Location: Santa Rosa-Petaluma, CA | Metro: Santa Rosa-Petaluma, CA MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,760 |
| 1 Bedroom | $1,940 |
| 2 Bedrooms | $2,550 |
| 3 Bedrooms | $3,500 |
| 4 Bedrooms | $3,740 |
| 5 Bedrooms | $4,338 |
| 6 Bedrooms | $4,859 |
| 7 Bedrooms | $5,248 |
| 8 Bedrooms | $5,510 |
U.S. Census Bureau data (2024)
The economics of Section 8 in ZIP 95480 operate under specific guidelines that affect both landlords and tenants. For a two-bedroom rental unit in this ZIP code, the SAFMR (Small Area Fair Market Rent) for FY 2024 is set at $2380. This figure is crucial because it represents the maximum amount that the housing authority will pay towards a tenant's rent subsidy. However, it's important to note that the local market rent data for this specific ZIP is currently unavailable, which can sometimes lead to discrepancies between the SAFMR and actual market rates.
When a tenant uses a Section 8 voucher in ZIP 95480, the payment structure involves several components. The voucher holder is responsible for paying 30% of their adjusted income towards the rent. If the tenant's income is $1500 per month, they would contribute $450 towards the rent. The remaining amount up to the SAFMR is covered by the housing authority, meaning the landlord would receive $1930 from the government for this 2BR unit, totaling the $2380 rent.
Utility allowances also play a role in the overall economics. These allowances are typically included in the SAFMR but are paid directly to the landlord along with the housing assistance payment. Utility allowances vary based on the type of unit and location, but for simplicity, let's assume an average utility allowance of $200 for a 2BR unit in ZIP 95480. Therefore, the landlord would receive an additional $200 for utilities, bringing the total reimbursement to $2180.
To summarize, if a landlord rents out a 2BR unit at the SAFMR of $2380, they would receive $1930 from the housing authority plus $200 for utilities, equaling $2180. This leaves a gap of $200, meaning the landlord would not be fully reimbursed for the rent charged. In other scenarios where the local market rent is lower than the SAFMR, landlords might find themselves with a surplus, where the voucher covers more than the actual rent cost.
In ZIP 95480, landlords should expect a reimbursement gap of $200 for a 2BR unit priced at the SAFMR, unless the local market rent is lower, in which case there could be a surplus. It's essential for landlords to understand these dynamics to make informed decisions about accepting Section 8 vouchers.
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.