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Santa Barbara County/Santa Barbara/93108

93108

ZIPSAFMR
Santa Barbara County, CA
Zillow

ZIP Investment Score

15Below average

095130300
BRFMR
Eff. Rent
0 BR$2,900$3,190
1 BR$3,270$3,600
2 BR$3,690$4,060
3 BR$4,870$5,360
4 BR$5,430$5,970
5 BR$6,244Not available
6 BR$7,181Not available
7 BR$8,258Not available
8 BR$9,497Not available

Purchase Price Calculator

Maximum purchase price
$541,398

Cost breakdown

+Likely effective rent$4,060
HUD FMR$3,690
Market rent$7,500
Est. payment standard (110%)Used$4,060
-Principal and interest-$2,738
Loan amount$433,118
Down payment$108,280
Rate6.50%
Term30 years
-Operating costs-$1,122
Property taxes-$541
Insurance-$175
Utilities$0
HOA$0
Management-$406
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$64,346(59.4% ROI)
Projected value
$583,026
Return breakdown
Property appreciation+$41,628
Loan principal paid down+$15,518
Rental cash flow+$7,200
5-year hold
+$110,816(102.3% ROI)
Projected value
$612,542
Return breakdown
Property appreciation+$71,144
Loan principal paid down+$27,672
Rental cash flow+$12,000
10-year hold
+$241,575(223.1% ROI)
Projected value
$693,035
Return breakdown
Property appreciation+$151,637
Loan principal paid down+$65,937
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.73
1 BR
0.71
2 BR
0.49
3 BR
0.45
4 BR
0.40
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 93108 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 93108 (Santa Barbara, CA) is $3,690 a month. That is down 9.8% from $4,090 in FY 2026. Santa Barbara is in the Santa Maria-Santa Barbara, 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 $3,106. Among 39 ZIP codes in Santa Barbara County, 93108 has the 6th-highest two-bedroom rent (county range $2,820–$4,360). The median county two-bedroom FMR in California is $1,725, so ZIP 93108 is 114% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 93108
BedroomsFY 2027Change90–110% range
Studio$2,900−9.9%$2,610–$3,190
1BR$3,270−9.9%$2,943–$3,597
2BR$3,690−9.8%$3,321–$4,059
3BR$4,870−10.0%$4,383–$5,357
4BR$5,430−10.0%$4,887–$5,973

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 93108
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,900$3,270$3,690$4,870$5,430
FY 2026$3,220$3,630$4,090$5,410$6,030
FY 2025$3,570$4,030$4,540$6,010$6,700
FY 2024$3,490$3,970$4,490$5,990$6,790
FY 2023$3,030$3,490$3,960$5,230$5,940

Two-bedroom rent in nearby Santa Barbara County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 93108
93101$3,850+4.3%
93102$3,110−15.7%
93103$3,620−1.9%
93105$3,630−1.6%
93106$3,360−8.9%
93108Current$3,690—
93109$4,360+18.2%
93110$3,540−4.1%
93111$4,220+14.4%
93116$3,110−15.7%
93117$3,360−8.9%
93118$3,110−15.7%

Questions about ZIP 93108 rents

How much will Section 8 pay for a two-bedroom in ZIP 93108?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $3,106, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,795 to $3,417 a month; under the ZIP-level Small Area FMR of $3,690 it would be $3,321 to $4,059. 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 ZIP 93108 in?

ZIP 93108 is in the Santa Maria-Santa Barbara, CA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $3,106.

How much did fair market rent change in ZIP 93108 for FY 2027?

The two-bedroom FMR fell 9.8%, from $4,090 in FY 2026 to $3,690 in FY 2027. Since FY 2023 it has fallen 6.8%.

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 rentSanta Barbara, CA fair market rentCA statewide rentsWhat is SAFMR?Data sources