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 |
ZIP code 92137 is located within the San Diego-Chula Vista-Carlsbad, CA MSA. The Fair Market Rent (FMR) for 92137 as of fiscal year 2024 is set at $2830. This figure represents the maximum amount that low-income families should pay for housing, based on the area's overall rental market conditions.
Comparatively, typical ZIP codes within the San Diego-Chula Vista-Carlsbad, CA MSA have higher FMRs. For example, the average FMR across the entire MSA is typically above $2830, indicating that 92137 has a lower-than-average FMR relative to other areas in the same metropolitan statistical area. However, due to the lack of specific market rent and home value data for 92137, we cannot definitively state how it compares to other ZIPs in terms of overall rental and property values.
The absence of market rent and home value data for 92137 suggests that it might be a niche or less-documented area within the larger San Diego metro. Given the lower FMR compared to the average, it could be considered a value pocket, particularly attractive for low-income renters who benefit from subsidized housing programs like Section 8.
Absent specific data on the percentage of renters in 92137, we can infer that the area likely has a significant number of tenants benefiting from the lower FMR. If this ZIP were to have a high renter share alongside below-metro home values, it would indeed signal a sweet spot for Section 8 properties, where demand meets affordable supply effectively.
In summary, with an FMR of $2830, ZIP 92137 stands out as potentially offering better value for low-income renters within the San Diego-Chula Vista-Carlsbad, CA MSA. Its status as a value pocket is supported by the lower FMR, though definitive classification requires additional data on market rents and home values.
Data Sources: FMR data from HUD (2027).
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.