City Median Investment Score
50Below average
| BR | FMR | Eff. Rent | 3Y CAGR |
|---|---|---|---|
| 0 BR | $1,800 – $1,890▲ | $1,890 – $1,900 | 6.1% |
| 1 BR | $1,970 – $2,080▲ | $2,080 – $2,170 | 5.3% |
| 2 BR | $2,580 – $2,720▲ | $2,720 – $2,750 | 5.2% |
| 3 BR | $3,450 – $3,630▲ | $3,430 – $3,630 | 5.1% |
| 4 BR | $3,990 – $4,210▲ | $3,840 – $4,210 | 5.8% |
| 5 BR | $4,715▲ | —Not available | 5.8% |
| 6 BR | $5,422▲ | —Not available | 5.8% |
| 7 BR | $6,236▲ | —Not available | 5.8% |
| 8 BR | $7,171▲ | —Not available | 5.8% |
Public Housing Authority
Rolodex
Market Alignment
FMR is near market; voucher and private rents are aligned.
FMR is below market; voucher rent may lag private rents.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
FMR is near market; voucher and private rents are aligned.
- FMR
- FY2027
- Market rent
- last ~365 days
- Property value
- --
- Tax rate
- --
- Mortgage rate
- --
Morro Bay, CA fair market rent, FY 2027
For FY 2027, HUD's two-bedroom Small Area Fair Market Rent across the 2 ZIP codes in Morro Bay, CA ranges from $2,580 to $2,720 a month, with a median of $2,650. That is up 1.1% from $2,620 in FY 2026. Morro Bay is in the San Luis Obispo-Paso Robles, CA MSA. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $2,720. The median county two-bedroom FMR in California is $1,725, so Morro Bay is 54% above it.
FY 2027 rent by bedroom
| Bedrooms | FY 2026 | FY 2027 | Change | 90–110% range |
|---|---|---|---|---|
| Studio | $1,805 | $1,845 | +2.2% | $1,661–$2,030 |
| 1BR | $1,995 | $2,025 | +1.5% | $1,823–$2,228 |
| 2BR | $2,620 | $2,650 | +1.1% | $2,385–$2,915 |
| 3BR | $3,515 | $3,540 | +0.7% | $3,186–$3,894 |
| 4BR | $4,025 | $4,100 | +1.9% | $3,690–$4,510 |
Fair market rent history, FY 2023–2027
| Fiscal year | Studio | 1BR | 2BR | 3BR | 4BR |
|---|---|---|---|---|---|
| FY 2027 | $1,845 | $2,025 | $2,650 | $3,540 | $4,100 |
| FY 2026 | $1,805 | $1,995 | $2,620 | $3,515 | $4,025 |
| FY 2025 | $1,650 | $1,830 | $2,405 | $3,210 | $3,640 |
| FY 2024 | $1,545 | $1,735 | $2,275 | $3,045 | $3,465 |
| FY 2023 | $1,415 | $1,580 | $2,085 | $2,875 | $3,200 |
Two-bedroom rent by ZIP code
Questions about Morro Bay, CA rents
How much will Section 8 pay for a two-bedroom in Morro Bay, CA?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,720, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,448 to $2,992 a month; under the ZIP-level Small Area FMR of $2,650 it would be $2,385 to $2,915. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Morro Bay, CA in?
Morro Bay, CA is in the San Luis Obispo-Paso Robles, CA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,720.
How much did fair market rent change in Morro Bay, CA for FY 2027?
The two-bedroom FMR rose 1.1%, from $2,620 in FY 2026 to $2,650 in FY 2027. Since FY 2023 it has risen 27.1%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set