Location: Santa Ana-Anaheim-Irvine, CA | Metro: Santa Ana-Anaheim-Irvine, CA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,840 |
| 1 Bedroom | $2,880 |
| 2 Bedrooms | $3,370 |
| 3 Bedrooms | $4,580 |
| 4 Bedrooms | $5,470 |
| 5 Bedrooms | $6,345 |
| 6 Bedrooms | $7,106 |
| 7 Bedrooms | $7,674 |
| 8 Bedrooms | $8,058 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,880 | $460,973 | 0.62% | D |
| 2BR | $3,370 | $656,102 | 0.51% | F |
| 3BR | $4,580 | $1,005,785 | 0.46% | F |
| 4BR | $5,470 | $1,628,601 | 0.34% | F |
| 5BR | $6,345 | $2,584,004 | 0.25% | F |
U.S. Census Bureau data (2024)
ZIP code 92653, located in Laguna Hills, CA, is part of the Santa Ana-Anaheim-Irvine, CA HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 92653 in fiscal year 2024 is set at $3,110, slightly above the typical market rent of $2,985 for this ZIP code. This indicates that properties here might be slightly overpriced compared to what the market would naturally bear.
The median home value in ZIP 92653 stands at $1,291,184, which is notably higher than average home values within the broader metro area. This suggests that 92653 is positioned as a premium sub-market within the larger Santa Ana-Anaheim-Irvine region. Premium sub-markets typically attract higher-income residents and command higher rents and property values.
The renter share in ZIP 92653 is 30.5%, which is relatively low compared to other areas within the same HUD Metro FMR Area. A lower renter share often correlates with a higher proportion of homeowners, indicating a more stable and affluent community. However, this also means there is less demand from renters, which could impact the attractiveness of the area for landlords and small-portfolio investors looking for rental opportunities.
To determine if ZIP 92653 is a value pocket, consider the relationship between FMR and market rent. While the FMR is higher than the market rent, this does not necessarily indicate a value pocket due to the significantly higher home values. Value pockets are usually characterized by lower home values and a balance between FMR and market rent, attracting a mix of homeowners and renters.
In summary, ZIP 92653 is best classified as a premium sub-market within the Santa Ana-Anaheim-Irvine, CA HUD Metro FMR Area. Its high home values and slightly elevated FMR compared to market rent suggest it caters to a more affluent demographic. The relatively low renter share implies fewer rental opportunities but also points to a stable, desirable living environment.
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.