Section 8 Fair Market Rent (FMR) for ZIP 93460 - 2027

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

FY 2027 Fair Market Rent Rates

Unit Size Monthly FMR
Studio$3,340
1 Bedroom$3,650
2 Bedrooms$4,180
3 Bedrooms$5,370
4 Bedrooms$6,130
5 Bedrooms$7,111
6 Bedrooms$7,964
7 Bedrooms$8,601
8 Bedrooms$9,031

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population
6,039
Median Household Income
$114,139
Housing Units
2,528
Renter Percentage
31.1%
Occupancy Rate
87.3%
Renter Occupied
686

Housing Authorities Serving ZIP 93460

31.1% of residents in ZIP 93460, Santa Ynez, CA, are renters, indicating a significant portion of the population relies on rental housing. The Fair Market Rent (FMR) for the area, as of fiscal year 2024, stands at $3360, which is notably higher than the reported market rent of $2,119 based on Census ACS data. This suggests that landlords participating in the Section 8 program can potentially receive higher rents compared to the general market. With a median home value of $1,838,239, it's evident that homeownership in Santa Ynez comes at a premium, further emphasizing the importance of rental properties. The median income of $114,139 provides insight into the economic status of the area, though it does not directly correlate to the income level of potential Section 8 tenants. The lack of available data on days on market (DOM) and the minimal 0.1% price-cut share indicate that property values are relatively stable and there isn't much fluctuation in pricing strategies among landlords. Given these figures, it's clear that the Section 8 program offers a reliable source of income for landlords willing to participate, as the guaranteed FMR is above the average market rent. However, landlords should be prepared to manage the administrative aspects associated with the program. In conclusion, the Section 8 program remains a viable option for landlords in ZIP 93460.

Data Sources: FMR data from HUD (2027). 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.