Location: San Jose-Sunnyvale-Santa Clara, CA | Metro: San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,760 |
| 1 Bedroom | $3,150 |
| 2 Bedrooms | $3,640 |
| 3 Bedrooms | $4,720 |
| 4 Bedrooms | $5,140 |
| 5 Bedrooms | $5,962 |
| 6 Bedrooms | $6,677 |
| 7 Bedrooms | $7,211 |
| 8 Bedrooms | $7,572 |
U.S. Census Bureau data (2024)
ZIP code 95135, located in San Jose, CA, falls within the San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 95135 in fiscal year 2024 is set at $3900, which is notably higher than the area's average market rent of $3,501. This indicates that 95135 is positioned as a premium sub-market within its broader metro area.
The median home value in ZIP 95135 is $1,807,183, significantly above the typical home value within the San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area. This further supports the classification of 95135 as a premium sub-market, where property values are considerably elevated compared to the surrounding areas.
However, the renter share in ZIP 95135 stands at 14.1%, which is relatively low. This suggests that the majority of residents in 95135 are homeowners rather than renters. While a high renter share combined with lower home values can sometimes indicate a sweet spot for Section 8 properties, the inverse is true here. The low renter share and high home values suggest that this area is less likely to be a primary target for Section 8 tenants.
In conclusion, based on the provided figures, ZIP 95135 appears to be a premium sub-market within the San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area. Its higher FMR and significantly higher home values indicate a more affluent neighborhood, with fewer opportunities for rental properties to attract Section 8 tenants.
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.