Section 8 Fair Market Rent (FMR) for ZIP 92191 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 92191, located within the San Diego-Chula Vista-Carlsbad, CA Metropolitan Statistical Area (MSA), can serve as a cash-flow anchor in a Section 8 portfolio strategy. The Fair Market Rent (FMR) for ZIP 92191 in fiscal year 2024 is set at $2,830, which is notably higher than the typical market rents seen in some of the surrounding areas. This means that landlords participating in the Section 8 program can expect to receive rental payments that closely match or exceed the actual market rates.

To illustrate, consider a property listed for sale at $1,395,000 with 4 bedrooms and 3 bathrooms. While this represents a significant investment, the high FMR ensures that the rental income will be sufficient to cover mortgage payments, maintenance, and other expenses, leading to positive cash flow. This is particularly advantageous given the lack of recent sales data indicating a median home value, as it suggests that the rental income can act as a stabilizing factor against potential market fluctuations.

The absence of specific market rent and median home value figures underscores the importance of relying on government-set FMRs for this ZIP code. Given the high FMR, landlords can confidently invest in properties here, knowing that the guaranteed rent will provide a solid foundation for their portfolio. This makes ZIP 92191 a reliable choice for those seeking to maintain steady cash flows within their real estate investments.

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.