Location: San Diego-Chula Vista-Carlsbad, CA | Metro: San Diego-Chula Vista-Carlsbad, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,190 |
| 1 Bedroom | $2,330 |
| 2 Bedrooms | $2,820 |
| 3 Bedrooms | $3,740 |
| 4 Bedrooms | $4,520 |
| 5 Bedrooms | $5,243 |
| 6 Bedrooms | $5,872 |
| 7 Bedrooms | $6,342 |
| 8 Bedrooms | $6,659 |
The ZIP code 92074, located within the San Diego-Chula Vista-Carlsbad, CA MSA, has a Fair Market Rent (FMR) of $2830 for fiscal year 2024. This figure is a key indicator of the rental market's affordability in this area. To contextualize this number, it's important to understand how it compares to other ZIP codes within the same metro.
In the San Diego-Chula Vista-Carlsbad MSA, typical FMRs can vary widely depending on the neighborhood, but generally, they range from about $1500 to over $3500 per month. Given that the FMR for ZIP 92074 is $2830, it suggests that this area falls into the mid-tier neighborhood category. It's neither the most affordable nor the most expensive part of the metro.
The lack of specific data on market rent and home values for ZIP 92074 makes it challenging to provide a detailed comparison with other ZIP codes. However, since the FMR is a government-determined figure used to set limits on housing assistance programs like Section 8, it's a reliable metric for gauging the general cost of living in the area.
Absent data on the renter share percentage, we cannot definitively state whether 92074 is a Section 8 sweet spot. Typically, a high renter share combined with below-average home values indicates a value pocket for landlords participating in the Section 8 program. Conversely, if the renter share is low and home values are above average, it might suggest a premium sub-market.
To summarize, based on the FMR of $2830, ZIP 92074 appears to be a mid-tier neighborhood within the San Diego-Chula Vista-Carlsbad MSA. It offers a balanced rental price point without significant divergence in known metrics that would clearly indicate it as either a value pocket or a premium sub-market. Further investigation into market rents and home values could provide additional clarity on its positioning within the broader metro area.
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.