Location: Santa Cruz-Watsonville, CA | Metro: Santa Cruz-Watsonville, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $3,230 |
| 1 Bedroom | $3,390 |
| 2 Bedrooms | $4,250 |
| 3 Bedrooms | $5,530 |
| 4 Bedrooms | $5,740 |
| 5 Bedrooms | $6,658 |
| 6 Bedrooms | $7,457 |
| 7 Bedrooms | $8,054 |
| 8 Bedrooms | $8,457 |
4050 In ZIP code 95077, the Fair Market Rent (FMR) for a one-bedroom apartment in fiscal year 2024 is set at $4050. This figure represents the maximum rental amount allowed under the Section 8 program for this area.
4050 Despite the lack of specific data on market rents, median home values, renter share, median income, days on market (DOM), and the percentage of homes needing price cuts, the FMR provides a clear benchmark for rental pricing in this region.
4050 Landlords and small-portfolio investors should note that while the FMR is a crucial guideline for Section 8 participants, it does not necessarily reflect the broader rental market conditions. However, for those engaged with Section 8 tenants, this is the definitive rate.
4050 The absence of data on median home values and renter share suggests limited availability of housing statistics for ZIP 95077, possibly due to low population density or insufficient data collection. This can make it challenging to assess the overall housing demand and supply dynamics.
4050 With no information on median income, it's advisable for investors to look at broader county or state-level data to understand the economic profile of potential tenants.
4050 Days on market (DOM) and the percentage of homes needing price cuts being marked as N/A indicate that there might be a stable rental market in 95077, where listings are likely to be rented out without significant delays or price reductions.
4050 For landlords and small-portfolio investors considering participation in the Section 8 program in ZIP 95077, the $4050 FMR for a one-bedroom unit offers a straightforward guideline for setting rental rates. However, due to the limited availability of other key housing metrics, further research into local market conditions and tenant profiles is recommended.
4050 Verdict: Participation in the Section 8 program in ZIP 95077 is viable with clear rental guidelines, but broader market analysis is necessary due to data limitations.
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.