Not enough rental comps in this area to determine how FMR aligns with current market rates.
Historical
FY 2023-2027
FMR
FY2027
Property value
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Tax rate
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Mortgage rate
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ZIP 93407 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 93407 (San Luis Obispo, CA) is $2,820 a month. That is down 3.4% from $2,920 in FY 2026. San Luis Obispo 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. Among 36 ZIP codes in San Luis Obispo County, 93407 is tied for the 8th-highest two-bedroom rent (county range $2,410–$3,720). The median county two-bedroom FMR in California is $1,725, so ZIP 93407 is 63% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 93407
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,010
$1,960
−2.5%
$1,764–$2,156
1BR
$2,230
$2,160
−3.1%
$1,944–$2,376
2BR
$2,920
$2,820
−3.4%
$2,538–$3,102
3BR
$3,920
$3,770
−3.8%
$3,393–$4,147
4BR
$4,490
$4,360
−2.9%
$3,924–$4,796
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 93407
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$1,960
$2,160
$2,820
$3,770
$4,360
FY 2026
$2,010
$2,230
$2,920
$3,920
$4,490
FY 2025
$1,820
$2,030
$2,660
$3,550
$4,020
FY 2024
$1,540
$1,730
$2,270
$3,040
$3,460
FY 2023
$1,400
$1,560
$2,060
$2,840
$3,160
Two-bedroom rent in nearby San Luis Obispo County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 93407?
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 $2,820 it would be $2,538 to $3,102. 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 93407 in?
ZIP 93407 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 ZIP 93407 for FY 2027?
The two-bedroom FMR fell 3.4%, from $2,920 in FY 2026 to $2,820 in FY 2027. Since FY 2023 it has risen 36.9%.
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