ZIP Code · CA

ZIP 92028

Part of Fallbrook, CA

Pop. 52,227·San Diego County·376th most expensive ZIP in California

Median rent (all units)

$2,915/mo

Year-over-Year

+8.7%

Month-over-Month

+1.5%

vs US Median

+$983

Reported rents

Rising (Monthly)

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Most AffordableMost Expensive

ZIP 92028 · $2,915

More expensive than 89% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,860

1 BR

$2,000

2 BR

$2,440

3 BR

$3,250

4 BR+

$3,940

Research median

$2,440/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

Compared with the peak

Rent in ZIP 92028 is at its highest level since Zillow's records here began in December 2021.

Past year vs. the rest of California

Rent in ZIP 92028 changed +8.7% over the year to September 2026. Across the 819 California ZIP codes Zillow tracks, the typical change was +3.2%.

Recent direction

Rent has risen 3 months in a row, and rose in 8 of the last 12 months.

What a typical income covers

30% of the median household income ($111,290) is $2,782 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($2,440); a 3-bedroom is $3,250.

From Zillow's monthly rent index (ZORI) for ZIP 92028. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$34,980/yr

At $2,915/mo median

Location

CityFallbrook

StateCA

CountySan Diego County

Rent Market Meter

Strong Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are up 8.7% year-over-year. Expect competition, and move quickly to lock in terms.

Based on rent-price momentum (+8.7% YoY, +1.5% MoM), not inventory.

Demographics

Who lives here

ZIP 92028 (Fallbrook, CA) is majority owner-occupied, has a median income above the national average, 35.8% of residents hold a bachelor's degree or higher.

Population

52,227

Median income

$111,290

Median age

38.7

Renters

28.5%

Age distribution

24.9%

20%

23.1%

13.1%

18.9%

Under 1824.9%

18–3420%

35–5423.1%

55–6413.1%

65+18.9%

Gender

49.9%

50.1%

Male49.9%

Female50.1%

Race & ethnicity

50.8%

41.7%

White50.8%

Black2.4%

Hispanic41.7%

Asian4%

Other1%

Education (25+)

12.2%

21.4%

30.6%

35.8%

No HS diploma12.2%

HS diploma21.4%

Some college30.6%

Bachelor's+35.8%

Housing tenure

71.5%

28.5%

Owner71.5%

Renter28.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2022 vs 2026

How ZIP 92028 in Fallbrook, CA has changed in 5 years

Rent

$2,360 → $2,915

up 23.5%

Income

$87,754 → $111,290

up 26.8%

Population

50,661 → 52,227

up 3.1%

Renter share

30.2% → 28.5%

-1.7 pts

Bachelor's+

34.1% → 35.8%

+1.7 pts

Median age

39.7 → 38.7

-1.0 yrs

The median rent in ZIP 92028 in Fallbrook, CA stood at $2,360 in 2022 and currently runs about $2,915, reflecting a 23.5% increase over the period. Median household income rose from $87,754 to $111,290 between 2021 and 2024, a 26.8% shift. On paper, paychecks moved up faster than rent, which softens the affordability squeeze versus the 2021 baseline. The population has grown by 3.1% since 2021, moving from about 50,661 residents to roughly 52,227. Renters now make up 28.5% of households, compared with 30.2% five years ago. Taken together, the five-year picture in ZIP 92028 in Fallbrook, CA reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.

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About renting in ZIP 92028

Last updated: October 17, 2026

ZIP code 92028 covers Fallbrook, CA. The median rent here is $2,915/mo as of October 2026. A 1-bedroom rents for a median of $2,000/mo. A 2-bedroom rents for a median of $2,440/mo.

At 31% of local median household income ($111,290/yr), ZIP 92028 ranks as moderate compared to the national benchmark of 30%. Rents have increased 8.7% over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 92028?

To keep rent at or below 30% of gross income, you would need to earn at least $117,000/year (about $56/hour full-time) to afford the median rent of $2,915/mo in ZIP 92028. The local median household income is $111,290/yr, so the typical household falls short of that bar.

Is rent going up or down in ZIP 92028?

Rent in ZIP 92028 has risen 8.7% over the past year as of September 2026. That is the highest level since Zillow's records here began in December 2021.

How does ZIP 92028 compare to other ZIPs in California?

ZIP 92028 is in the middle among California ZIP codes for rent, ranking #376 of 898 at $2,915/mo. Over the year to September 2026, rent in ZIP 92028 changed +8.7%, against a typical +3.2% across the 819 California ZIP codes Zillow tracks.