Location: San Francisco, CA | Metro: San Francisco, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,740 |
| 1 Bedroom | $3,190 |
| 2 Bedrooms | $3,930 |
| 3 Bedrooms | $5,140 |
| 4 Bedrooms | $5,780 |
| 5 Bedrooms | $6,705 |
| 6 Bedrooms | $7,510 |
| 7 Bedrooms | $8,111 |
| 8 Bedrooms | $8,517 |
The Fair Market Rent (FMR) for ZIP code 94026 in fiscal year 2024 is set at $3600. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 program. It's important to note that this is not the actual rent you will receive; rather, it's the ceiling for what tenants can be charged. The actual rent received will be based on the tenant's income and other factors, but it cannot exceed this FMR.
Comparing this to the local median rent of N/A, you might find that the FMR is either above or below the typical market rate. However, since the local median rent is currently not available, we'll focus on the demand aspect. In ZIP 94026, the percentage of renters is N/A%, indicating a significant portion of the population relies on rental housing. This suggests there is a steady demand for rental properties, which could be beneficial for those looking to enter the Section 8 market.
The acquisition cost for properties in this area is estimated at N/A. This means that when purchasing a property to convert into a Section 8 rental, you should expect to pay around this amount. Keep in mind that this cost does not include any potential renovation expenses or other upfront costs that might be necessary to bring the property up to Section 8 standards.
Before committing to a Section 8 rental in ZIP 94026, ensure that the property meets all the necessary requirements for participation in the program. Specifically, verify that the property passes the Housing Quality Standards (HQS) inspection. This is a critical step because failing to meet these standards can result in disqualification from the program, even if the property is otherwise suitable for renting.
In summary, the FMR of $3600 provides a clear guideline for pricing your rental unit under Section 8. With a high percentage of renters and steady demand, ZIP 94026 appears to be a viable market for your first Section 8 rental. Ensure the property meets HQS to avoid any issues once you've made your investment.
Data Sources: FMR data from HUD (2027).
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.