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 HUD Fair Market Rent (FMR) for ZIP code 92885 in Santa Ana-Anaheim-Irvine, CA, for fiscal year 2024 is set at $2780. This figure represents the maximum amount that voucher holders can pay towards their monthly rent under the Section 8 program. However, without specific market rent data for ZIP 92885, it's challenging to definitively state how well voucher tenants will cashflow in this area. Typically, if the market rents exceed the HUD FMR significantly, voucher tenants might only cashflow with premium units or marginally at best.
To provide context, the median home value in ZIP 92885 is currently unavailable, which makes deriving an accurate rent-to-price ratio impossible. The rent-to-price ratio is a key metric for understanding the dynamics between renting and buying in a particular area. If the median home value were known, we could calculate this ratio and use it to inform investment decisions regarding whether rental properties or home purchases would be more profitable in the long term.
The Days on Market (DOM) and the percentage of homes that experience price cuts are also critical metrics for understanding the local real estate market. Unfortunately, these figures are not available for ZIP 92885. In general, a high DOM and a significant percentage of price cuts indicate a buyer's market, where rental properties might offer more stable income streams compared to flipping or holding homes for appreciation.
In the absence of detailed market rent and home value data, the strongest angle for investors in ZIP 92885 remains cashflow. Given the fixed nature of HUD FMRs, properties that align closely with this figure will likely provide steady, predictable income for Section 8 investors. Stability is the most reliable investor angle in this scenario, as it ensures a consistent stream of rental income without the volatility associated with fluctuating market rents or home values.
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.