Section 8 Fair Market Rent (FMR) for ZIP 92193 - 2027

FY 2027 Fair Market Rent Rates

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

Based on the available data, the median household income in Serra Mesa, San Diego, CA is approximately $96,964. However, this figure represents the broader San Diego County rather than the specific ZIP code 92193. The average rent for a two-bedroom apartment in Serra Mesa is around $3,003 per month, according to RentCafe.

The Federal Payment Standard (FPM) for ZIP code 92193 is set at $2,830 for fiscal year 2024. This means that a household receiving a housing voucher would have a maximum allowable rent of $2,830. Given the average rent of $3,003 for a two-bedroom apartment, there is a significant gap between the voucher payment standard and the actual market rate.

This gap suggests that households relying solely on vouchers might struggle to find suitable rental properties in Serra Mesa. Landlords in this area face competition from those who can offer higher rents, especially when compared to the voucher limit.

Takeaway for landlords: If considering voucher versus cash-pay strategies, landlords must weigh the benefits of steady government payments against the potential for higher rent from cash-paying tenants. Given the current market conditions, cash-paying tenants are likely to offer more competitive rent rates, but the decision should also consider the stability and long-term relationships that can come with voucher programs.

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.