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 | $2,280 |
| 1 Bedroom | $2,680 |
| 2 Bedrooms | $3,280 |
| 3 Bedrooms | $4,290 |
| 4 Bedrooms | $4,830 |
| 5 Bedrooms | $5,603 |
| 6 Bedrooms | $6,275 |
| 7 Bedrooms | $6,777 |
| 8 Bedrooms | $7,116 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,680 | $841,327 | 0.32% | F |
| 2BR | $3,280 | $1,005,408 | 0.33% | F |
| 3BR | $4,290 | $1,314,169 | 0.33% | F |
| 4BR | $4,830 | $1,600,258 | 0.3% | F |
| 5BR | $5,603 | $1,909,620 | 0.29% | F |
U.S. Census Bureau data (2024)
Fairfax, CA, located in ZIP code 94930, is characterized by a relatively small population of 8,406 residents, where approximately 30.2% of the inhabitants are renters. The area boasts a high median household income of $145,362, reflecting a generally affluent community. Median home values in the region stand at $1,218,984, indicating a premium real estate market.
The economic landscape for rental properties in Fairfax is favorable, with the Fair Market Rent (FMR) for ZIP 94930 set at $3,040 for fiscal year 2024. This figure contrasts with the actual market rent, which is slightly higher at $3,125 (ZORI). This suggests that landlords participating in the Section 8 program can expect to receive rents that are close to market rates, minimizing the financial gap between government subsidies and tenant contributions.
Given these conditions, ZIP 94930 is well-suited for both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the proximity of FMR to market rent means that they can manage properties with minimal risk of significant financial loss. On the other hand, value-add buyers might find opportunities to improve property quality and increase rents above the FMR, leveraging the affluent nature of the community and the high median home values.
Investors should note that while the rent differential is modest, the overall economic health of the area supports steady demand for rental units. This balance makes Fairfax an attractive location for those looking to enter or expand their presence in the Section 8 housing market.
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.