Location: San Jose-Sunnyvale-Santa Clara, CA | Metro: San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,400 |
| 1 Bedroom | $2,710 |
| 2 Bedrooms | $3,190 |
| 3 Bedrooms | $4,290 |
| 4 Bedrooms | $4,570 |
| 5 Bedrooms | $5,301 |
| 6 Bedrooms | $5,937 |
| 7 Bedrooms | $6,412 |
| 8 Bedrooms | $6,733 |
U.S. Census Bureau data (2024)
Situated within the San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area, ZIP code 95053 stands out with an FMR of $2830 for fiscal year 2024. This figure represents the Fair Market Rent set by HUD for the area, which is used to determine eligibility and payment standards for the Section 8 Housing Choice Voucher program.
The renter share in ZIP 95053 is 100%, indicating that every household in this area rents their home. This is significantly higher than the typical ZIP codes within the San Jose-Sunnyvale-Santa Clara metro area, where the renter share is usually lower. The absence of specific market rent and home value data for 95053 suggests limited availability of such information, which could be due to various factors including the concentration of rental properties.
To classify ZIP 95053 within the broader context of the San Jose-Sunnyvale-Santa Clara metro, we must consider the FMR alongside the characteristics of other ZIP codes. While the exact market rent and home values are not available, the 100% renter share and the FMR of $2830 suggest that it might be a value pocket within the metro. Typically, ZIP codes with high renter shares and lower home values indicate areas where Section 8 vouchers are more commonly used, making them attractive for landlords who can benefit from the steady stream of rental income provided by the voucher program.
However, the lack of market rent and home value data means we cannot definitively conclude if 95053 is below average in terms of home values compared to the rest of the metro. If indeed the home values are below the metro average, this would further support the classification of 95053 as a Section 8 sweet spot, where landlords can find good opportunities to offer affordable housing while still receiving stable rental payments through the voucher program.
In summary, ZIP 95053 appears to be a value pocket within the San Jose-Sunnyvale-Santa Clara metro, characterized by a high renter share and an FMR of $2830. Landlords should be aware of the potential for steady rental income through the Section 8 program in this area, although additional research into local market conditions is recommended.
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.