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 92172 is located within the San Diego-Chula Vista-Carlsbad, CA Metropolitan Statistical Area (MSA). The Fair Market Rent (FMR) for 92172 in fiscal year 2024 is set at $2830. This figure provides insight into the rental affordability standards for the area but does not directly reflect market rents, which are currently not available for this ZIP code.
Comparatively, the FMR for the entire San Diego-Chula Vista-Carlsbad, CA MSA tends to be higher, reflecting the overall cost of living and housing in the broader region. Given that the market rent and home values are not provided for 92172, it's challenging to definitively classify the ZIP code as either a value pocket, a mid-tier neighborhood, or a premium sub-market within its metro. However, the absence of market rent data could imply that 92172 has lower rental activity or fewer recorded transactions compared to other ZIP codes in the MSA.
The lack of home value data also suggests limited information on the real estate market in 92172, possibly indicating that it is less developed or has fewer single-family homes compared to other areas. Additionally, the percentage of renters in the ZIP code is not specified, which would have been useful for understanding the local housing dynamics.
Based on the provided data, we can infer that 92172 likely represents a value pocket within the San Diego-Chula Vista-Carlsbad, CA MSA. This classification is supported by the lower FMR compared to the typical rates seen across the larger metropolitan area. However, without specific market rent and home value figures, this conclusion is based solely on the FMR and should be interpreted with caution. For landlords and small-portfolio investors, 92172 could present an opportunity to serve a segment of the rental market that is price-sensitive, aligning well with Section 8 programs where affordability is a key consideration.
To make a more informed decision, it would be beneficial to gather additional data on market rents and home values in 92172. Such information would help clarify whether the ZIP code indeed offers a unique value proposition within its metro, or if there are other factors at play that affect the local real estate market.
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.