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 ZIP code 95172 in California presents a dynamic rental market, particularly concerning the Section 8 program. With a Fair Market Rent (FMR) set at $3130 for the fiscal year 2024, landlords and small-portfolio investors must align their rental pricing strategies accordingly to remain competitive while also ensuring compliance with HUD guidelines.
The absence of current market rent data suggests either limited availability or a less active market in terms of recent transactions, which can be indicative of either low activity or a lack of transparency in reporting. The same holds true for the percentage of price-cut share, days on market (DOM), and median home value, all of which are currently not available. This scarcity of detailed market metrics makes it challenging to pinpoint whether supply is outpacing demand or vice versa, but the presence of FMR data alone indicates an active interest from the government in regulating and supporting affordable housing in this area.
The unknown percentage of renter share in the ZIP code further complicates the understanding of long-term housing pressures. Typically, a higher renter share points towards greater housing pressure, as it signifies a larger portion of the population relies on rental properties. Conversely, a lower renter share might indicate a more stable homeownership environment. In the case of ZIP 95172, without this critical figure, it's difficult to assess the balance between renters and owners, which is crucial for gauging future housing demands.
In summary, ZIP 95172 appears to be a market in flux, driven by government intervention through the FMR setting, yet lacking in comprehensive data that would allow for a precise analysis of supply versus demand dynamics. The unclear trend regarding the renter share adds another layer of uncertainty, highlighting the need for landlords and investors to stay informed and adaptable to the evolving landscape of this rental market.
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.