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San Luis Obispo County/San Miguel/93451

93451

ZIPSAFMR
San Luis Obispo County, CA
Zillow

ZIP Investment Score

92Below average

095130300
BRFMR
Eff. Rent
0 BR$1,970$1,970
1 BR$2,020$2,020
2 BR$2,590$2,590
3 BR$3,450$3,450
4 BR$3,960$3,960
5 BR$4,554Not available
6 BR$5,237Not available
7 BR$6,023Not available
8 BR$6,926Not available

Purchase Price Calculator

Maximum purchase price
$322,956

Cost breakdown

+Likely effective rent$2,590
HUD FMRUsed$2,590
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,633
Loan amount$258,365
Down payment$64,591
Rate6.50%
Term30 years
-Operating costs-$757
Property taxes-$323
Insurance-$175
Utilities$0
HOA$0
Management-$259
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$41,289(63.9% ROI)
Projected value
$347,789
Return breakdown
Property appreciation+$24,832
Loan principal paid down+$9,257
Rental cash flow+$7,200
5-year hold
+$70,946(109.8% ROI)
Projected value
$365,396
Return breakdown
Property appreciation+$42,439
Loan principal paid down+$16,507
Rental cash flow+$12,000
10-year hold
+$153,788(238.1% ROI)
Projected value
$413,412
Return breakdown
Property appreciation+$90,455
Loan principal paid down+$39,333
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 93451 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 93451 (San Miguel, CA) is $2,590 a month. That is down 3.7% from $2,690 in FY 2026. San Miguel 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, 93451 has the 30th-highest two-bedroom rent (county range $2,410–$3,720). The median county two-bedroom FMR in California is $1,725, so ZIP 93451 is 50% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 93451
BedroomsFY 2027Change90–110% range
Studio$1,970−9.6%$1,773–$2,167
1BR$2,020−9.8%$1,818–$2,222
2BR$2,590−3.7%$2,331–$2,849
3BR$3,450−5.0%$3,105–$3,795
4BR$3,960−2.5%$3,564–$4,356

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 93451
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,970$2,020$2,590$3,450$3,960
FY 2026$2,180$2,240$2,690$3,630$4,060
FY 2025$2,110$2,140$2,680$3,600$4,040
FY 2024$1,910$1,990$2,590$3,480$3,950
FY 2023$1,620$1,790$2,330$3,230$3,580

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

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 93451
93442$2,580−0.4%
93443$2,720+5.0%
93444$2,890+11.6%
93445$2,410−6.9%
93446$2,720+5.0%
93447$2,720+5.0%
93448$2,720+5.0%
93449$3,220+24.3%
93451Current$2,590—
93452$2,410−6.9%
93453$2,670+3.1%
93461$2,470−4.6%

Questions about ZIP 93451 rents

How much will Section 8 pay for a two-bedroom in ZIP 93451?

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 $2,590 it would be $2,331 to $2,849. 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 93451 in?

ZIP 93451 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 93451 for FY 2027?

The two-bedroom FMR fell 3.7%, from $2,690 in FY 2026 to $2,590 in FY 2027. Since FY 2023 it has risen 11.2%.

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 rentSan Miguel, CA fair market rentCA statewide rentsWhat is SAFMR?Data sources