Location: El Centro, CA | Metro: El Centro, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $880 |
| 1 Bedroom | $970 |
| 2 Bedrooms | $1,270 |
| 3 Bedrooms | $1,720 |
| 4 Bedrooms | $2,120 |
| 5 Bedrooms | $2,459 |
| 6 Bedrooms | $2,754 |
| 7 Bedrooms | $2,974 |
| 8 Bedrooms | $3,123 |
U.S. Census Bureau data (2024)
The ZIP code 92273 presents an interesting scenario for both renters and landlords. The median income for households in this area stands at $62,051 according to recent Census ACS data. Given the market rate for rent is $1,100, it becomes evident that there is a significant financial burden on renters. To put this into perspective, a household earning the median income would spend approximately 22% of their monthly income on rent alone.
When comparing the market rate to the Fair Market Rent (FMR) set by the housing authority, which is $1,170 for ZIP 92273 in fiscal year 2024, we see that the market rate is slightly below the FMR. This means that landlords who accept Section 8 vouchers could potentially receive higher rent payments than the current market rate, making voucher acceptance a financially viable option.
In ZIP 92273, where 50.9% of the 1,090 residents are renters, the affordability gap poses a challenge. Many renters might struggle to pay the market rate without assistance, leading to increased competition among landlords for tenants who can afford to pay cash. However, those willing to accept vouchers could attract a different segment of the rental market—tenants who benefit from government assistance.
The takeaway for landlords is clear: accepting Section 8 vouchers can be a strategic move to ensure a steady stream of rental income. It allows them to tap into a pool of tenants who might otherwise be priced out of the market. Additionally, the voucher payment standard aligns closely with the FMR, providing a reasonable rate that covers the cost of maintaining rental properties. Landlords should weigh the benefits of guaranteed income against the administrative complexities of participating in the voucher program.
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.