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 | $1,870 |
| 1 Bedroom | $2,050 |
| 2 Bedrooms | $2,680 |
| 3 Bedrooms | $3,580 |
| 4 Bedrooms | $4,150 |
| 5 Bedrooms | $4,814 |
| 6 Bedrooms | $5,392 |
| 7 Bedrooms | $5,823 |
| 8 Bedrooms | $6,114 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,050 | $659,439 | 0.31% | F |
| 2BR | $2,680 | $824,794 | 0.32% | F |
| 3BR | $3,580 | $1,135,097 | 0.32% | F |
| 4BR | $4,150 | $1,421,584 | 0.29% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 93428, which includes Cambria, California, is set at $2,100 for fiscal year 2024. This figure represents the payment standard for Section 8 housing vouchers in your area. It's important to note that this is not the amount you will charge for rent; rather, it's the maximum amount that a voucher holder can be subsidized.
According to recent Census data (ACS), the average rent in Cambria is $1,912. This means that the FMR slightly exceeds the typical market rent, providing a buffer for landlords who might otherwise find themselves underpaid if they were to rely solely on the market rate.
In Cambria, about 21.9% of residents are renters. This indicates a significant but not overwhelming demand for rental properties. Given the FMR and the percentage of renters, there is a reasonable pool of potential tenants who could benefit from Section 8 vouchers.
The median home value in Cambria is approximately $1,009,445. For those considering purchasing a property to rent out through Section 8, this figure provides a benchmark for acquisition costs. While the initial investment is high, the steady income from the Section 8 program can offer financial stability and a predictable return.
Before committing to a Section 8 rental property, verify that the property meets all the necessary housing quality standards (HQS). These standards ensure that the unit is safe, decent, and sanitary, and failure to meet these criteria can result in penalties or loss of tenancy.
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.