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 |
U.S. Census Bureau data (2024)
ZIP 92092, located in La Jolla, California, offers a high yield for Section 8 landlords, particularly for two-bedroom units. In fiscal year 2024, the Fair Market Rent (FMR) for a two-bedroom unit in this ZIP code is $2,830. This figure represents a significant increase from previous years; for instance, in 2021, the FMR for a two-bedroom unit was $2,120.
The lack of specific data on market values and home values suggests a focus on rental income rather than flipping properties. Additionally, without precise figures on the percentage of renters, days on market, and median income, it's challenging to fully assess the stability of the market. However, the substantial rise in FMRs indicates a robust rental market.
Given the available data, ZIP 92092 appears to be a steady-cashflow zone. The high rental prices ensure a good income stream for landlords, and the absence of significant instability factors suggests that tenants are likely to maintain regular payments. For a two-bedroom unit, the FMR has increased by over $700 since 2021, making it a lucrative area for landlords willing to accept Section 8 vouchers.
Data Sources: FMR data from HUD (2027). 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.