Location: Santa Ana-Anaheim-Irvine, CA | Metro: Santa Ana-Anaheim-Irvine, CA HUD Metro FMR Area
| 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 |
The Section 8 market in ZIP code 92658, part of the Santa Ana-Anaheim-Irvine County area in California, is characterized by a Federal Market Rent (FMR) rate set at $2780 for fiscal year 2024. This figure represents the maximum amount that landlords can charge for rental properties participating in the Section 8 program. However, due to the lack of available market rent data, it's challenging to provide a direct comparison between the FMR and local market rates. Despite this limitation, we can infer that voucher tenants will likely cashflow at the FMR rate, given the typically high rents in the region. Landlords may find that properties only cashflow marginally or require premium units to ensure profitability.
The median home value in ZIP 92658 is also not available, which makes deriving an exact rent-to-price ratio difficult. However, considering the high cost of living in the area, it's reasonable to assume that the rent-to-price ratio would be favorable for renters, making the rental market attractive for those seeking affordable housing options. The dynamics between renting and buying in this market are significant, but without specific data on days on market (DOM) and price cut percentages, these factors cannot be quantitatively analyzed.
The strongest angle for investors in this area is cashflow. While appreciation and stability are important considerations, the ability to secure steady income through rental payments, especially when aligned with the Section 8 program's FMR guidelines, provides a reliable financial foundation. This is particularly true for landlords who can manage their expenses effectively and maintain properties at a level that attracts voucher holders.
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.