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 |
U.S. Census Bureau data (2024)
The analysis of ZIP code 92161 within the San Diego-Chula Vista-Carlsbad, CA MSA reveals several key points for landlords and small-portfolio investors.
Firstly, regarding the rent math, the Fair Market Rent (FMR) for the area is set at $3,000 for fiscal year 2026. However, the market rent is currently listed as N/A, which suggests that there isn't enough data available to make a direct comparison. This means that while landlords can aim for the FMR benchmark, they should also consider local market conditions to ensure the rent math works effectively.
In terms of acquisition affordability, the median home value and days on market (DOM) are both listed as N/A, indicating incomplete data. The percentage of homes needing price cuts is also N/A, making it difficult to assess how affordable it is to acquire properties in this area. Landlords should conduct further research to understand the current market dynamics and property pricing trends.
Concerning tenant demand, the ZIP code has a population of 29, but the percentage of renters is listed as N/A. Given such a small population base, it's crucial to know the exact number of renters to gauge demand accurately. Without this figure, it's challenging to predict if there will be sufficient tenants interested in renting properties at the FMR rate.
Verdict: While the FMR provides a clear target for rental pricing, the lack of detailed market data for ZIP 92161 makes it difficult to fully evaluate acquisition costs and tenant demand. Landlords and investors must gather more comprehensive local information before making investment decisions in this area.
Data Sources: FMR data from HUD (2027). 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.