Section 8 Fair Market Rent (FMR) for ZIP 93032 - 2027
Location: Oxnard-Thousand Oaks-Ventura, CA | Metro: Oxnard-Thousand Oaks-Ventura, CA MSA
FY 2027 Fair Market Rent Rates
| Unit Size |
Monthly FMR |
| Studio | $1,830 |
| 1 Bedroom | $2,040 |
| 2 Bedrooms | $2,430 |
| 3 Bedrooms | $3,290 |
| 4 Bedrooms | $3,820 |
| 5 Bedrooms | $4,431 |
| 6 Bedrooms | $4,963 |
| 7 Bedrooms | $5,360 |
| 8 Bedrooms | $5,628 |
To determine if you should invest in ZIP 93032 for Section 8 properties, follow this decision tree:
- Does FMR $2410 (ZIP FY 2024) cover the debt service on a property?
- If yes: Proceed to the next question.
- If no: Do not buy here for Section 8. The Fair Market Rent (FMR) does not sufficiently cover your costs.
- Is the market rent above, at, or below FMR?
- If above: The area may be too competitive for Section 8 tenants who are restricted to paying the FMR. Consider other ZIP codes where market rents align closer with the FMR.
- If at: This ZIP code is perfectly suited for Section 8 tenants. The market rent matches the FMR, making it ideal for Section 8 housing.
- If below: While the lower market rent can be advantageous, it also indicates that there might be an oversupply of rental units or economic conditions affecting rental prices. Evaluate further before deciding.
- Are the percentage of renters and days on the market sufficient to meet demand?
- If the percentage of renters is high and the days on the market (DOM) are low: There is strong demand for rental properties in this ZIP code. This makes it a good investment for Section 8 properties.
- If the percentage of renters is moderate and DOM is average: Demand is stable but not exceptional. It depends on your risk tolerance and investment goals. Moderate demand can still support Section 8 investments, especially if other factors are favorable.
- If the percentage of renters is low and DOM is high: Demand for rentals is weak, which can make it challenging to find and retain Section 8 tenants. Do not invest here unless you can identify unique selling points or market differentiators that could improve occupancy rates.
Note: Specific data points such as the exact percentage of renters and days on the market are missing for ZIP 93032. These metrics are crucial for making an informed decision. Without this information, you cannot accurately assess whether the demand will support your Section 8 investment.
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.