Location: San Diego-Chula Vista-Carlsbad, CA | Metro: San Diego-Chula Vista-Carlsbad, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,150 |
| 1 Bedroom | $2,290 |
| 2 Bedrooms | $2,770 |
| 3 Bedrooms | $3,670 |
| 4 Bedrooms | $4,440 |
| 5 Bedrooms | $5,150 |
| 6 Bedrooms | $5,768 |
| 7 Bedrooms | $6,229 |
| 8 Bedrooms | $6,540 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 92179 in fiscal year 2024 is set at $2830. This figure represents the payment standard for Section 8 housing vouchers in your area, meaning it's the maximum amount the government will pay toward rent for a unit deemed suitable under the program. It's important to note that this does not directly reflect the actual rent you can charge tenants; rather, it caps the government contribution.
While the average market rent for ZIP 92179 is currently listed as N/A, the FMR provides a benchmark for assessing the viability of participating in the Section 8 program. If your property's rent is below $2830, you might consider adjusting it to maximize income within the allowed limits. However, if it exceeds this amount, you'll need to decide whether to lower your rent or risk having fewer potential tenants who qualify for assistance.
The percentage of renters in ZIP 92179 who could benefit from Section 8 vouchers is N/A%, indicating a significant demand for affordable housing options. This suggests that there is a pool of potential tenants who would be interested in your property if it meets the requirements for the program.
In terms of acquiring properties for Section 8 rentals, the typical price range in ZIP 92179 is N/A. This can help you estimate the initial investment needed to enter the market. However, the true value lies in understanding the long-term benefits and stability that Section 8 can bring to your portfolio.
Before deciding to accept Section 8 tenants, verify that your property meets the Housing Quality Standards (HQS) required by the program. These standards ensure that the property is safe and habitable, which is essential for both tenant satisfaction and compliance with federal guidelines.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
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.