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CA/Santa Clara County/Palo Alto

Palo Alto, CA

CitySAFMR
Santa Clara County
Found 6 ZIPs
Zillow

City Median Investment Score

29Below average

095130300
BRFMR
Eff. Rent
0 BR$2,430 – $2,920$2,540 – $2,950
1 BR$2,780 – $3,290$2,810 – $3,390
2 BR$3,270 – $3,880$3,110 – $4,270
3 BR$4,390 – $5,210$4,130 – $5,730
4 BR$4,690 – $5,560$4,670 – $6,120
5 BR$5,756Not available
6 BR$6,619Not available
7 BR$7,612Not available
8 BR$8,754Not available

Public Housing Authority

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Rolodex

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Market Alignment

Studio
2
2
0.79-1.01
1 BR
2
0.69-0.98
2 BR
2
2
0.69-1.05
3 BR
2
2
0.68-1.06
4 BR
4
0.46-1.00
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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Palo Alto, CA fair market rent, FY 2027

For FY 2027, HUD's two-bedroom Small Area Fair Market Rent across the 6 ZIP codes in Palo Alto, CA ranges from $3,270 to $3,880 a month, with a median of $3,460. That is down 4.8% from $3,635 in FY 2026. Palo Alto is in the San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in California is $1,725, so Palo Alto is 101% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for Palo Alto, CA
BedroomsFY 2027Change90–110% range
Studio$2,555−6.6%$2,300–$2,811
1BR$2,900−6.8%$2,610–$3,190
2BR$3,460−4.8%$3,114–$3,806
3BR$4,610−4.1%$4,149–$5,071
4BR$5,005−4.3%$4,505–$5,506

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for Palo Alto, CA
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,555$2,900$3,460$4,610$5,005
FY 2026$2,735$3,110$3,635$4,805$5,230
FY 2025$2,735$3,120$3,615$4,695$5,115
FY 2024$2,485$2,805$3,265$4,180$4,610
FY 2023$2,310$2,610$3,055$3,895$4,365

Two-bedroom rent by ZIP code

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. median
94304$3,880+12.1%
94301$3,650+5.5%
94306$3,530+2.0%
94303$3,390−2.0%
94302$3,270−5.5%
94309$3,270−5.5%

Questions about Palo Alto, CA rents

How much will Section 8 pay for a two-bedroom in Palo Alto, CA?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,460, that basic range is $3,114 to $3,806 a month. 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 Palo Alto, CA in?

Palo Alto, CA is in the San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in Palo Alto, CA for FY 2027?

The two-bedroom FMR fell 4.8%, from $3,635 in FY 2026 to $3,460 in FY 2027. Since FY 2023 it has risen 13.3%.

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

County fair market rentCA statewide rentsWhat is SAFMR?Data sources