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San Mateo County/Portola Valley/94028

94028

ZIPSAFMR
San Mateo County, CA
Zillow

ZIP Investment Score

22Below average

095130300
BRFMR
Eff. Rent
0 BR$2,700$2,790
1 BR$3,120$3,430
2 BR$3,790$4,170
3 BR$5,000$5,500
4 BR$5,540$6,090
5 BR$6,371Not available
6 BR$7,327Not available
7 BR$8,426Not available
8 BR$9,689Not available

Purchase Price Calculator

Maximum purchase price
$557,744

Cost breakdown

+Likely effective rent$4,170
HUD FMR$3,790
Market rent$5,070
Est. payment standard (110%)Used$4,170
-Principal and interest-$2,820
Loan amount$446,195
Down payment$111,549
Rate6.50%
Term30 years
-Operating costs-$1,150
Property taxes-$558
Insurance-$175
Utilities$0
HOA$0
Management-$417
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$66,071(59.2% ROI)
Projected value
$600,629
Return breakdown
Property appreciation+$42,885
Loan principal paid down+$15,986
Rental cash flow+$7,200
5-year hold
+$113,800(102.0% ROI)
Projected value
$631,036
Return breakdown
Property appreciation+$73,292
Loan principal paid down+$28,508
Rental cash flow+$12,000
10-year hold
+$248,144(222.5% ROI)
Projected value
$713,959
Return breakdown
Property appreciation+$156,215
Loan principal paid down+$67,928
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.95
1 BR
0.86
2 BR
0.75
3 BR
0.73
4 BR
0.51
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 94028 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 94028 (Portola Valley, CA) is $3,790 a month. That is down 0.8% from $3,820 in FY 2026. Portola Valley is in the San Francisco, CA HUD Metro FMR Area. 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 $3,697. Among 35 ZIP codes in San Mateo County, 94028 has the 26th-highest two-bedroom rent (county range $3,250–$5,050). The median county two-bedroom FMR in California is $1,725, so ZIP 94028 is 120% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 94028
BedroomsFY 2027Change90–110% range
Studio$2,700−0.4%$2,430–$2,970
1BR$3,120−2.2%$2,808–$3,432
2BR$3,790−0.8%$3,411–$4,169
3BR$5,000+1.2%$4,500–$5,500
4BR$5,540+6.7%$4,986–$6,094

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 94028
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,700$3,120$3,790$5,000$5,540
FY 2026$2,710$3,190$3,820$4,940$5,190
FY 2025$2,550$3,050$3,600$4,550$4,880
FY 2024$2,550$3,030$3,570$4,450$4,870
FY 2023$2,390$2,850$3,380$4,210$4,660

Two-bedroom rent in nearby San Mateo County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 94028
94017$3,930+3.7%
94018$3,320−12.4%
94019$3,320−12.4%
94020$4,100+8.2%
94021$3,930+3.7%
94025$4,290+13.2%
94026$3,930+3.7%
94027$4,160+9.8%
94028Current$3,790—
94030$4,460+17.7%
94037$4,170+10.0%
94038$3,320−12.4%

Questions about ZIP 94028 rents

How much will Section 8 pay for a two-bedroom in ZIP 94028?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $3,697, which applies unless the housing authority uses Small Area FMRs, that basic range is $3,327 to $4,067 a month; under the ZIP-level Small Area FMR of $3,790 it would be $3,411 to $4,169. 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 94028 in?

ZIP 94028 is in the San Francisco, CA HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $3,697.

How much did fair market rent change in ZIP 94028 for FY 2027?

The two-bedroom FMR fell 0.8%, from $3,820 in FY 2026 to $3,790 in FY 2027. Since FY 2023 it has risen 12.1%.

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