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 | $3,110 |
| 1 Bedroom | $3,320 |
| 2 Bedrooms | $4,010 |
| 3 Bedrooms | $5,320 |
| 4 Bedrooms | $6,430 |
| 5 Bedrooms | $7,459 |
| 6 Bedrooms | $8,354 |
| 7 Bedrooms | $9,022 |
| 8 Bedrooms | $9,473 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $3,320 | $494,445 | 0.67% | D |
| 2BR | $4,010 | $685,675 | 0.58% | F |
| 3BR | $5,320 | $978,084 | 0.54% | F |
| 4BR | $6,430 | $1,264,167 | 0.51% | F |
| 5BR | $7,459 | $1,320,008 | 0.57% | F |
U.S. Census Bureau data (2024)
3840 is the Fair Market Rent (FMR) for ZIP code 92124 in San Diego, CA, for fiscal year 2024. 3053 represents the actual market rent (ZORI), indicating a slight premium landlords can charge over the government-set rates. The median home value in this area stands at 1071010, reflecting a high-value residential market. 53.5% of the population are renters, showing a significant demand for rental properties. With a median income of 120201, residents have the financial capability to meet these rental costs. Despite the high median home value, only 0.1% of listings experience price cuts, suggesting strong market stability and confidence among sellers. This combination of factors—high median incomes, substantial rental demand, and stable property values—positions ZIP 92124 favorably for landlords and small-portfolio investors. However, the absence of data on days on market (DOM) means we cannot assess how quickly properties are typically leased or sold. In conclusion, for those considering Section 8 participation, the numbers indicate that while the program's rental rate of 3840 is below the market rent of 3053, the overall robustness of the local real estate market supports the viability of accepting Section 8 tenants.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.