Location: San Francisco, CA | Metro: San Francisco, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,510 |
| 1 Bedroom | $2,930 |
| 2 Bedrooms | $3,600 |
| 3 Bedrooms | $4,710 |
| 4 Bedrooms | $5,300 |
| 5 Bedrooms | $6,148 |
| 6 Bedrooms | $6,886 |
| 7 Bedrooms | $7,437 |
| 8 Bedrooms | $7,809 |
U.S. Census Bureau data (2024)
The ZIP code 94074 stands out due to its unique characteristics among the county's ZIP codes. With only 126 residents, it has a very low population density, which is uncommon for most urban areas. However, despite the small number of residents, 34.3% of them rent their homes, indicating a significant portion of the housing market is dedicated to rental properties. The median income for this ZIP is notably high at $250,001, suggesting that residents have substantial financial resources. Yet, the lack of data on median home values suggests that either there are few owner-occupied homes or the data is incomplete, which could be a factor influencing the local real estate dynamics.
Moving into the specifics of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 94074 is set at $3290 for the fiscal year 2024. This figure represents the amount that the federal government deems adequate for a landlord to receive from a tenant using a Section 8 voucher. Without a specific market rent figure, it's challenging to compare the FMR directly to the local rental rates, but the high median income implies that tenants might also have additional funds beyond the voucher to cover higher rents if necessary.
Given the data available, the ZIP code 94074 appears to be in a transitional state. The high median income alongside a significant percentage of renters suggests a shift towards more affordable rental options or a preference for renting over buying. Additionally, the limited data on median home values indicates potential changes in the ownership structure or an emerging trend in the real estate market that warrants further investigation.
Landlords and small-portfolio investors should consider these factors when deciding to accept Section 8 vouchers. While the high median income provides a positive outlook on the financial stability of potential tenants, the low population density and the transitional nature of the market suggest that careful analysis of the demand for rental units and the competition from other housing types is essential before making investment decisions.
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.