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 | $2,520 |
| 1 Bedroom | $2,690 |
| 2 Bedrooms | $3,250 |
| 3 Bedrooms | $4,310 |
| 4 Bedrooms | $5,210 |
| 5 Bedrooms | $6,044 |
| 6 Bedrooms | $6,769 |
| 7 Bedrooms | $7,311 |
| 8 Bedrooms | $7,677 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,690 | $442,278 | 0.61% | D |
| 2BR | $3,250 | $667,608 | 0.49% | F |
| 3BR | $4,310 | $1,356,750 | 0.32% | F |
| 4BR | $5,210 | $1,656,205 | 0.31% | F |
| 5BR | $6,044 | $1,974,606 | 0.31% | F |
U.S. Census Bureau data (2024)
The ZIP code 92110 in San Diego, CA stands out due to its significant rental population and high median home values. With 30,902 residents, 63.3% are renters, indicating a strong demand for rental properties. The median household income in 92110 is $110,790, which is notably higher than the national average, supporting a robust local economy. However, the median home value of $1,010,113 suggests that homeownership is predominantly out of reach for the majority of residents, further emphasizing the importance of rental housing.
For landlords and small-portfolio investors, understanding the dynamics of Section 8 vouchers is crucial. The Fair Market Rent (FMR) for ZIP 92110 for fiscal year 2024 is set at $3,040, while the market rent, as measured by Zillow's Rent Index (ZORI), is $2,903. This indicates that the FMR slightly exceeds the market rate, making Section 8 vouchers particularly attractive for landlords in this area. The higher FMR can help offset potential maintenance costs and vacancy periods, ensuring a steady stream of income.
The data signature for ZIP 92110 reads as stable. The high median income and significant rental population suggest a consistent demand for rental properties, even if the cost of living is relatively high. While the median home value is exceptionally high, it does not impact the rental market directly. Instead, it underscores the economic strength of the area, which benefits both landlords and tenants. For small-portfolio investors, this stability means that there is less risk associated with property investments in this ZIP code, as long-term rental income is likely to remain steady.
Investors should take note of the slight premium offered by Section 8 vouchers over the market rate. This can be a strategic advantage when considering the overall investment landscape in 92110. Despite the high home values, the rental market remains vibrant, offering opportunities for those willing to participate in the Section 8 program. The combination of a strong local economy and a supportive rental environment makes ZIP 92110 an appealing choice for real estate investments, especially for those looking to diversify their portfolio with government-backed rental agreements.
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.