Location: Santa Maria-Santa Barbara, CA | Metro: Santa Maria-Santa Barbara, 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 | $2,840 |
| 1 Bedroom | $3,110 |
| 2 Bedrooms | $3,560 |
| 3 Bedrooms | $4,570 |
| 4 Bedrooms | $5,220 |
| 5 Bedrooms | $6,055 |
| 6 Bedrooms | $6,782 |
| 7 Bedrooms | $7,325 |
| 8 Bedrooms | $7,691 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $4,570 | $1,622,201 | 0.28% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 93441 in fiscal year 2024 is set at $3570. This figure represents the payment standard for Section 8 properties in the area and does not reflect the actual rent paid by individual tenants. Instead, it serves as an upper limit for the Housing Choice Voucher Program, ensuring that rents are reasonable and affordable.
In comparison, the average rent for ZIP 93441, according to recent Census American Community Survey (ACS) data, is $2,194. This indicates that the FMR is significantly higher than the typical market rent, which can be advantageous for landlords looking to secure steady income through the voucher program.
The demand for rental properties in this ZIP code is supported by the fact that 11.6% of the population are renters. This translates into a substantial number of potential tenants who could benefit from Section 8 vouchers. To put this into perspective, if you were to acquire a property in this area, the median price for homes is around $1,744,300. This high acquisition cost means that securing a stable rental income through the Section 8 program could be particularly beneficial for recouping your investment over time.
Before proceeding with a Section 8 rental in ZIP 93441, it is crucial to verify that the property meets all the required standards set by the local housing authority. These standards ensure that the living conditions are safe and habitable for tenants, and failing to meet these requirements could result in disqualification from the program.
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.