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San Diego County/San Diego/92121

92121

ZIPSAFMR
San Diego County, CA
Zillow

ZIP Investment Score

91Below average

095130300
BRFMR
Eff. Rent
0 BR$2,550$2,590
1 BR$2,720$2,840
2 BR$3,290$3,610
3 BR$4,360$4,610
4 BR$5,280$5,560
5 BR$6,072Not available
6 BR$6,983Not available
7 BR$8,030Not available
8 BR$9,235Not available

Purchase Price Calculator

Maximum purchase price
$474,528

Cost breakdown

+Likely effective rent$3,610
HUD FMR$3,290
Market rent$3,780
Est. payment standard (110%)Used$3,610
-Principal and interest-$2,399
Loan amount$379,622
Down payment$94,906
Rate6.50%
Term30 years
-Operating costs-$1,011
Property taxes-$475
Insurance-$175
Utilities$0
HOA$0
Management-$361
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$57,288(60.4% ROI)
Projected value
$511,015
Return breakdown
Property appreciation+$36,487
Loan principal paid down+$13,601
Rental cash flow+$7,200
5-year hold
+$98,611(103.9% ROI)
Projected value
$536,885
Return breakdown
Property appreciation+$62,357
Loan principal paid down+$24,254
Rental cash flow+$12,000
10-year hold
+$214,701(226.2% ROI)
Projected value
$607,436
Return breakdown
Property appreciation+$132,908
Loan principal paid down+$57,793
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.98
1 BR
0.93
2 BR
0.87
3 BR
0.92
4 BR
0.92
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 92121 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 92121 (San Diego, CA) is $3,290 a month. That is down 6.5% from $3,520 in FY 2026. San Diego 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, 92121 is tied for the 34th-highest two-bedroom rent (county range $1,750–$4,230). The median county two-bedroom FMR in California is $1,725, so ZIP 92121 is 91% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 92121
BedroomsFY 2027Change90–110% range
Studio$2,550−4.9%$2,295–$2,805
1BR$2,720−5.6%$2,448–$2,992
2BR$3,290−6.5%$2,961–$3,619
3BR$4,360−7.0%$3,924–$4,796
4BR$5,280−7.0%$4,752–$5,808

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 92121
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,550$2,720$3,290$4,360$5,280
FY 2026$2,680$2,880$3,520$4,690$5,680
FY 2025$2,520$2,740$3,390$4,530$5,520
FY 2024$2,440$2,660$3,350$4,520$5,480
FY 2023$2,060$2,260$2,880$3,940$4,790

Two-bedroom rent in nearby San Diego County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 92121
92115$2,650−19.5%
92116$2,860−13.1%
92117$2,810−14.6%
92118$4,230+28.6%
92119$2,940−10.6%
92120$3,110−5.5%
92121Current$3,290—
92122$3,700+12.5%
92123$3,590+9.1%
92124$4,010+21.9%
92126$3,480+5.8%
92127$3,410+3.6%

Questions about ZIP 92121 rents

How much will Section 8 pay for a two-bedroom in ZIP 92121?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,290, that basic range is $2,961 to $3,619 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 92121 in?

ZIP 92121 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 92121 for FY 2027?

The two-bedroom FMR fell 6.5%, from $3,520 in FY 2026 to $3,290 in FY 2027. Since FY 2023 it has risen 14.2%.

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 rentSan Diego, CA fair market rentCA statewide rentsWhat is SAFMR?Data sources