Location: San Francisco, CA | Metro: San Francisco, CA HUD Metro FMR Area
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 | $2,240 |
| 1 Bedroom | $2,680 |
| 2 Bedrooms | $3,250 |
| 3 Bedrooms | $4,160 |
| 4 Bedrooms | $4,680 |
| 5 Bedrooms | $5,429 |
| 6 Bedrooms | $6,080 |
| 7 Bedrooms | $6,566 |
| 8 Bedrooms | $6,894 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,680 | $616,443 | 0.43% | F |
| 2BR | $3,250 | $1,002,871 | 0.32% | F |
| 3BR | $4,160 | $1,570,817 | 0.26% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 94102 in San Francisco, California, for fiscal year 2024 is set at $2,870. This figure represents the maximum amount that a landlord can charge for a Section 8 rental unit in this area. It's important to note that this is not the rent you will receive; it's the payment standard used by the housing authority to determine the subsidy amount.
To put this into perspective, the Zillow Observed Rent Index (ZORI) for ZIP 94102 currently stands at $3,200. This means that if you're considering a Section 8 rental in this area, your income from the rental will be lower than the average market rent by about $330 per month. However, the demand for rental properties in this ZIP code is high, with 92.0% of residents being renters. This indicates a strong market for rentals, making it likely that you'll find tenants quickly.
The median home value in this ZIP code is approximately $718,321. This is the typical price you would expect to pay for acquiring a property in this area. Given the high demand for rentals and the relatively lower FMR compared to the market rent, participating in the Section 8 program can still be a viable option for landlords and small-portfolio investors.
Before deciding to participate in the Section 8 program with a property in ZIP 94102, ensure that the property meets all the required inspection standards set by the housing authority. This includes safety, habitability, and maintenance criteria, which are essential for approval and to avoid any penalties or issues later on.
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.