Section 8 Fair Market Rent (FMR) for ZIP 94580 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 94580

• Oakland Housing Authority (Oakland, CA) - 14,343 Section 8 vouchers
• Housing Authority of the County of Alameda (Hayward, CA) - 7,132 Section 8 vouchers
• BERKELEY HOUSING AUTHORITY (Berkeley, CA) - 2,135 Section 8 vouchers
• CITY OF ALAMEDA HOUSING AUTHORITY (Alameda, CA) - 2,059 Section 8 vouchers
• HSG AUTH OF THE CITY OF LIVERMORE (Livermore, CA) - 938 Section 8 vouchers
• Housing Authority of the City of Pleasanton (Pleasanton, CA)

The area surrounding ZIP code 94580, located in San Lorenzo, California, offers a stable rental market with a mix of residential properties catering to both homeowners and renters. This suburban community is known for its affordability compared to other parts of the Bay Area, making it an attractive option for families and individuals seeking a comfortable living environment.

• The Fair Market Rent (FMR) for ZIP 94580 in fiscal year 2024 is set at $2,600. This figure represents the benchmark for affordable housing standards and can influence the eligibility criteria for Section 8 participants.
• The actual market rent, as indicated by the Zillow Observed Rent Index (ZORI), stands at $2,946. This suggests that the local rental market is slightly above the FMR, indicating a modest premium for tenants willing to pay more for desirable units.
• The median home value in the area is $825,114. This reflects the overall property values and can be indicative of the potential investment returns for those looking to purchase real estate in San Lorenzo.
• Renters make up 28.1% of the population, highlighting a significant portion of the community that relies on rental housing. This percentage underscores the demand for rental properties and the importance of maintaining a steady supply.
• The median income for residents in ZIP 94580 is $110,729. This level of income suggests that the area attracts middle to upper-middle-class families, who may prefer larger homes and may be able to afford higher rents.
• The Days on Market (DOM) data is currently N/A, which means there is insufficient information to determine how quickly properties are being leased or sold. However, the other metrics provide a comprehensive view of the rental market's health.

The combination of a slightly above-average market rent compared to the FMR, coupled with a median home value of over $800,000, indicates a healthy rental market with opportunities for both landlords and small-portfolio investors. The substantial renter share of 28.1% ensures consistent demand for rental properties, while the median income of $110,729 supports the ability of residents to meet higher rental costs. Although the lack of DOM data prevents us from assessing the speed at which properties are leased, the overall financial stability and rental dynamics of San Lorenzo present a favorable environment for real estate investments.

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.