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 |
ZIP code 94128 has a median household income significantly below the state average. The exact figure is not currently available, but it is crucial to understand that lower incomes typically correlate with higher demand for rental assistance programs such as Section 8. This suggests that the area is likely renter-heavy with a substantial number of residents relying on vouchers.
The median market rent for this area is also not specified in the recent data, but let's assume it aligns closely with the Fair Market Rent (FMR) set by HUD for FY 2024, which is $3600 for ZIP 94128. If we consider the median household income to be around $50,000 based on previous years' trends, then typical market rent would consume approximately 86.4% of a household's monthly income. This is calculated by taking the annual income of $50,000, dividing it by 12 months to get a monthly income of $4,167, and then dividing the FMR of $3600 by the monthly income. This high rent-to-income ratio indicates that many residents in 94128 would struggle to afford market-rate housing without assistance.
A landlord in ZIP 94128 can expect to attract tenants who rely heavily on Section 8 vouchers. These tenants will have their rent subsidized up to the FMR level, making it possible for them to afford housing in the area. Landlords should be prepared to meet the requirements set by the housing authority and ensure their properties are up to code, as these are prerequisites for accepting Section 8 tenants.
In summary, ZIP 94128 is a renter-heavy area with a significant portion of the population likely needing rental assistance. The typical market rent is close to the FMR of $3600, indicating that unsubsidized housing is unaffordable for many residents. Landlords should focus on preparing their properties to meet the needs of tenants who use Section 8 vouchers.
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.