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 Fair Market Rent (FMR) for ZIP 92803 is set at $2,780 for fiscal year 2024. This figure reflects the average rental price for a typical unit in the area, which is directly relevant to the potential cash flow for landlords and small-portfolio investors. The FMR serves as a benchmark for Section 8 payments and indicates that rental properties in this ZIP code can generate a solid yield.
However, specific figures for the market value and home value in ZIP 92803 were not provided in the data. To accurately assess the yield, it would be necessary to compare the FMR against these values. The absence of such data makes it challenging to provide a comprehensive yield analysis.
Regarding stability, the data does not specify the percentage of renters, the average number of days on market (DOM), or the median income. These metrics are crucial for understanding the financial health and predictability of the rental market in ZIP 92803. Without them, it is difficult to classify the stability of the area.
In conclusion, ZIP 92803 appears to offer a high-yield opportunity based on the FMR of $2,780. However, the lack of detailed market and income data prevents a definitive assessment of stability. It could be a high-yield/low-stability flip-style market if the rental demand is volatile, but it might also be a steady-cashflow zone if the local economy supports consistent tenant occupancy. Further investigation into local rental trends and economic indicators is recommended to refine this classification.
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.