Location: San Jose-Sunnyvale-Santa Clara, CA | Metro: San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,460 |
| 1 Bedroom | $2,780 |
| 2 Bedrooms | $3,270 |
| 3 Bedrooms | $4,390 |
| 4 Bedrooms | $4,690 |
| 5 Bedrooms | $5,440 |
| 6 Bedrooms | $6,093 |
| 7 Bedrooms | $6,580 |
| 8 Bedrooms | $6,909 |
The analysis of ZIP 95056 within the San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area reveals several key insights for landlords and small-portfolio investors.
Regarding the rent math, the Fair Market Rent (FMR) for the area is set at $3130 per month for fiscal year 2024. However, the lack of specific market rent data means that direct comparison is impossible. Without precise market rent figures, it's challenging to determine if the FMR accurately reflects the potential income from rental properties in this ZIP code.
On the topic of acquisition affordability, the absence of data on the median home value, days on market (DOM), and the percentage of homes requiring price cuts makes it difficult to assess whether purchasing properties in this area is financially viable for investors. These metrics are crucial for understanding how quickly properties sell and at what price point, which directly impacts an investor's ability to acquire properties affordably.
Concerning tenant demand, the ZIP code lacks specific population and renter share percentages. This data is essential for gauging the number of potential renters and the overall demand for rental housing in the area. Without these details, it's unclear how many individuals might be seeking rental properties and whether they constitute a significant portion of the local population.
Verdict: The analysis of ZIP 95056 is hampered by the absence of critical data points such as market rent, median home value, days on market, price cut percentages, population, and renter share. To make informed decisions about investment viability and tenant demand, landlords and small-portfolio investors must seek out comprehensive and up-to-date market data. The available FMR figure of $3130 provides a benchmark but does not offer a complete picture of the rental market dynamics in this ZIP code.
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.