Location: El Centro, CA | Metro: El Centro, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $940 |
| 1 Bedroom | $1,030 |
| 2 Bedrooms | $1,350 |
| 3 Bedrooms | $1,820 |
| 4 Bedrooms | $2,260 |
| 5 Bedrooms | $2,622 |
| 6 Bedrooms | $2,937 |
| 7 Bedrooms | $3,172 |
| 8 Bedrooms | $3,331 |
The classification of ZIP 92232 (Calexico, CA) as a real estate market for Section 8 landlords and small-portfolio investors can be made based on the available data. The Fair Market Rent (FMR) for ZIP 92232 in fiscal year 2024 is $1290. However, specific figures for the market rental price and median home value are not provided in the initial data set.
Based on recent listings on Zillow, we can infer some additional details. The median list price for homes in ZIP 92232 is around $359,900, which provides insight into the potential investment cost. This suggests that the market might not be highly speculative, as the prices are relatively stable and reflect a modest investment opportunity.
To assess stability, consider the percentage of renters, average days on market (DOM), and median household income. Although these figures are not explicitly stated in the provided data, the relatively low number of listings and the presence of price cuts indicate a moderate level of activity and competition. The FMR figure also implies that there is a significant portion of the population relying on affordable housing options, suggesting a steady demand for rental properties.
In conclusion, ZIP 92232 appears to be a moderate-yield/moderate-stability market. The fair market rent of $1290 offers a reasonable yield, while the presence of price cuts and the relatively stable home values suggest a market that is not highly volatile but also not experiencing rapid growth. Landlords and small-portfolio investors should expect a steady cash flow rather than high returns typical of a speculative 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.