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 |
ZIP code 92690 is positioned within the Santa Ana-Anaheim-Irvine, CA HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 92690 is set at $2780 for fiscal year 2024. However, the specific market rent and home value figures for this ZIP code are not available, nor is the exact percentage of renters.
To contextualize 92690 within its broader metro area, we must rely on the FMR figure. The FMR of $2780 is a critical benchmark used by the U.S. Department of Housing and Urban Development (HUD) to determine eligibility for housing assistance programs such as Section 8. This figure suggests that the rental market in 92690 is likely competitive and may be considered a mid-tier neighborhood within the metro area.
The absence of market rent and home value data makes it challenging to provide a definitive classification of 92690 as either a value pocket or a premium sub-market. However, the FMR alone indicates that rents in 92690 are aligned with HUD's assessment of fair market conditions, which typically reflects average costs within a given area.
Without the specific renter share percentage, it is difficult to infer if 92690 could be a sweet spot for Section 8 investments. Typically, a high renter share coupled with below-average home values can signal a favorable environment for Section 8 properties. Since the renter share percentage is not available, we cannot make this determination. Nonetheless, the alignment with the metro area's FMR suggests that 92690 is neither undervalued nor overpriced relative to the surrounding areas.
Landlords and small-portfolio investors should consider the FMR as a starting point for pricing their rentals and assessing the potential demand for Section 8 units in 92690. While the ZIP code appears to be a mid-tier neighborhood based on the FMR, further research into local market conditions would be necessary to fully understand its position within the Santa Ana-Anaheim-Irvine, CA HUD Metro FMR Area.
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.