Section 8 Fair Market Rent (FMR) for ZIP 94027 - 2027

Location: San Francisco, CA | Metro: San Francisco, CA HUD Metro FMR Area

Investment Score for ZIP 94027

N/A

Monthly Rent (2BR)

$4,160

Median Price (2BR)

$N/A

1% Rule

Annual Yield

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	$2,900
1 Bedroom	$3,380
2 Bedrooms	$4,160
3 Bedrooms	$5,440
4 Bedrooms	$6,110
5 Bedrooms	$7,088
6 Bedrooms	$7,939
7 Bedrooms	$8,574
8 Bedrooms	$9,003

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
3BR	$5,440	$5,415,983	0.1%	F
4BR	$6,110	$7,359,561	0.08%	F
5BR	$7,088	$11,825,746	0.06%	F

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Population

7,002

Median Household Income

$250,001

Housing Units

2,676

Renter Percentage

12.4%

Occupancy Rate

83.6%

Renter Occupied

277

ZIP code 94027, located in the heart of Atherton, California, is known for its high-end residential properties and affluent lifestyle. This area is particularly attractive to investors looking to capitalize on the strong demand for rental properties among the wealthy residents who prefer leasing over purchasing.

The Fair Market Rent (FMR) for ZIP 94027 in fiscal year 2024 is set at $3710, providing a benchmark for rental pricing that landlords should consider.
The average market rent based on Census ACS data stands at $3,501, slightly below the FMR but still indicative of robust rental values.
The median home value in this zip code is exceptionally high at $8,078,219, reflecting the luxury nature of the housing market.
Renters make up only 12.4% of the population, suggesting a niche market but also highlighting the potential for premium rents due to limited supply.
The median household income in ZIP 94027 is $250,001, which supports the ability of residents to afford high rental rates.
While the exact number of days on market (DOM) is not available, the high-income demographic and the scarcity of rental units imply a quick turnover for well-priced listings.

The combination of a high median home value, substantial median income, and relatively low renter share indicates that while the rental market in ZIP 94027 is competitive, it offers significant opportunities for landlords and small-portfolio investors willing to target the upper echelon of renters. The FMR and market rent figures provide a solid range for setting rental prices that will attract tenants without leaving money on the table. Given the affluent nature of the area, properties that offer premium amenities and are priced accordingly can expect to fill quickly despite the overall low percentage of renters.

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.