Location: Santa Maria-Santa Barbara, CA | Metro: Oxnard-Thousand Oaks-Ventura, CA MSA
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,730 |
| 1 Bedroom | $2,990 |
| 2 Bedrooms | $3,430 |
| 3 Bedrooms | $4,400 |
| 4 Bedrooms | $5,030 |
| 5 Bedrooms | $5,835 |
| 6 Bedrooms | $6,535 |
| 7 Bedrooms | $7,058 |
| 8 Bedrooms | $7,411 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,990 | $735,369 | 0.41% | F |
| 2BR | $3,430 | $932,220 | 0.37% | F |
| 3BR | $4,400 | $1,544,471 | 0.28% | F |
| 4BR | $5,030 | $1,877,183 | 0.27% | F |
| 5BR | $5,835 | $3,306,289 | 0.18% | F |
U.S. Census Bureau data (2024)
The ZIP code 93013, located in Carpinteria, CA, is home to 16,317 residents, with 39.0% being renters. This indicates a significant rental market presence, though it leans more towards a balanced mix rather than being overwhelmingly renter-heavy. The median household income stands at $110,359, which provides context for the local economic conditions.
Market rent in this area is $4,894 per month, representing approximately 44.4% of the median household income when annualized. This suggests that a substantial portion of income is dedicated to housing costs, potentially making affordability a key issue for many tenants.
In comparison, the Fair Market Rent (FMR) for ZIP 93013, as set by HUD for FY 2024, is $3,480. This is significantly lower than the market rent, indicating a gap between the actual rental rates and what is considered fair by federal standards. Landlords should be aware that this discrepancy can affect the availability and use of Section 8 vouchers, as they are typically capped at the FMR level.
The difference between the market rent and FMR highlights the challenge faced by low-income families seeking affordable housing. Given the high market rent and the relatively lower FMR, there is likely a strong demand for Section 8 vouchers among potential tenants. However, the overall rental population percentage suggests that while there is demand, it might not be as deep as in areas with higher percentages of renters.
A landlord in Carpinteria should expect tenants who are primarily relying on Section 8 vouchers due to the high cost of living. These tenants will have incomes below 50% of the Area Median Income (AMI), which in this case would be less than $55,180 annually. It's important to note that tenants using vouchers will have their rent subsidized up to the FMR, meaning landlords must ensure their properties meet HUD standards and are willing to accept a lower rent rate than the market average.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). Demographics from U.S. Census (2024).
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.