Section 8 Fair Market Rent (FMR) for ZIP 93067 - 2027

Location: Santa Maria-Santa Barbara, CA | Metro: Santa Maria-Santa Barbara, CA MSA

Investment Score for ZIP 93067

Monthly Rent (2BR)

$3,430

Median Price (2BR)

$1,932,760

1% Rule

0.18%

Annual Yield

2.13%

Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)

FY 2027 Fair Market Rent Rates

Unit Size	Monthly FMR
Studio	$2,730
1 Bedroom	$2,990
2 Bedrooms	$3,430
3 Bedrooms	$4,460
4 Bedrooms	$5,030
5 Bedrooms	$5,835
6 Bedrooms	$6,535
7 Bedrooms	$7,058
8 Bedrooms	$7,411

Investment Analysis by Bedroom Size

Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)

Bedrooms	Monthly FMR	Median Price	1% Rule	Grade
2BR	$3,430	$1,932,760	0.18%	F
3BR	$4,460	$2,944,981	0.15%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

1,101

Median Household Income

$71,134

Housing Units

637

Renter Percentage

44.3%

Occupancy Rate

79.4%

Renter Occupied

224

Summerland, CA, located in ZIP code 93067, is a charming residential community situated along the Santa Ynez River, offering picturesque landscapes and a serene environment. This area is particularly attractive to retirees and families due to its relaxed lifestyle and proximity to both Santa Barbara and Los Angeles.

The Fair Market Rent (FMR) for ZIP 93067 in fiscal year 2024 is set at $4230, providing a benchmark for rental pricing.
The median home value in Summerland is significantly high at $2,515,634, reflecting the premium nature of the housing market.
Renters make up a substantial portion of the local population, with a renter share of 44.3%, indicating a robust demand for rental properties.
The median household income in the area stands at $71,134, suggesting that residents have the financial stability to support higher rental costs.
The Days on Market (DOM) statistic is currently unavailable, but it would be crucial to monitor this metric to gauge how quickly homes are selling in the area.
Given the lack of specific market rent data, investors should closely watch the actual rental prices being charged in the area to align with the FMR and ensure profitability.

The combination of a high median home value and a significant renter share suggests that Summerland presents a valuable opportunity for real estate investors. With a stable median income, tenants can afford higher rents, making the area suitable for those looking to invest in premium rental properties. However, the absence of specific market rent and DOM data highlights the need for further research to fully understand the local real estate dynamics and to make informed investment decisions.

Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.