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 | $2,460 |
| 1 Bedroom | $2,620 |
| 2 Bedrooms | $3,170 |
| 3 Bedrooms | $4,200 |
| 4 Bedrooms | $5,080 |
| 5 Bedrooms | $5,893 |
| 6 Bedrooms | $6,600 |
| 7 Bedrooms | $7,128 |
| 8 Bedrooms | $7,484 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,620 | $805,680 | 0.33% | F |
| 2BR | $3,170 | $1,106,185 | 0.29% | F |
| 3BR | $4,200 | $1,701,416 | 0.25% | F |
| 4BR | $5,080 | $2,227,422 | 0.23% | F |
| 5BR | $5,893 | $2,739,184 | 0.22% | F |
U.S. Census Bureau data (2024)
ZIP code 92107, located in the heart of San Diego, CA, falls within the larger San Diego-Chula Vista-Carlsbad, CA Metropolitan Statistical Area (MSA). To understand its position relative to other ZIP codes in the same MSA, we can examine its Fair Market Rent (FMR), market rent, home values, and renter share.
The Fair Market Rent for ZIP 92107 in fiscal year 2024 is set at $3010. This figure is higher than the typical FMR for the broader MSA, indicating that it is a premium sub-market. The market rent of $2,786 also exceeds the average for the region, further supporting the classification of 92107 as a premium area.
Average home values in ZIP 92107 stand at $1,479,715, which is significantly above the median home value for the entire San Diego-Chula Vista-Carlsbad MSA. This high valuation suggests that 92107 is an upscale neighborhood, likely attracting higher-income residents who can afford both the high rents and home values.
The renter share in ZIP 92107 is 62.3%, which is notably higher than the average for the MSA. Typically, a higher renter share indicates a greater demand for rental properties. However, given the premium nature of the ZIP's housing market, this high renter share does not necessarily signal a Section 8 sweet spot. Instead, it reflects a diverse mix of renters, including those who may be priced out of homeownership due to the high costs of living in the area.
To summarize, ZIP 92107 is positioned as a premium sub-market within the San Diego-Chula Vista-Carlsbad MSA. Its high FMR, market rent, and home values indicate a strong and expensive housing market, while the elevated renter share points to robust demand for rentals. These characteristics make it less likely to be a value pocket or mid-tier neighborhood, but rather a high-end location favored by investors seeking to capitalize on luxury rental opportunities.
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.