Section 8 Fair Market Rent (FMR) for ZIP 92159 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 housing in ZIP code 92159, located within San Diego-Chula Vista-Carlsbad County, California, are defined by the SAFMR (Small Area Fair Market Rent) for a two-bedroom apartment, which is set at $2830 per month for fiscal year 2024. This SAFMR figure is specific to this ZIP code, reflecting the localized cost of renting in the area.

To understand what a landlord can expect from a Section 8 voucher, it's essential to break down the components of the payment. The total rent is split into two parts: the tenant's contribution and the government subsidy. The tenant's portion is generally 30% of their adjusted income, plus any applicable utility allowances. For ZIP 92159, the utility allowance for a two-bedroom unit is $400 per month, which covers the tenant's electricity, gas, water, and sewer costs.

A voucher holder in ZIP 92159 will pay their share of the rent, typically around 30%, and the government will cover the remainder up to the SAFMR limit. For instance, if a tenant's adjusted income is $2000 per month, they would contribute $600 towards the rent. The government would then pay the difference between the tenant's contribution and the SAFMR, minus the utility allowance. In this case, the government subsidy would be $2230 ($2830 - $600), and the total rent received by the landlord would be $2630 ($2230 + $400).

This structure ensures that landlords receive a predictable and stable income, even if the local market rent is higher. However, it also means that landlords must ensure their rental properties meet the Housing Quality Standards (HQS) set by the Department of Housing and Urban Development (HUD) to qualify for Section 8 payments.

In ZIP 92159, where the SAFMR for a two-bedroom apartment is $2830, landlords can expect a reimbursement gap if the local market rent exceeds this amount. Conversely, if the market rent is lower, there might be a surplus. Given that the local market rent data is currently unavailable, we cannot provide a precise surplus or gap figure. However, landlords should compare their property's market value to the SAFMR to determine the potential financial impact.

For a two-bedroom apartment in ZIP 92159, the typical reimbursement gap or surplus would be the difference between the actual market rent and the $2830 SAFMR, adjusted for the tenant's contribution and utility allowance. Landlords must carefully assess their property's value against these figures to make informed decisions about participating in the Section 8 program.

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.