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

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

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

34,890

Median Household Income

$159,564

Housing Units

17,061

Renter Percentage

50.8%

Occupancy Rate

91.0%

Renter Occupied

7,897

Housing Authorities Serving ZIP 92660

Orange County Housing Authority (Santa Ana, CA) - 11,686 Section 8 vouchers
City of Anaheim Housing Authority (Anaheim, CA) - 6,835 Section 8 vouchers
Housing Authority of the City of Santa Ana (Santa Ana, CA) - 3,398 Section 8 vouchers
Housing Authority of the City of Garden Grove (Garden Grove, CA) - 2,437 Section 8 vouchers

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). 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.