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 | $3,280 |
| 1 Bedroom | $3,500 |
| 2 Bedrooms | $4,230 |
| 3 Bedrooms | $5,610 |
| 4 Bedrooms | $6,780 |
| 5 Bedrooms | $7,865 |
| 6 Bedrooms | $8,809 |
| 7 Bedrooms | $9,514 |
| 8 Bedrooms | $9,990 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $3,500 | $1,427,498 | 0.25% | F |
| 2BR | $4,230 | $2,035,256 | 0.21% | F |
| 3BR | $5,610 | $2,632,089 | 0.21% | F |
| 4BR | $6,780 | $3,515,717 | 0.19% | F |
| 5BR | $7,865 | $4,988,383 | 0.16% | F |
U.S. Census Bureau data (2024)
ZIP 92118, located in Coronado, California, is characterized by a significant rental population, with 45.4% of residents being renters. This indicates that the area has a notable demand for rental housing, which can be beneficial for landlords looking to attract tenants. However, the median household income of $134,534 suggests that this ZIP code is relatively affluent compared to other areas in the country.
The market rent in ZIP 92118 stands at $5,378, which represents approximately 4% of the median household income. This implies that typical rents are well within the financial reach of most residents, making it less likely for there to be a deep voucher demand. In comparison, the Fair Market Rent (FMR) for the area, set at $4,210 for FY 2024, is lower than the current market rent, indicating that the actual rental prices may exceed the federally determined fair market rates.
A landlord in this ZIP code should anticipate a tenant profile that is financially stable and capable of paying higher rents without the need for government assistance. Tenants here are likely to be professionals or individuals who have established themselves in the community, given the high median income levels. While some may still qualify for Section 8 vouchers, the overall demand for such assistance is expected to be lower due to the economic conditions of the area.
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.