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 |
The Section 8 market analysis for ZIP code 93099 reveals that the Fair Market Rent (FMR) set by the Department of Housing and Urban Development (HUD) for fiscal year 2024 is $2410. However, without specific data on the current market rent for this area, it's challenging to provide a direct comparison. This lack of comparative market data makes it difficult to determine exactly how voucher tenants will perform in terms of cashflow. Typically, when the HUD FMR aligns closely with the market rent, voucher tenants can cashflow at the FMR rate. If the market rent exceeds the FMR significantly, then voucher tenants might only cashflow marginally or require premium units to achieve positive cashflow.
The median home value for ZIP 93099 is also not available, which means we cannot accurately calculate the rent-to-price ratio. This ratio is crucial for understanding the relative affordability of renting versus buying in an area. Without this information, we cannot fully assess the rent-vs-buy dynamics and their impact on the local real estate market.
Additionally, the number of days on market (DOM) and the percentage of price cuts are not provided, making it impossible to gauge how quickly properties sell and at what discount. These factors can influence investment decisions by providing insight into the stability and potential appreciation of property values in the area.
In conclusion, the strongest investor angle in ZIP 93099 appears to be cashflow, given the established HUD FMR. However, the absence of critical market data such as current market rents and median home values limits a comprehensive analysis of the full investment landscape. For a complete understanding, landlords and small-portfolio investors should seek out recent market reports to make informed decisions about rental pricing and property acquisitions.
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.