Section 8 Fair Market Rent (FMR) for ZIP 93190 - 2027

FY 2027 Fair Market Rent Rates

The ZIP code 93190 in California presents a unique set of considerations for landlords and small-portfolio investors interested in Section 8 properties. The Fair Market Rent (FMR) for this area is set at $2990 for the fiscal year 2024.

Step 1: Can the FMR cover your debt service? This question is crucial because it determines whether the rental income from a Section 8 tenant will be sufficient to meet the mortgage payments and other expenses associated with owning a property. Unfortunately, the specific debt service figure for a property in ZIP 93190 is not provided, making it impossible to give a definitive yes or no answer. However, if you know your debt service amount, you can compare it directly to the FMR of $2990 to determine feasibility.

Step 2: How does the market rent compare to the FMR? In ZIP 93190, the market rent information is currently unavailable. To make an informed decision, you would need to research local rental rates to see if they are above, at, or below the FMR. If market rents are significantly higher than the FMR, you might consider whether the potential loss in income from accepting Section 8 tenants is worth the guaranteed stability and reduced vacancy risk.

Step 3: Is there enough demand for rentals? The percentage of renters and the days on market (DOM) are key indicators of demand. However, these figures are also not available for ZIP 93190. A high percentage of renters combined with a low DOM suggests strong demand, which could support the viability of a Section 8 property. Conversely, low demand might indicate that securing tenants could be challenging.

To summarize, the decision to invest in ZIP 93190 for Section 8 properties hinges on three primary factors: the ability of the FMR to cover your debt service, the relationship between the FMR and local market rents, and the strength of rental demand in the area. With the FMR at $2990, you must ensure that this amount meets or exceeds your financial obligations and that there is a sufficient number of potential tenants to fill your units. Without specific data on debt service, market rents, and rental demand, the decision ultimately depends on the landlord's individual circumstances and the additional research they conduct into these metrics.

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.