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 |
2270 The Fair Market Rent (FMR) for ZIP code 93483 in fiscal year 2024 is set at $2270. This figure represents the maximum amount that landlords can charge for a unit to be eligible under the Section 8 program. While the specific market rent for this area is currently unavailable, it's important to note that the FMR is designed to reflect the average rent for a modest apartment in the area. Landlords should ensure their rental rates align closely with this benchmark to remain competitive and compliant with the program.
2270 Additionally, the median home value and median income data for ZIP 93483 are not available at this time. However, the absence of these figures does not diminish the importance of adhering to the $2270 FMR guideline. This standard helps maintain affordability for low-income families while providing a stable income stream for landlords. It's also worth noting that the percentage of renters and the days on market (DOM) statistics are currently not reported, which could indicate a lack of recent data or activity in the rental market.
2270 Regarding the percentage of price-cut share, the data is also not available. This metric typically indicates how often landlords reduce their asking price to match the FMR, which can be an indicator of market competitiveness and landlord willingness to participate in the Section 8 program. Despite the missing details, the $2270 FMR remains a critical figure for landlords and small-portfolio investors in ZIP 93483.
2270 In conclusion, landlords in ZIP 93483 must set their rents at or below $2270 to qualify for the Section 8 program. This ensures compliance with HUD standards and provides a consistent rental income. The lack of additional data points underscores the importance of relying on the FMR as a reliable benchmark for rental pricing. For ZIP 93483, the Section 8 program offers a clear path forward for maintaining a steady and affordable rental market.
2270 Verdict: ZIP 93483 landlords should adhere to the $2270 FMR to maximize participation in the Section 8 program.
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.