Section 8 Fair Market Rent (FMR) for ZIP 93010 - 2027

Investment Score for ZIP 93010

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$1,970
1 Bedroom	$2,190
2 Bedrooms	$2,600
3 Bedrooms	$3,510
4 Bedrooms	$4,070
5 Bedrooms	$4,721
6 Bedrooms	$5,288
7 Bedrooms	$5,711
8 Bedrooms	$5,997

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
1BR	$2,190	$439,712	0.5%	F
2BR	$2,600	$624,959	0.42%	F
3BR	$3,510	$852,094	0.41%	F
4BR	$4,070	$982,548	0.41%	F
5BR	$4,721	$1,182,774	0.4%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

### Market Analysis for ZIP Code 93010 (Camarillo, CA) #### Section 8 Voucher Dynamics The Fair Market Rent (FMR) for ZIP code 93010, as per the 2026 data, is set at $2870 for a two-bedroom unit. This represents 31.0% of the median household income of $111,176 in the area. However, the actual rental market price for a two-bedroom unit is significantly higher, with the Zillow median price being $626,119. The price-to-FMR ratio is a staggering 18.2x, indicating that the actual market rent far exceeds the FMR. For voucher holders, this means that finding affordable housing can be challenging, as the majority of available units will likely cost more than the FMR. As a result, voucher holders may face constraints such as limited housing options or having to pay a substantial portion of their income towards rent. #### Affordability & Renter Profile ZIP code 93010 has a population of 46,748, with 35.6% of residents being renters. Given the high median household income and occupancy rate of 94.2%, it is clear that the Camarillo housing market is relatively tight. The high rent-to-income ratio suggests that the area is primarily attractive to higher-income individuals who can afford the premium rents. However, the significant percentage of renters indicates that there is still a considerable demand for rental properties, even if they are not necessarily affordable to lower-income households. The market is likely oversupplied with luxury rentals but undersupplied with affordable units, making it difficult for low-income families to find suitable housing without financial assistance. #### Investor Angle From an investor perspective, the ZIP code 93010 presents a mixed picture. While the FMR for a two-bedroom unit is $2870, the actual market rent is much higher, with the Zillow median price at $626,119. This implies that landlords would need to charge well above the FMR to achieve positive cash flow. The high price-to-FMR ratio of 18.2x suggests that the market is not aligned with the FMR, which could pose challenges for investors relying solely on Section 8 vouchers. Given the high median household income and the tight rental market, investors might consider targeting higher-end rentals or those that cater to middle to upper-income tenants. However, for Section 8-focused investments, the ZIP code may not be ideal due to the mismatch between FMR and actual market rents. The investment grade for Section 8 properties in this area would likely be low, as the FMR does not cover the actual costs of maintaining and managing properties in a high-rent environment. #### Specific Actionable Insights 1. **Target Luxury Rentals**: Investors should focus on properties that can command higher rents, aligning with the actual market conditions. A two-bedroom unit priced at $626,119 would likely generate better returns compared to a property priced at the FMR of $2870. 2. **Consider Mixed-Income Developments**: To balance the needs of both voucher holders and market-rate tenants, developers might consider creating mixed-income housing projects. These developments can offer a range of rental prices, including some units that are closer to the FMR, while others cater to the higher end of the market. 3. **Utilize Section 8 for Entry-Level Units Only**: If an investor decides to participate in the Section 8 program, it would be prudent to limit this to entry-level units, such as one-bedroom or studio apartments. The FMR for these units is $2400 and $2130 respectively, which is closer to the actual market rent for smaller units. #### Bottom Line Based on the provided data, the recommendation for Section 8-focused investors in ZIP code 93010 would be to **skip** this market. The high price-to-FMR ratio and the tight rental market suggest that the actual rents far exceed the FMR, making it difficult to find properties that are financially viable for Section 8 vouchers. Instead, investors should look for areas where the FMR is more closely aligned with the actual market rents, or consider developing mixed-income housing projects that can cater to a broader range of tenants.

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.