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Santa Clara County/Los Altos/94024

94024

ZIPSAFMR
Santa Clara County, CA
Zillow

ZIP Investment Score

20Below average

095130300
BRFMR
Eff. Rent
0 BR$3,030$2,960
1 BR$3,420$3,280
2 BR$4,030$4,360
3 BR$5,420$5,900
4 BR$5,770$6,350
5 BR$6,635Not available
6 BR$7,631Not available
7 BR$8,775Not available
8 BR$10,092Not available

Purchase Price Calculator

Maximum purchase price
$585,978

Cost breakdown

+Likely effective rent$4,360
HUD FMR$4,030
Market rent$4,540
Est. payment standard (108%)Used$4,360
-Principal and interest-$2,963
Loan amount$468,782
Down payment$117,196
Rate6.50%
Term30 years
-Operating costs-$1,197
Property taxes-$586
Insurance-$175
Utilities$0
HOA$0
Management-$436
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$69,052(58.9% ROI)
Projected value
$631,034
Return breakdown
Property appreciation+$45,056
Loan principal paid down+$16,795
Rental cash flow+$7,200
5-year hold
+$118,953(101.5% ROI)
Projected value
$662,980
Return breakdown
Property appreciation+$77,002
Loan principal paid down+$29,951
Rental cash flow+$12,000
10-year hold
+$259,490(221.4% ROI)
Projected value
$750,101
Return breakdown
Property appreciation+$164,123
Loan principal paid down+$71,367
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.02
1 BR
1.04
2 BR
0.89
3 BR
0.88
4 BR
0.71
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 94024 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 94024 (Los Altos, CA) is $4,030 a month. That is down 7.1% from $4,340 in FY 2026. Los Altos is in the San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 101 ZIP codes in Santa Clara County, 94024 has the 6th-highest two-bedroom rent (county range $2,290–$4,480). The median county two-bedroom FMR in California is $1,725, so ZIP 94024 is 134% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 94024
BedroomsFY 2027Change90–110% range
Studio$3,030−7.1%$2,727–$3,333
1BR$3,420−7.8%$3,078–$3,762
2BR$4,030−7.1%$3,627–$4,433
3BR$5,420−5.4%$4,878–$5,962
4BR$5,770−7.5%$5,193–$6,347

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 94024
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$3,030$3,420$4,030$5,420$5,770
FY 2026$3,260$3,710$4,340$5,730$6,240
FY 2025$3,240$3,690$4,280$5,560$6,060
FY 2024$3,130$3,540$4,120$5,270$5,820
FY 2023$3,110$3,510$4,110$5,240$5,870

Two-bedroom rent in nearby Santa Clara County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 94024
94022$3,990−1.0%
94023$3,270−18.9%
94024Current$4,030—
94035$3,270−18.9%
94039$3,270−18.9%
94040$4,050+0.5%
94041$3,710−7.9%
94042$3,270−18.9%
94043$3,670−8.9%
94085$4,020−0.2%
94086$3,610−10.4%
94087$3,860−4.2%

Questions about ZIP 94024 rents

How much will Section 8 pay for a two-bedroom in ZIP 94024?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $4,030, that basic range is $3,627 to $4,433 a month. 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 94024 in?

ZIP 94024 is in the San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 94024 for FY 2027?

The two-bedroom FMR fell 7.1%, from $4,340 in FY 2026 to $4,030 in FY 2027. Since FY 2023 it has fallen 1.9%.

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

County fair market rentLos Altos, CA fair market rentCA statewide rentsWhat is SAFMR?Data sources