Section 8 Fair Market Rent (FMR) for ZIP 92660 - 2027
Location: Santa Ana-Anaheim-Irvine, CA | Metro: Santa Ana-Anaheim-Irvine, CA HUD Metro FMR Area
Investment Score for ZIP 92660
F
Monthly Rent (2BR)
$4,590
Median Price (2BR)
$1,477,473
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 | $3,870 |
| 1 Bedroom | $3,920 |
| 2 Bedrooms | $4,590 |
| 3 Bedrooms | $6,240 |
| 4 Bedrooms | $7,450 |
| 5 Bedrooms | $8,642 |
| 6 Bedrooms | $9,679 |
| 7 Bedrooms | $10,453 |
| 8 Bedrooms | $10,976 |
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 |
$3,920 |
$921,341 |
0.43% |
F |
| 2BR |
$4,590 |
$1,477,473 |
0.31% |
F |
| 3BR |
$6,240 |
$2,615,614 |
0.24% |
F |
| 4BR |
$7,450 |
$4,054,184 |
0.18% |
F |
| 5BR |
$8,642 |
$5,406,173 |
0.16% |
F |
Demographics & Housing Statistics
U.S. Census Bureau data (2024)
Median Household Income
$159,564
To determine if you should invest in ZIP 92660 (Newport Beach, CA) for Section 8 properties, follow this decision tree:
- If your answer to the first question is yes: The Fair Market Rent (FMR) of $3900 for ZIP 92660 in fiscal year 2024 does not clear the debt service on a property valued at $3,231,082. This suggests that the rental income alone will not cover the mortgage payments and other expenses associated with such a high-value property. Therefore, the answer is No.
- If your answer to the second question is yes: The Zillow Observed Rent Index (ZORI) indicates that the average market rent in ZIP 92660 is $4,191, which is above the FMR of $3900. This means that landlords can potentially command higher rents than what is allowed under the Section 8 program. However, this also implies that Section 8 tenants may struggle to find units within their budget, leading to lower demand for Section 8 properties. Thus, the answer is No.
- If your answer to the third question is yes: Despite the fact that 50.8% of residents are renters and the days on market (DOM) is only 16 days, these factors alone do not guarantee sufficient demand for Section 8 properties. Given the high market rent compared to the FMR, many units may be priced out of the reach of Section 8 tenants. Therefore, the answer is No.
The analysis clearly shows that investing in ZIP 92660 for Section 8 properties is not advisable due to the high property values and the disparity between market rent and FMR.
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.