Section 8 Fair Market Rent (FMR) for ZIP 92413 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 92413 in fiscal year 2024 is set at $1940. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program, known officially as the Housing Choice Voucher Program. It's important to note that this is not the actual rent you will receive; it's the payment standard used by the housing authority to determine how much they will contribute towards your tenant's rent.

In ZIP 92413, the local median rent is currently listed as N/A. However, the FMR of $1940 gives you a benchmark for what is considered a fair market rate in this area. This means if your property's rent is below $1940, you'll be reimbursed up to that amount by the housing authority, depending on the voucher holder's contribution. If your rent exceeds $1940, the tenant would need to pay the difference out of pocket, which could make your property less attractive to potential voucher holders.

The percentage of renters in ZIP 92413 is also listed as N/A%. While we don't have specific numbers, a high percentage of renters typically indicates strong demand for rental properties. This can be beneficial for landlords as it increases the likelihood of finding tenants willing to use their Section 8 vouchers.

Regarding the acquisition cost of properties in this area, the average is noted as N/A. This value can help you understand the typical investment required to purchase a rental property in ZIP 92413. Keep in mind that the acquisition cost does not directly correlate with the monthly rental income but affects your overall return on investment.

Before deciding to enter the Section 8 market, one key verification step is essential: ensure that your property meets all the required standards set by the local housing authority. These standards cover safety, health, and habitability criteria and are designed to protect both the tenant and the landlord. Failure to comply can result in reduced payments or even termination of the contract.

To summarize, the FMR of $1940 in ZIP 92413 sets the limit for how much you can charge under the Section 8 program. Despite the lack of specific local median rent and renter share data, the FMR provides a clear guideline for pricing your rental property competitively. The acquisition cost, while currently unavailable, is another critical factor in assessing your investment's viability. Lastly, confirming that your property adheres to the housing authority's standards is crucial before making any final decisions.

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.