Location: San Jose-Sunnyvale-Santa Clara, CA | Metro: San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,380 |
| 1 Bedroom | $2,650 |
| 2 Bedrooms | $3,180 |
| 3 Bedrooms | $4,170 |
| 4 Bedrooms | $4,710 |
| 5 Bedrooms | $5,464 |
| 6 Bedrooms | $6,120 |
| 7 Bedrooms | $6,610 |
| 8 Bedrooms | $6,941 |
U.S. Census Bureau data (2024)
The ZIP code 95140 stands out in several ways. With only 42 residents, it has the lowest rental percentage at 0.0%, indicating that the area is predominantly owner-occupied. The median income in this ZIP is notably high at $163,594, which places it well above the national average. Moreover, the median home value is exceptionally high at $1,909,407, suggesting a very affluent community.
Despite the lack of renters, the Federal Market Rent (FMR) for ZIP 95140 is set at $3100 for fiscal year 2024. This figure is critical for understanding the potential impact of Section 8 vouchers in an area where traditional rental housing is virtually non-existent. Since there is no available market rent data for comparison, the FMR serves as the benchmark for rental subsidies in this ZIP code.
The data signature for ZIP 95140 reads as stable. The absence of rental units and the presence of high-income, high-value homeownership suggest a mature residential market with little fluctuation. Landlords and small-portfolio investors should be cautious about entering this market due to the scarcity of rental properties and the high barriers to entry posed by the significant home values. However, for those who do manage to secure a property, the high FMR indicates a potentially lucrative opportunity if they can attract tenants through the Section 8 program.
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.