94040
ZIPSAFMR
Santa Clara County, CA
BRFMR
Eff. Rent
0 BR$3,200$2,620
1 BR$3,640$3,320
2 BR$4,250$4,250
3 BR$5,620$5,620
4 BR$6,110$6,110
5 BR$7,026
6 BR$8,080
7 BR$9,293
8 BR$10,686

Market Alignment

How HUD fair market rents align with the state of the rental market.

Studio
Studio
1.22ratio
FMR$3,200
Market$2,620
vs market+$580

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

1.22
1 BR
1 BR
1.10ratio
FMR$3,640
Market$3,320
vs market+$320

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

1.10
2 BR
2 BR
0.93ratio
FMR$4,250
Market$4,560
vs market-$310

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

0.93
3 BR
3 BR
0.91ratio
FMR$5,620
Market$6,150
vs market-$530

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

0.91
4 BR
4 BR
0.80ratio
FMR$6,110
Market$7,670
vs market-$1,560

FMR falls below market. Section 8 income will likely be below what private tenants pay in this area.

0.80
0.700.800.901.001.101.201.30aligned range

Voucher alignment varies significantly by bedroom size in this area.

Bedroom curve

Historical
See FMR progression in recent years

Data indexed

FMR
FY2026
Market rent
last ~365 days

Purchase Price Calculator

Maximum purchase price
$569,632
Rent
$4,250
Down payment
$113,926
Loan
$455,705
Mortgage
$2,880
Expenses
$1,170
Market inputs
About this result(HUD FMR/SAFMR details)

This page shows HUD Fair Market Rent data for 94040 (CA) for FY 2026. Fair Market Rent (FMR) is a HUD benchmark used to determine payment standards for programs like the Housing Choice Voucher (Section 8) program.

Values are shown for 0–4 bedroom units. In some metro areas HUD publishes Small Area FMR (SAFMR) at the ZIP-code level; otherwise the county/metropolitan-area FMR applies. This result is labeled SAFMR based on HUD's designation for the area and the available data.

Tip: use these numbers as a starting point and confirm local program rules (payment standards may differ from HUD's published FMR). If you're comparing neighborhoods, SAFMR ZIP ranges can highlight variation within the same county.