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Monterey County/Carmel By the Sea/93921

93921

ZIPSAFMR
Monterey County, CA
Zillow

ZIP Investment Score

73Below average

095130300
BRFMR
Eff. Rent
0 BR$2,770$2,610
1 BR$2,890$2,820
2 BR$3,420$3,760
3 BR$4,490$4,940
4 BR$4,890$5,380
5 BR$5,624Not available
6 BR$6,467Not available
7 BR$7,437Not available
8 BR$8,553Not available

Purchase Price Calculator

Maximum purchase price
$496,818

Cost breakdown

+Likely effective rent$3,760
HUD FMR$3,420
Market rent$4,230
Est. payment standard (110%)Used$3,760
-Principal and interest-$2,512
Loan amount$397,454
Down payment$99,364
Rate6.50%
Term30 years
-Operating costs-$1,048
Property taxes-$497
Insurance-$175
Utilities$0
HOA$0
Management-$376
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$59,640(60.0% ROI)
Projected value
$535,019
Return breakdown
Property appreciation+$38,201
Loan principal paid down+$14,240
Rental cash flow+$7,200
5-year hold
+$102,679(103.3% ROI)
Projected value
$562,104
Return breakdown
Property appreciation+$65,286
Loan principal paid down+$25,393
Rental cash flow+$12,000
10-year hold
+$223,659(225.1% ROI)
Projected value
$635,969
Return breakdown
Property appreciation+$139,151
Loan principal paid down+$60,508
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.06
1 BR
1.02
2 BR
0.81
3 BR
0.86
4 BR
0.78
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 93921 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 93921 (Carmel By the Sea, CA) is $3,420 a month. That is down 9.8% from $3,790 in FY 2026. Carmel By the Sea 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, 93921 has the highest two-bedroom rent (county range $2,430–$3,420). The median county two-bedroom FMR in California is $1,725, so ZIP 93921 is 98% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 93921
BedroomsFY 2027Change90–110% range
Studio$2,770−9.8%$2,493–$3,047
1BR$2,890−10.0%$2,601–$3,179
2BR$3,420−9.8%$3,078–$3,762
3BR$4,490−9.8%$4,041–$4,939
4BR$4,890−9.9%$4,401–$5,379

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 93921
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,770$2,890$3,420$4,490$4,890
FY 2026$3,070$3,210$3,790$4,980$5,430
FY 2025$3,320$3,410$4,100$5,530$6,030
FY 2024$3,230$3,270$3,980$5,520$6,080
FY 2023$3,000$3,120$3,800$5,380$5,890

Two-bedroom rent in nearby Monterey County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 93921
93912$2,430−28.9%
93915$2,430−28.9%
93920$2,430−28.9%
93921Current$3,420—
93922$2,430−28.9%
93923$2,740−19.9%
93924$2,680−21.6%
93925$2,620−23.4%
93926$2,430−28.9%
93927$2,430−28.9%
93928$2,430−28.9%
93930$2,620−23.4%

Questions about ZIP 93921 rents

How much will Section 8 pay for a two-bedroom in ZIP 93921?

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 $3,420 it would be $3,078 to $3,762. 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 93921 in?

ZIP 93921 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 93921 for FY 2027?

The two-bedroom FMR fell 9.8%, from $3,790 in FY 2026 to $3,420 in FY 2027. Since FY 2023 it has fallen 10.0%.

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 rentCarmel By the Sea, CA fair market rentCA statewide rentsWhat is SAFMR?Data sources