Location: Oxnard-Thousand Oaks-Ventura, CA | Metro: Oxnard-Thousand Oaks-Ventura, CA MSA
| 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 |
ZIP code 93062, located within the Oxnard-Thousand Oaks-Ventura, CA MSA, has a Fair Market Rent (FMR) of $2410 for fiscal year 2024. This figure represents the median rental cost for the area, adjusted annually based on the Department of Housing and Urban Development's standards. However, specific market rent and home value data for ZIP 93062 are currently unavailable.
To position ZIP 93062 within the broader context of the Oxnard-Thousand Oaks-Ventura, CA MSA, it is necessary to compare its FMR to the typical ZIP codes within the same metropolitan statistical area. Generally, ZIP codes with an FMR of around $2410 are considered mid-tier neighborhoods within the Oxnard-Thousand Oaks-Ventura, CA MSA. This is because the FMR range for the entire MSA can vary significantly, with some ZIP codes having much higher or lower rents depending on their location and amenities.
The lack of specific market rent and home value data for ZIP 93062 makes it difficult to definitively classify the area as a value pocket, mid-tier neighborhood, or premium sub-market. However, given that the FMR is a standard measure used for housing assistance programs, including Section 8, and it is positioned in the middle of the expected range for the MSA, it suggests that 93062 is likely a mid-tier neighborhood.
Additionally, the absence of data on the percentage of renters in ZIP 93062 means we cannot draw conclusions about its renter share relative to other ZIP codes in the MSA. Typically, a high renter share combined with below-average home values can indicate a potential sweet spot for Section 8 properties, but without specific figures, such an inference would be speculative.
In summary, ZIP 93062 appears to be a mid-tier neighborhood within the Oxnard-Thousand Oaks-Ventura, CA MSA, based on its FMR of $2410. To further refine its classification as a value pocket or premium sub-market, additional data on market rents and home values would be required.
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.