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 92165, located within the San Diego-Chula Vista-Carlsbad, CA MSA, has a Fair Market Rent (FMR) of $2830 for fiscal year 2024. This figure provides insight into the rental affordability in the area, but without specific market rent data, it's challenging to make a direct comparison to other ZIP codes within the metro. However, we can infer some characteristics based on the available information.
The FMR of $2830 suggests that 92165 is likely a value pocket within the broader San Diego-Chula Vista-Carlsbad MSA. The overall MSA typically sees higher market rents, especially in more desirable areas. With an FMR lower than many other ZIPs in the region, 92165 stands out as potentially offering more affordable rental options compared to the average.
While the home values and renter share percentages for ZIP 92165 are not available, the absence of these figures can also be indicative of certain trends. For instance, if the home values were significantly below the metro average, this could suggest a less affluent neighborhood, which might still attract renters due to its affordability. Similarly, a high renter share percentage, even though not provided, would indicate a strong demand for rentals, potentially making it a sweet spot for Section 8 housing.
In conclusion, based on the FMR of $2830, ZIP 92165 appears to be a value pocket within the San Diego-Chula Vista-Carlsbad MSA. Landlords and small-portfolio investors should consider this ZIP code as an area where they can offer competitive rental prices while still being part of a larger, economically vibrant metro region. The lack of market rent and home value data suggests a need for further investigation to fully understand the investment potential, but the existing FMR data points towards a location that could be advantageous for those seeking to manage properties at a price point accessible to a broader range of tenants.
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.