Section 8 Fair Market Rent (FMR) for ZIP 92171 - 2027

FY 2027 Fair Market Rent Rates

The economics of Section 8 in ZIP code 92171, located in San Diego-Chula Vista-Carlsbad County, California, operate under the Single Area Fair Market Rent (SAFMR) system, which sets the rate specifically for this ZIP code. For a two-bedroom apartment, the SAFMR for fiscal year 2024 is set at $2830. This figure represents the maximum amount that a landlord can receive from the housing authority for a Section 8 voucher.

To understand how much a landlord will actually be paid, it's important to break down the components of the voucher payment. The total rent is divided into two parts: the tenant's portion and the government's portion. The tenant is required to pay 30% of their adjusted income towards rent, and this amount is deducted from the total rent. The remainder, up to the SAFMR limit, is then covered by the housing authority.

In addition to the base rent, there are utility allowances. These allowances vary based on the size of the unit and the region but do not directly affect the voucher reimbursement to the landlord. They are intended to help cover the tenant's utility costs, ensuring that the total housing expense remains reasonable.

Let's consider an example to illustrate the reimbursement process. If a tenant's adjusted income is $2000 per month, they would be expected to contribute 30%, or $600, toward the rent. With a SAFMR of $2830, the housing authority would cover the difference, up to this limit. Therefore, the landlord would receive $2230 from the housing authority, bringing the total reimbursement to $2830.

However, the local market rent for ZIP 92171 is currently listed as N/A, indicating that there is no available data on the average rental rates for this area. This absence of data makes it challenging to provide a precise comparison between the SAFMR and the market rent. Nonetheless, if the market rent were higher than the SAFMR, landlords would face a reimbursement gap. Conversely, if the market rent were lower, landlords might experience a surplus where the voucher covers more than the market rate.

Given the SAFMR of $2830 for a two-bedroom unit, landlords should ensure that their rental properties are priced appropriately to maximize the benefits of participating in the Section 8 program. By aligning their rents with the SAFMR, landlords can avoid any potential gaps while still providing affordable housing options to eligible 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.