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 Section 8 market in ZIP code 92837, part of the Santa Ana-Anaheim-Irvine County area, is defined by the HUD Fair Market Rent (FMR) of $2780 for fiscal year 2024. However, the lack of current market rent data for this area makes it challenging to provide a direct comparison between the HUD FMR and what landlords might typically charge. Based on the available HUD FMR, voucher tenants in this region will cashflow at the FMR rate, meaning that landlords can expect to cover their costs without needing to rely on premium units to achieve positive cash flow.
The median home value in ZIP 92837 is not specified, which limits our ability to calculate a precise rent-to-price ratio. Nevertheless, the absence of this figure suggests that either the data is not readily available or that the housing market in this area is highly variable, making such a metric less reliable. Despite these limitations, the stability offered by the Section 8 program remains an attractive feature for investors in this area.
While the median days on market (DOM) and the percentage of homes that have been listed with a price cut are also not provided, these factors are crucial in understanding the local real estate market's dynamics. The lack of these statistics indicates a need for further research into how quickly properties are selling and at what price point. This information would be valuable for assessing the rent-versus-buy dynamics and determining whether there is a strong preference for renting over buying in the area.
In conclusion, the strongest investor angle in ZIP 92837 for Section 8 investments is cashflow. With the HUD FMR set at $2780, landlords can expect to cover their expenses and maintain a steady income stream without the need for premium units. This predictability and reliability make cashflow the most compelling reason for investing in this area under the Section 8 program.
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.