Location: San Luis Obispo-Paso Robles, CA | Metro: San Luis Obispo-Paso Robles, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,890 |
| 1 Bedroom | $2,080 |
| 2 Bedrooms | $2,720 |
| 3 Bedrooms | $3,630 |
| 4 Bedrooms | $4,210 |
| 5 Bedrooms | $4,884 |
| 6 Bedrooms | $5,470 |
| 7 Bedrooms | $5,908 |
| 8 Bedrooms | $6,203 |
The ZIP code 93443, located in Morro Bay, CA, within the San Luis Obispo-Paso Robles, CA MSA, is best suited as an appreciation play within a Section 8 portfolio strategy. The Fair Market Rent (FMR) for ZIP 93443 in fiscal year 2024 is set at $2270. This figure serves as a benchmark for rental rates in the area.
According to recent data, the median home value in ZIP 93443 is $168,610. While this figure is lower than the national average, it suggests that there is potential for appreciation. The area's relatively low home values combined with a stable rental market indicate that properties in this ZIP code could see an increase in value over time.
ZIP 93443 is not particularly well-suited as a cash-flow anchor because the median home value does not provide a significant spread above the FMR. However, given the stability of the rental market and the potential for property value appreciation, it can be considered a strategic investment for those looking to build long-term equity.
In summary, ZIP 93443 should be viewed as an appreciation play within a Section 8 portfolio. The combination of a stable rental market and relatively low median home values makes it a good choice for investors looking to capitalize on future increases in property value.
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.