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San Diego County/Fallbrook/92028

92028

ZIPSAFMR
San Diego County, CA
Zillow

ZIP Investment Score

65Below average

095130300
BRFMR
Eff. Rent
0 BR$1,790$1,910
1 BR$1,900$2,000
2 BR$2,300$2,530
3 BR$3,050$3,260
4 BR$3,690$3,930
5 BR$4,244Not available
6 BR$4,880Not available
7 BR$5,612Not available
8 BR$6,454Not available

Purchase Price Calculator

Maximum purchase price
$314,040

Cost breakdown

+Likely effective rent$2,530
HUD FMR$2,300
Market rent$2,950
Est. payment standard (110%)Used$2,530
-Principal and interest-$1,588
Loan amount$251,232
Down payment$62,808
Rate6.50%
Term30 years
-Operating costs-$742
Property taxes-$314
Insurance-$175
Utilities$0
HOA$0
Management-$253
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$40,348(64.2% ROI)
Projected value
$338,187
Return breakdown
Property appreciation+$24,147
Loan principal paid down+$9,001
Rental cash flow+$7,200
5-year hold
+$69,319(110.4% ROI)
Projected value
$355,308
Return breakdown
Property appreciation+$41,267
Loan principal paid down+$16,051
Rental cash flow+$12,000
10-year hold
+$150,205(239.1% ROI)
Projected value
$401,998
Return breakdown
Property appreciation+$87,958
Loan principal paid down+$38,247
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.91
1 BR
0.92
2 BR
0.78
3 BR
0.90
4 BR
0.91
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 92028 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 92028 (Fallbrook, CA) is $2,300 a month. That is down 5.7% from $2,440 in FY 2026. Fallbrook is in the San Diego-Chula Vista-Carlsbad, CA MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 174 ZIP codes in San Diego County, 92028 has the 161st-highest two-bedroom rent (county range $1,750–$4,230). The median county two-bedroom FMR in California is $1,725, so ZIP 92028 is 33% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 92028
BedroomsFY 2027Change90–110% range
Studio$1,790−3.8%$1,611–$1,969
1BR$1,900−5.0%$1,710–$2,090
2BR$2,300−5.7%$2,070–$2,530
3BR$3,050−6.2%$2,745–$3,355
4BR$3,690−6.3%$3,321–$4,059

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 92028
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,790$1,900$2,300$3,050$3,690
FY 2026$1,860$2,000$2,440$3,250$3,940
FY 2025$1,660$1,800$2,230$2,980$3,630
FY 2024$1,560$1,700$2,140$2,890$3,500
FY 2023$1,350$1,490$1,890$2,580$3,140

Two-bedroom rent in nearby San Diego County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 92028
92020$2,510+9.1%
92021$2,440+6.1%
92022$2,820+22.6%
92023$2,820+22.6%
92024$3,680+60.0%
92025$2,590+12.6%
92026$2,800+21.7%
92027$2,500+8.7%
92028Current$2,300—
92029$3,030+31.7%
92030$2,820+22.6%
92033$2,820+22.6%

Questions about ZIP 92028 rents

How much will Section 8 pay for a two-bedroom in ZIP 92028?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $2,300, that basic range is $2,070 to $2,530 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 92028 in?

ZIP 92028 is in the San Diego-Chula Vista-Carlsbad, CA MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 92028 for FY 2027?

The two-bedroom FMR fell 5.7%, from $2,440 in FY 2026 to $2,300 in FY 2027. Since FY 2023 it has risen 21.7%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set

County fair market rentFallbrook, CA fair market rentCA statewide rentsWhat is SAFMR?Data sources