Section 8 Fair Market Rent (FMR) for ZIP 92619 - 2027
Location: Santa Ana-Anaheim-Irvine, CA | Metro: Santa Ana-Anaheim-Irvine, CA HUD Metro FMR Area
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $2,580 |
| 1 Bedroom | $2,610 |
| 2 Bedrooms | $3,060 |
| 3 Bedrooms | $4,160 |
| 4 Bedrooms | $4,970 |
| 5 Bedrooms | $5,765 |
| 6 Bedrooms | $6,457 |
| 7 Bedrooms | $6,974 |
| 8 Bedrooms | $7,323 |
To determine if you should buy in ZIP code 92619 for Section 8 investments, follow this decision tree:
- Does the Fair Market Rent (FMR) of $2780 cover debt service on a property?
- Yes: If the FMR of $2780 is sufficient to cover all your monthly expenses including mortgage payments, taxes, insurance, and maintenance costs, then it makes sense to consider properties in this area. The next step is to evaluate the market rent.
- No: If the FMR does not cover your debt service, purchasing in this area would result in financial losses. Do not proceed with buying in ZIP 92619.
- Is the market rent above, at, or below the FMR of $2780?
- Above: If the market rent exceeds $2780, you can potentially earn additional income beyond what is covered by Section 8 vouchers. This scenario supports investment in the area, provided other conditions align favorably.
- At: When market rent matches the FMR, your income will be stable but without the potential for extra revenue. This situation is neutral; the decision hinges on other factors such as demand and vacancy rates.
- Below: If the market rent is below $2780, there might be a risk of lower occupancy rates or difficulty in finding tenants willing to pay the FMR. This makes the investment less attractive unless there's strong demand for rentals.
- Are the rental demand metrics favorable?
- It Depends: Without specific data on the percentage of renters and days on the market (DOM), it's challenging to make a definitive statement. Generally, a high percentage of renters combined with low DOM indicates strong demand. Conversely, low percentages of renters and high DOM suggest weaker demand. In ZIP 92619, analyze these metrics to decide if there is enough tenant interest to justify an investment.
Note: The decision tree cannot provide a clear yes or no due to missing data points on market rent and rental demand metrics. Acquire detailed local real estate and rental market information to make a well-informed decision.
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.