Location: El Centro, CA | Metro: El Centro, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,000 |
| 1 Bedroom | $1,100 |
| 2 Bedrooms | $1,440 |
| 3 Bedrooms | $1,940 |
| 4 Bedrooms | $2,410 |
| 5 Bedrooms | $2,796 |
| 6 Bedrooms | $3,132 |
| 7 Bedrooms | $3,383 |
| 8 Bedrooms | $3,552 |
U.S. Census Bureau data (2024)
The ZIP code 92249 encompasses a suburban neighborhood characterized by a moderate population size of 7,312 residents. Renters make up a significant portion of the local housing market, accounting for 32.0% of all households. The area boasts a relatively high median income of $72,028, which positions it well above the national average. Additionally, the median home value in this ZIP code stands at $414,915, indicating a prosperous residential environment.
From an investment perspective, the rental economics in 92249 are particularly noteworthy. According to the Fair Market Rent (FMR) set by HUD for fiscal year 2024, the FMR for the area is $1,280. This figure is notably higher than the reported market rent of $1,086, based on Census ACS data. This discrepancy suggests that there could be opportunities for landlords and investors to increase rents closer to the FMR without significantly impacting occupancy rates.
The question then becomes whether this ZIP code is suitable for a hands-off voucher operator or requires a more active, value-add approach. Given the high median income and the potential to raise rents towards the FMR, 92249 appears to offer a balanced opportunity. For a hands-off operator, the existing demand for rental properties coupled with the relatively stable income levels means that managing Section 8 properties could be a straightforward and profitable endeavor. However, for a hands-on value-add buyer, the difference between the FMR and the current market rent presents a chance to improve property conditions and charge closer to the HUD-set rates, thereby increasing profitability.
In summary, ZIP 92249 provides a mix of stability and growth potential for Section 8 investors. Its demographic profile supports both passive and active management strategies, making it a viable option for a range of investment approaches.
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.