Location: San Luis Obispo-Paso Robles, CA | Metro: San Luis Obispo-Paso Robles, 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 | $1,910 |
| 1 Bedroom | $2,090 |
| 2 Bedrooms | $2,740 |
| 3 Bedrooms | $3,660 |
| 4 Bedrooms | $4,240 |
| 5 Bedrooms | $4,918 |
| 6 Bedrooms | $5,508 |
| 7 Bedrooms | $5,949 |
| 8 Bedrooms | $6,246 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,090 | $610,927 | 0.34% | F |
| 2BR | $2,740 | $749,332 | 0.37% | F |
| 3BR | $3,660 | $915,780 | 0.4% | F |
| 4BR | $4,240 | $1,187,800 | 0.36% | F |
U.S. Census Bureau data (2024)
ZIP 93402, located in Los Osos, CA, within the San Luis Obispo-Paso Robles, CA MSA, is best categorized as a cash-flow anchor. This designation is based on the alignment between the Fair Market Rent (FMR) set by HUD for FY 2024 and the local market rents, which stand at $2330 and $2321 respectively. The negligible spread of just $9 between these two figures ensures that landlords can maintain consistent cash flows without the risk of significant rent reductions.
The median home value in ZIP 93402 is $867,077, indicating a relatively high-end residential market. However, the primary focus for Section 8 landlords should be on the rental dynamics rather than the home values, as the program is designed to subsidize rental housing for low-income families.
ZIP 93402's 0.2% price-cut share and N/A-day days on market (DOM) suggest that properties here are generally priced correctly and sell quickly when listed. This stability further supports the notion that 93402 serves as a reliable cash-flow anchor for Section 8 portfolios, as it minimizes the risks associated with prolonged vacancies or the need to lower rental prices.
The median income of $109,090 in ZIP 93402 also points towards a stable economic environment, where tenants are less likely to face financial hardships that could jeopardize their ability to pay rent. This stability is crucial for maintaining steady cash flows, especially important for Section 8 properties where the government covers a portion of the rent but timely payments from tenants are still necessary.
A cash-flow anchor is essential for any real estate investment strategy, providing a foundation of predictable income. ZIP 93402 offers this predictability through its close alignment of FMR and market rents, quick property sales, and a stable economy. Landlords and small-portfolio investors should consider adding properties in this ZIP code to their portfolios to ensure long-term financial security.
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.