Section 8 Fair Market Rent (FMR) for ZIP 92628 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 92628, located in Orange County, California, is part of a vibrant suburban landscape characterized by its proximity to major employment centers and its blend of residential neighborhoods and commercial developments. This area offers a mix of single-family homes and apartments, making it attractive for both homeowners and renters.

• Fair Market Rent (FMR) for ZIP 92628: The Fair Market Rent for a two-bedroom apartment in ZIP 92628 for fiscal year 2024 is set at $2780. This figure represents the maximum amount that low-income families should pay in rent and utilities to be considered affordable.
• Market Rent: Specific data on market rent for ZIP 92628 is currently unavailable. However, given the high cost of living in Orange County, it is reasonable to expect market rents to exceed the Fair Market Rent significantly.
• Median Home Value: Data on the median home value for ZIP 92628 is not available. Nonetheless, the surrounding areas in Orange County generally have high median home values, reflecting the region's affluent demographic.
• Renter Share: The percentage of residents who are renters in ZIP 92628 is not specified. In Orange County, the overall rental market has seen growth due to the increasing demand for housing near job hubs.
• Days on Market (DOM): Information regarding the average days on market for properties in ZIP 92628 is not available. Typically, in fast-moving markets like Orange County, properties can sell quickly, often within a few weeks.
• Median Income: The median income for ZIP 92628 is not specified. Median incomes in Orange County are generally higher than the national average, supporting a robust rental market.

Investors looking to enter the ZIP 92628 market should focus on properties that cater to the needs of working professionals and families seeking affordable housing options. With the Fair Market Rent at $2780 for a two-bedroom unit, there is potential for Section 8 tenants. However, the lack of specific market rent data suggests that thorough local research is necessary to understand the competitive landscape and pricing dynamics. The strong economic base of Orange County, coupled with the absence of median home value and median income specifics, indicates a need for detailed neighborhood analysis to identify opportunities that align with investor goals.

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.