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 | $1,820 |
| 1 Bedroom | $2,000 |
| 2 Bedrooms | $2,610 |
| 3 Bedrooms | $3,490 |
| 4 Bedrooms | $4,040 |
| 5 Bedrooms | $4,686 |
| 6 Bedrooms | $5,248 |
| 7 Bedrooms | $5,668 |
| 8 Bedrooms | $5,951 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,000 | $438,327 | 0.46% | F |
| 2BR | $2,610 | $570,555 | 0.46% | F |
| 3BR | $3,490 | $785,209 | 0.44% | F |
| 4BR | $4,040 | $996,779 | 0.41% | F |
| 5BR | $4,686 | $1,235,196 | 0.38% | F |
U.S. Census Bureau data (2024)
The market in ZIP 93422, Atascadero, CA, reflects a dynamic equilibrium between supply and demand. With a Fair Market Rent (FMR) set at $2,020 for fiscal year 2024, it's clear that the government recognizes the need to support renters in this area. The actual market rent, as indicated by the Zillow Observed Rent Index (ZORI), stands at $2,343, suggesting that the private rental market is slightly above the FMR threshold.
A key indicator of market health is the price-cut share, which is currently at 0.2%. This low percentage implies that landlords are generally not needing to reduce their asking rents to attract tenants, indicating strong demand relative to supply. Additionally, the days on market (DOM) for properties is 19 days, a figure that points towards brisk sales activity and an efficient market where homes are quickly absorbed.
The median home value in Atascadero is $785,545, a significant sum that underscores the economic status of homeowners in the area. However, the renter share is noteworthy at 34.4%. This substantial proportion of renters suggests ongoing pressure on the housing market, as a large segment of the population relies on rental properties rather than owning. This dynamic can lead to persistent demand for rental units, potentially influencing future rental rates and property values.
In summary, the market in Atascadero appears to be one where demand closely follows supply, if not slightly outpacing it. The low price-cut share and quick turnover times indicate a robust rental market. The high renter share signals a long-term trend that could keep rental demand steady, even as the broader housing market fluctuates. Landlords and small-portfolio investors should consider these factors when making investment decisions in this area.
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.