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 ZIP code 92697 is located in Irvine, California, a city known for its affluent suburban lifestyle. According to available data, the median household income in ZIP code 92697 is $104,220, reflecting a higher-than-average income compared to the state median of $90,476. The median home value stands at $845,300, which is also above the state median of $630,300. However, specific percentages of renters were not found in the latest data.
In terms of rent economics, the Fair Market Rent (FMR) for ZIP code 92697 in fiscal year 2024 is set at $2,780. This figure represents the government's estimate of the maximum rent a family can afford while still being considered low-income, and it serves as a benchmark for Section 8 rental assistance.
Given the high median income and home values, ZIP code 92697 is well-suited for hands-on value-add buyers rather than hands-off voucher operators. The area's demographics suggest a strong demand for high-quality rentals, and landlords who can offer amenities and upgrades will likely attract tenants willing to pay above the FMR. For small-portfolio investors, focusing on properties that can be improved to command premium rents aligns better with the economic profile of this ZIP code.
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.