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Monterey County/Salinas/93906

93906

ZIPSAFMR
Monterey County, CA
Zillow

ZIP Investment Score

62Below average

095130300
BRFMR
Eff. Rent
0 BR$2,030$2,060
1 BR$2,080$2,290
2 BR$2,510$2,660
3 BR$3,380$3,350
4 BR$3,680$3,990
5 BR$4,232Not available
6 BR$4,867Not available
7 BR$5,597Not available
8 BR$6,436Not available

Purchase Price Calculator

Maximum purchase price
$333,358

Cost breakdown

+Likely effective rent$2,660
HUD FMR$2,510
Market rent$2,740
Est. payment standard (106%)Used$2,660
-Principal and interest-$1,686
Loan amount$266,687
Down payment$66,672
Rate6.50%
Term30 years
-Operating costs-$774
Property taxes-$333
Insurance-$175
Utilities$0
HOA$0
Management-$266
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$42,387(63.6% ROI)
Projected value
$358,991
Return breakdown
Property appreciation+$25,632
Loan principal paid down+$9,555
Rental cash flow+$7,200
5-year hold
+$72,845(109.3% ROI)
Projected value
$377,164
Return breakdown
Property appreciation+$43,806
Loan principal paid down+$17,039
Rental cash flow+$12,000
10-year hold
+$157,969(236.9% ROI)
Projected value
$426,727
Return breakdown
Property appreciation+$93,369
Loan principal paid down+$40,600
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.98
1 BR
0.85
2 BR
0.92
3 BR
1.01
4 BR
0.89
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 93906 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 93906 (Salinas, CA) is $2,510 a month. That is down 9.7% from $2,780 in FY 2026. Salinas is in the Salinas, 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 $2,416. Among 34 ZIP codes in Monterey County, 93906 has the 16th-highest two-bedroom rent (county range $2,430–$3,420). The median county two-bedroom FMR in California is $1,725, so ZIP 93906 is 46% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 93906
BedroomsFY 2027Change90–110% range
Studio$2,030−9.8%$1,827–$2,233
1BR$2,080−10.0%$1,872–$2,288
2BR$2,510−9.7%$2,259–$2,761
3BR$3,380−9.9%$3,042–$3,718
4BR$3,680−9.8%$3,312–$4,048

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 93906
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,030$2,080$2,510$3,380$3,680
FY 2026$2,250$2,310$2,780$3,750$4,080
FY 2025$2,490$2,560$3,080$4,160$4,530
FY 2024$2,430$2,460$2,990$4,140$4,570
FY 2023$2,300$2,400$2,920$4,140$4,520

Two-bedroom rent in nearby Monterey County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 93906
93901$2,430−3.2%
93902$2,430−3.2%
93905$2,430−3.2%
93906Current$2,510—
93907$2,540+1.2%
93908$3,160+25.9%
93912$2,430−3.2%
93915$2,430−3.2%
93920$2,430−3.2%
93921$3,420+36.3%
93922$2,430−3.2%
93923$2,740+9.2%

Questions about ZIP 93906 rents

How much will Section 8 pay for a two-bedroom in ZIP 93906?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,416, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,174 to $2,658 a month; under the ZIP-level Small Area FMR of $2,510 it would be $2,259 to $2,761. 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 93906 in?

ZIP 93906 is in the Salinas, CA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,416.

How much did fair market rent change in ZIP 93906 for FY 2027?

The two-bedroom FMR fell 9.7%, from $2,780 in FY 2026 to $2,510 in FY 2027. Since FY 2023 it has fallen 14.0%.

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