FMR is near market; voucher and private rents are aligned.
0.94
1 BR
1 BR
0.88ratio
FMR$2,710
Market$3,070
vs market-$360
FMR is below market; voucher rent may lag private rents.
0.88
2 BR
2 BR
0.67ratio
FMR$3,110
Market$4,610
vs market-$1,500
FMR is below market; voucher rent may lag private rents.
0.67
3 BR
3 BR
0.74ratio
FMR$4,000
Market$5,410
vs market-$1,410
FMR is below market; voucher rent may lag private rents.
0.74
4 BR
4 BR
0.63ratio
FMR$4,560
Market$7,250
vs market-$2,690
FMR is below market; voucher rent may lag private rents.
0.63
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
ZIP 93116 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 93116 (Goleta, CA) is $3,110 a month. That is down 0.3% from $3,120 in FY 2026. Goleta 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, 93116 is tied for the 18th-highest two-bedroom rent (county range $2,820–$4,360). The median county two-bedroom FMR in California is $1,725, so ZIP 93116 is 80% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 93116
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,460
$2,480
+0.8%
$2,232–$2,728
1BR
$2,740
$2,710
−1.1%
$2,439–$2,981
2BR
$3,120
$3,110
−0.3%
$2,799–$3,421
3BR
$4,070
$4,000
−1.7%
$3,600–$4,400
4BR
$4,640
$4,560
−1.7%
$4,104–$5,016
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 93116
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,480
$2,710
$3,110
$4,000
$4,560
FY 2026
$2,460
$2,740
$3,120
$4,070
$4,640
FY 2025
$2,380
$2,690
$3,030
$4,010
$4,470
FY 2024
$2,330
$2,650
$2,990
$3,990
$4,520
FY 2023
$2,040
$2,350
$2,670
$3,520
$4,010
Two-bedroom rent in nearby Santa Barbara County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 93116?
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 $3,110 it would be $2,799 to $3,421. 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 93116 in?
ZIP 93116 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 93116 for FY 2027?
The two-bedroom FMR fell 0.3%, from $3,120 in FY 2026 to $3,110 in FY 2027. Since FY 2023 it has risen 16.5%.
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