Section 8 Fair Market Rent (FMR) for ZIP 92685 - 2027

FY 2027 Fair Market Rent Rates

The Fair Market Rent (FMR) for ZIP code 92685 in fiscal year 2024 is set at $2780. This figure represents the payment standard used by the U.S. Department of Housing and Urban Development (HUD) to determine the maximum amount of assistance a tenant can receive through the Section 8 program. It does not represent the actual rent you will charge your tenants; rather, it's the ceiling on what the government will pay towards rent for units in this area.

In ZIP 92685, the local median rent is currently listed as N/A, which means there isn't enough data to provide an accurate comparison against the FMR. However, the percentage of renters in this ZIP code is N/A%, indicating a significant portion of the population relies on rental housing. This suggests there could be a strong demand for affordable housing options under the Section 8 program.

The average cost to acquire a property in this ZIP code is also listed as N/A, making it difficult to assess the typical investment required to enter the market. Nonetheless, if you're looking to invest in a Section 8 rental property, it's crucial to ensure that the rent you set complies with HUD guidelines and is competitive with other available rentals in the area to attract tenants.

Before proceeding with your investment, verify that the property meets all the eligibility requirements for the Section 8 program, including physical condition standards and rent reasonableness. This will help you avoid any costly surprises down the line and ensure a smoother transition into the Section 8 rental market.

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.