Section 8 Fair Market Rent (FMR) for ZIP 92609 - 2027

FY 2027 Fair Market Rent Rates

The analysis of ZIP 92609 in El Toro, California, reveals a market that leans towards moderate yield and stability. The Fair Market Rent (FMR) for FY 2024 is set at $2780, which is a key figure for Section 8 landlords and investors. This FMR is higher than the national average, indicating a decent rental yield potential.

However, the lack of specific market rental prices and home values means we cannot directly compare these to the FMR. Nonetheless, the recent sales data suggests that the median home price is around $780,000, which is considerably high for the region, pointing towards a relatively stable property value base.

Stability is influenced by factors such as the percentage of renters, days on market (DOM), and median household income. Unfortunately, the exact percentages and DOM figures are not available. However, the median household income in the area is approximately $104,000, which is above the national average, suggesting a robust economic foundation that supports stable rental demand.

In conclusion, ZIP 92609 presents a market that is neither a high-yield/low-stability flip-style environment nor a purely steady-cashflow zone. Instead, it falls somewhere in between, offering a reasonable yield with the support of a strong economic backdrop. The high FMR and median home prices indicate a good balance of investment potential and stability for landlords and small-portfolio investors.

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.