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 analysis of ZIP code 92862 within the Santa Ana-Anaheim-Irvine, CA HUD Metro FMR Area reveals several critical points for Section 8 real-estate investors.
First, the rent math must be scrutinized. The Fair Market Rent (FMR) for the area in fiscal year 2024 is set at $2780. However, due to the lack of specific market rent data, it's impossible to directly compare the FMR against the actual market rates. This absence of market rent figures makes it challenging to assess whether the rent math works favorably for landlords.
Second, the acquisition cost must be evaluated. Unfortunately, the median home value for ZIP 92862 is not available, which means we cannot determine if homes are priced within an affordable range for acquisition. Similarly, the number of days on the market (DOM) and the percentage of homes that required price cuts are also missing, making it difficult to gauge the affordability and ease of acquiring properties in this area.
Lastly, tenant demand should be considered. With no specific population data or percentage of renters in the area, it's hard to quantify the demand for rental properties. This lack of demographic information leaves a significant gap in understanding the potential occupancy rates and the competition for tenants.
Verdict: The analysis of ZIP 92862 for Section 8 real-estate investment is significantly hampered by the unavailability of crucial data points such as market rent, median home values, days on market, price cut percentages, and population demographics. Without these figures, it's not possible to definitively conclude whether the rent math works, if acquisitions are affordable, or if there is sufficient tenant demand. Landlords and investors should seek out comprehensive local real estate reports and consult with local agents to fill in these data gaps before making any investment decisions.
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.