Location: Santa Ana-Anaheim-Irvine, CA | Metro: Santa Ana-Anaheim-Irvine, CA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,420 |
| 1 Bedroom | $2,480 |
| 2 Bedrooms | $2,920 |
| 3 Bedrooms | $3,960 |
| 4 Bedrooms | $4,730 |
| 5 Bedrooms | $5,487 |
| 6 Bedrooms | $6,145 |
| 7 Bedrooms | $6,637 |
| 8 Bedrooms | $6,969 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,480 | $548,116 | 0.45% | F |
| 2BR | $2,920 | $734,227 | 0.4% | F |
| 3BR | $3,960 | $875,288 | 0.45% | F |
| 4BR | $4,730 | $967,356 | 0.49% | F |
| 5BR | $5,487 | $1,083,504 | 0.51% | F |
U.S. Census Bureau data (2024)
Anaheim (ZIP 92805) offers a vibrant lifestyle defined by endless entertainment options, from theme parks to major league games and concerts, creating a dynamic environment for residents. The area is characterized by a diverse housing mix, including single-family homes and townhomes, which appeals to a broad demographic. Known for its multicultural atmosphere, this neighborhood is more working-class and family-oriented compared to other Orange County communities, providing a solid foundation for long-term rental stability.
Financially, 92805 presents a specific arbitrage opportunity for Section 8 investors. The FY2026 Fair Market Rent for a 2-bedroom unit sits at $2,840, while the current market rent (Zillow ZORI) is $2,794. This results in a positive spread of $46 per month in favor of voucher holders. With a median home value of $861,755 and a median 2BR sale price of $733,598, properties typically move with a median days on market of 49 days, indicating moderate liquidity. Based on these figures, voucher tenants cash-flow here.
Demand drivers are strong, bolstered by a high renter share of 60.1% and a median household income of $91,252. The neighborhood is recognized as a family-friendly environment within a diverse community, which aligns well with the demographic seeking housing vouchers. Access to amenities and a vibrant community life further sustains tenant retention, making it a desirable location for families seeking stability in Orange County.
The strongest investor angle in Anaheim 92805 is cashflow stability backed by government guarantees. With the 2BR FMR exceeding market rent by $46, investors can achieve guaranteed payments at rates slightly above private market levels. Coupled with a high renter population (60.1%) and family-oriented neighborhood features, this area offers a defensive play where Section 8 provides a reliable income floor over market volatility.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). Demographics from U.S. Census (2024).
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.