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 | $2,120 |
| 1 Bedroom | $2,260 |
| 2 Bedrooms | $2,730 |
| 3 Bedrooms | $3,620 |
| 4 Bedrooms | $4,380 |
| 5 Bedrooms | $5,081 |
| 6 Bedrooms | $5,691 |
| 7 Bedrooms | $6,146 |
| 8 Bedrooms | $6,453 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 2BR | $2,730 | $481,703 | 0.57% | F |
| 3BR | $3,620 | $721,085 | 0.5% | F |
| 4BR | $4,380 | $797,781 | 0.55% | F |
| 5BR | $5,081 | $855,057 | 0.59% | F |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP code 92139, located in San Diego, CA, within San Diego County, are straightforward. The SAFMR (Section 8 Area Fair Market Rent) for a two-bedroom apartment is set at $2710 per month for the fiscal year 2024. This SAFMR figure is specifically tailored for this ZIP code, reflecting the unique rental dynamics of the area.
Local market rents, as measured by ZORI (Zillow Observed Rent Index), run higher at $3053 per month. This indicates that landlords who participate in the Section 8 program will receive less than the market rate for their properties. However, the SAFMR does not represent the total amount a landlord can expect from a voucher tenant. To understand the full payment, one must consider both the tenant's portion of the rent and any utility allowances.
A voucher holder typically pays 30% of their adjusted income towards rent. If we assume an average adjusted income of $1806.67 per month for a household eligible for a two-bedroom unit, the tenant would pay $542 in rent. The remaining balance, up to the SAFMR of $2710, is covered by the housing authority. Thus, the landlord would receive a base payment of $2168 ($2710 - $542).
In addition to the base rent, there are utility allowances. These vary but generally cover the cost of electricity, water, and gas. For ZIP 92139, the utility allowance is around $450 per month, which is also reimbursed by the housing authority. Therefore, the total reimbursement a landlord can expect is $2618 ($2168 + $450).
This leaves a reimbursement gap of $435 between the SAFMR plus utility allowance ($2618) and the local market rent ($3053). Landlords should be aware of this gap when considering participation in the Section 8 program. While the program ensures timely payments and reduces vacancy rates, it comes with the trade-off of receiving less than the market rate for their units.
To summarize, in ZIP 92139, a landlord can expect a total reimbursement of $2618 for a two-bedroom apartment under the Section 8 program, resulting in a monthly shortfall of $435 compared to the local market rent of $3053.
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.