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 92728, located in Fountain Valley, CA, can be classified based on the yield and stability axes using the available Fair Market Rent (FMR) and real estate data.
Yield: The FMR for ZIP 92728 in fiscal year 2024 is set at $2,780. This figure indicates the potential rental income landlords can expect from properties in this area. Comparatively, the median home values listed on Zillow range from $799,900 to $3,995,000. Given these price points, it suggests that the market is relatively high-yield, especially when considering the rental income potential against property values. However, without specific market rent data, we cannot make a direct comparison to gauge if rental yields exceed typical market expectations.
Stability: Stability metrics such as percentage of renters, days on market (DOM), and average income levels are not provided. Therefore, we must rely on the broader context of the real estate listings to infer some level of stability. The presence of multiple listings across various price ranges suggests a dynamic but not necessarily volatile market. High-end listings ($3,995,000) alongside more affordable options ($799,900) indicate a diverse housing market, which could contribute to stability by catering to different income brackets.
Based on the yield analysis, ZIP 92728 leans towards a high-yield market, driven by the FMR of $2,780 and the wide range of home values. However, without comprehensive stability data, it's challenging to definitively categorize the market as either high-yield/low-stability or a steady-cashflow zone. The diversity in property types and price points suggests a balanced market, but further investigation into rental rates and economic indicators would provide a clearer picture.
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.