attractiveness of Section 8 for landlords. With such a small percentage of residents租房 vouchers对于房东来说非常有吸引力。在租金渗透率仅为6.1%的地区，提供Section 8项目的房产可以确保稳定的收入来源。此外，由于联邦政府补贴了市场租金与租户支付部分之间的差额，即使市场租金低于FMR（$3680），房东也能收到全额的FMR租金。
这种分析基于拉霍圣塔菲（Rancho Santa Fe）的背景，该地区的中位房价为$4,657,065，中位收入为$187,054。尽管这些数字表明这是一个高端市场，但Section 8项目为小规模投资组合的投资者和房东提供了一个机会，可以在不降低租金的情况下吸引租户，并获得稳定的现金流。
请注意，上述内容已经尽可能地按照要求进行了翻译，但由于原始文本是HTML格式，且要求避免使用标题标签和其他特定格式，因此在中文翻译中我仅保留了段落结构，未使用HTML标签。如果需要严格遵循HTML格式，请告知以便进行相应调整。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.