Section 8 Fair Market Rent (FMR) for ZIP 92647 - 2027

Investment Score for ZIP 92647

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,610
1 Bedroom	$2,640
2 Bedrooms	$3,090
3 Bedrooms	$4,200
4 Bedrooms	$5,020
5 Bedrooms	$5,823
6 Bedrooms	$6,522
7 Bedrooms	$7,044
8 Bedrooms	$7,396

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$2,640	$430,702	0.61%	D
2BR	$3,090	$612,934	0.5%	F
3BR	$4,200	$1,196,174	0.35%	F
4BR	$5,020	$1,340,328	0.37%	F
5BR	$5,823	$1,540,023	0.38%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 92647 (Huntington Beach, CA) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) figures for ZIP code 92647 (Huntington Beach, CA) in 2026 are as follows: - 0BR: $2670 - 1BR: $2730 - 2BR: $3220 - 3BR: $4370 - 4BR: $5220 Comparing these figures to the actual rental market, we see that the Zillow median price for a 2BR unit is $610,983, which translates to a monthly mortgage payment of approximately $3,220 based on typical financing terms. However, the price-to-FMR ratio for a 2BR unit is 15.8x, indicating that the actual rent for a 2BR unit is likely much higher than the FMR of $3220. This suggests that Section 8 voucher holders face significant constraints in finding affordable housing within their budget. The 2BR FMR represents only 36.8% of the median household income of $105,110, making it challenging for voucher holders to secure units that landlords are willing to accept given the high demand and limited supply. #### Affordability & Renter Profile ZIP code 92647 has a population of 59,047, with 56.4% of residents being renters. The occupancy rate stands at 95.5%, indicating a very tight rental market. Given the high percentage of renters and the occupancy rate, it is clear that there is a strong demand for rental properties in this area. However, the affordability of housing is a major concern, especially for those relying on Section 8 vouchers. With the median household income at $105,110, the majority of residents can afford higher rents, but the 36.8% threshold for 2BR units underlines the difficulty faced by lower-income families who might be eligible for Section 8 assistance. #### Investor Angle From an investor perspective, the ZIP code 92647 offers a mixed picture. The FMR for a 2BR unit is $3220, while the Zillow median price for a similar unit is $610,983. Assuming a typical mortgage interest rate of around 4%, the monthly mortgage payment would be approximately $3,220. This means that the FMR is roughly equal to the expected mortgage payment, suggesting that cash flow might be marginal if not negative when considering property taxes, insurance, and maintenance costs. Given the high price-to-FMR ratio of 15.8x, the investment grade for properties in this ZIP code is likely to be low for Section 8-focused investors. The tight rental market and high demand suggest that non-voucher tenants could potentially pay significantly more than the FMR, but the challenge lies in finding landlords willing to accept Section 8 vouchers due to the stringent requirements and potential delays in payments. #### Specific Actionable Insights 1. **Focus on Smaller Units**: Given the high price-to-FMR ratio, investors should consider focusing on smaller units such as 0BR and 1BR apartments. These units have FMRs of $2670 and $2730 respectively, which are lower compared to the larger units. This could provide better cash flow opportunities, although the demand for smaller units might be less robust. 2. **Seek Out-of-Voucher Opportunities**: Investors should explore opportunities outside of the Section 8 program. The high median home price and occupancy rate indicate that there is a significant number of residents who can afford higher rents. Landlords might find it more profitable to target non-voucher tenants, who are willing to pay above the FMR. #### Bottom Line For Section 8-focused investors, the ZIP code 92647 presents a challenging environment. The high price-to-FMR ratio and the tight rental market make it difficult to achieve positive cash flow solely through Section 8 vouchers. Therefore, the recommendation is to **Skip** this ZIP code for Section 8 investments unless you can find properties where the rent is close to the FMR and the unit size is small enough to fit within the voucher limits. Instead, investors might want to consider other ZIP codes with a lower price-to-FMR ratio and more favorable conditions for Section 8 tenants.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.