Section 8 Fair Market Rent (FMR) for ZIP 92195 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 92195, located in California, presents an interesting case for landlords and small-portfolio investors considering Section 8 tenants. With incomplete population data, it's challenging to provide a precise percentage of renters versus homeowners. However, the analysis of the median household income and market rents can offer valuable insights.

Given the Fair Market Rent (FMR) for ZIP 92195 is set at $2830 for fiscal year 2024, landlords can use this figure as a benchmark for rental pricing. The FMR represents the maximum amount that a Section 8 voucher holder can pay towards their rent, which is crucial for understanding the financial capabilities of potential tenants.

To connect income levels to market rent, consider that the median household income in this area is also not fully specified. Without concrete income data, it's difficult to determine exactly how much of the local income is consumed by typical rent. However, assuming the median household income is below the FMR, it suggests that a significant portion of the income could be dedicated to housing costs, making Section 8 vouchers particularly attractive to residents.

Landlords in ZIP 92195 should expect a tenant profile characterized by individuals and families who rely on government assistance to secure housing. These tenants will likely have a mix of employment statuses, including those working low-wage jobs and others who may be unemployed or underemployed. The reliance on Section 8 vouchers indicates a need for affordable housing, suggesting that landlords should focus on maintaining properties that meet HUD standards and provide value to these tenants.

In summary, ZIP 92195 appears to be an area with a strong demand for affordable housing, driven by the availability of Section 8 vouchers. Landlords should price their rentals close to the FMR of $2830 to attract and retain tenants who benefit from such programs. While specific percentages of income spent on rent cannot be calculated without complete data, the presence of a robust voucher system implies a substantial number of renters seeking affordable options. This environment calls for landlords to prepare for a tenant base that requires stable, safe, and affordable living conditions.

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.