Location: Oxnard-Thousand Oaks-Ventura, CA | Metro: Oxnard-Thousand Oaks-Ventura, CA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,860 |
| 1 Bedroom | $2,080 |
| 2 Bedrooms | $2,460 |
| 3 Bedrooms | $3,310 |
| 4 Bedrooms | $3,850 |
| 5 Bedrooms | $4,466 |
| 6 Bedrooms | $5,002 |
| 7 Bedrooms | $5,402 |
| 8 Bedrooms | $5,672 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $3,310 | $1,214,333 | 0.27% | F |
| 4BR | $3,850 | $1,631,272 | 0.24% | F |
| 5BR | $4,466 | $2,230,176 | 0.2% | F |
U.S. Census Bureau data (2024)
The market in ZIP 93066 presents a dynamic equilibrium between supply and demand, with key indicators suggesting that demand is robust enough to keep rents competitive. The Fair Market Rent (FMR) for the area is set at $2,190 for the fiscal year 2024, while the market rent, as reported by the Census Bureau's American Community Survey (ACS), stands slightly higher at $2,284. This close alignment between FMR and market rent implies that rental prices are reflective of the actual cost to landlords, indicating a healthy market without significant overvaluation.
A median home value of $1,533,720 suggests a relatively affluent neighborhood, which can support higher rental rates due to the economic strength of the residents. However, the lack of data on price-cut shares and days on market (DOM) makes it challenging to definitively state whether supply is currently outpacing demand or vice versa. Typically, if there were a surplus of supply, we would expect to see higher price-cut shares and longer DOM periods, but the absence of these figures leaves room for interpretation.
The 25.3% renter share is noteworthy. In areas with a high percentage of renters, long-term housing pressure tends to be more pronounced. This is because renters often have less financial flexibility compared to homeowners, leading to increased competition for available units and potentially driving up rental prices over time. Additionally, a significant renter population can indicate a transient community or a mix of young professionals and families who prefer renting over buying. Both scenarios suggest that landlords in ZIP 93066 can expect steady demand for rental properties, which is beneficial for maintaining occupancy rates and rental income stability.
In summary, ZIP 93066 appears to be a market characterized by strong demand supported by high median home values, with rental prices closely aligned with the fair market rate. The substantial renter share points towards ongoing housing pressure, making it a viable investment for landlords and small-portfolio investors seeking consistent returns. The market dynamics favor landlords who can offer well-maintained, competitively priced properties, ensuring they remain attractive to tenants in this active rental environment.
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.