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San Luis Obispo County/Arroyo Grande/93420

93420

ZIPSAFMR
San Luis Obispo County, CA
Zillow

ZIP Investment Score

60Below average

095130300
BRFMR
Eff. Rent
0 BR$2,060$2,060
1 BR$2,260$2,260
2 BR$2,960$2,960
3 BR$3,960$3,960
4 BR$4,580$4,580
5 BR$5,267Not available
6 BR$6,057Not available
7 BR$6,966Not available
8 BR$8,010Not available

Purchase Price Calculator

Maximum purchase price
$377,938

Cost breakdown

+Likely effective rent$2,960
HUD FMRUsed$2,960
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,911
Loan amount$302,351
Down payment$75,588
Rate6.50%
Term30 years
-Operating costs-$849
Property taxes-$378
Insurance-$175
Utilities$0
HOA$0
Management-$296
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$47,092(62.3% ROI)
Projected value
$406,998
Return breakdown
Property appreciation+$29,060
Loan principal paid down+$10,832
Rental cash flow+$7,200
5-year hold
+$80,981(107.1% ROI)
Projected value
$427,602
Return breakdown
Property appreciation+$49,664
Loan principal paid down+$19,317
Rental cash flow+$12,000
10-year hold
+$175,884(232.7% ROI)
Projected value
$483,793
Return breakdown
Property appreciation+$105,855
Loan principal paid down+$46,029
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 93420 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 93420 (Arroyo Grande, CA) is $2,960 a month. That is up 3.1% from $2,870 in FY 2026. Arroyo Grande 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, 93420 has the 4th-highest two-bedroom rent (county range $2,410–$3,720). The median county two-bedroom FMR in California is $1,725, so ZIP 93420 is 72% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 93420
BedroomsFY 2027Change90–110% range
Studio$2,060+4.0%$1,854–$2,266
1BR$2,260+3.2%$2,034–$2,486
2BR$2,960+3.1%$2,664–$3,256
3BR$3,960+2.9%$3,564–$4,356
4BR$4,580+3.9%$4,122–$5,038

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 93420
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,060$2,260$2,960$3,960$4,580
FY 2026$1,980$2,190$2,870$3,850$4,410
FY 2025$1,800$2,000$2,630$3,510$3,980
FY 2024$1,630$1,830$2,400$3,210$3,660
FY 2023$1,470$1,640$2,160$2,980$3,320

Two-bedroom rent in nearby San Luis Obispo County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 93420
93408$2,820−4.7%
93409$2,820−4.7%
93410$2,820−4.7%
93412$2,720−8.1%
93420Current$2,960—
93421$2,720−8.1%
93422$2,610−11.8%
93423$2,720−8.1%
93424$2,830−4.4%
93426$2,430−17.9%
93428$2,680−9.5%
93430$2,410−18.6%

Questions about ZIP 93420 rents

How much will Section 8 pay for a two-bedroom in ZIP 93420?

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 $2,960 it would be $2,664 to $3,256. 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 93420 in?

ZIP 93420 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 93420 for FY 2027?

The two-bedroom FMR rose 3.1%, from $2,870 in FY 2026 to $2,960 in FY 2027. Since FY 2023 it has risen 37.0%.

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 rentArroyo Grande, CA fair market rentCA statewide rentsWhat is SAFMR?Data sources