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 92166, located within the San Diego-Chula Vista-Carlsbad, CA MSA, has a Fair Market Rent (FMR) of $2830 for fiscal year 2024. This figure represents the rental price standard set by HUD for determining eligibility for housing assistance programs such as Section 8.
In comparison to other ZIP codes within the same MSA, the lack of specific market rent and home value data for 92166 makes it difficult to draw direct comparisons. However, based on the available FMR, we can infer some trends. The FMR for 92166 is lower than the average market rents seen in many areas of San Diego, which typically range from $2900 to over $3000 for a two-bedroom apartment, depending on the exact location within the city.
The absence of data regarding home values and renter share percentages suggests that 92166 might be less desirable or less documented compared to other parts of the metro area. Typically, ZIP codes with higher renter shares and lower home values indicate areas where Section 8 vouchers are more prevalent, making them attractive for landlords seeking stable tenants through government assistance.
Given the FMR of $2830, ZIP 92166 appears to be a value pocket within the San Diego-Chula Vista-Carlsbad MSA. This means that while it may not offer the highest returns or luxury amenities, it provides an opportunity for landlords to attract tenants who benefit from the lower threshold for housing assistance. The lower FMR could also imply that there is less competition for properties, potentially offering a niche market for landlords willing to cater to this segment of the population.
To conclude, 92166 stands out as a value pocket due to its relatively low FMR compared to other ZIP codes within the MSA. While definitive conclusions about its market position cannot be drawn without additional data, the existing information points towards a neighborhood well-suited for landlords interested in leveraging Section 8 vouchers to secure steady occupancy.
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.