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San Mateo County/Redwood City/94061

94061

ZIPSAFMR
San Mateo County, CA
Zillow

ZIP Investment Score

43Below average

095130300
BRFMR
Eff. Rent
0 BR$2,650$2,480
1 BR$3,100$3,080
2 BR$3,810$3,650
3 BR$4,980$5,100
4 BR$5,600$6,160
5 BR$6,440Not available
6 BR$7,406Not available
7 BR$8,517Not available
8 BR$9,794Not available

Purchase Price Calculator

Maximum purchase price
$480,472

Cost breakdown

+Likely effective rent$3,650
HUD FMR$3,810
Market rentUsed$3,650
Est. payment standard (97%)$3,710
-Principal and interest-$2,430
Loan amount$384,378
Down payment$96,094
Rate6.50%
Term30 years
-Operating costs-$1,020
Property taxes-$480
Insurance-$175
Utilities$0
HOA$0
Management-$365
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$57,915(60.3% ROI)
Projected value
$517,416
Return breakdown
Property appreciation+$36,944
Loan principal paid down+$13,771
Rental cash flow+$7,200
5-year hold
+$99,696(103.7% ROI)
Projected value
$543,610
Return breakdown
Property appreciation+$63,138
Loan principal paid down+$24,558
Rental cash flow+$12,000
10-year hold
+$217,090(225.9% ROI)
Projected value
$615,045
Return breakdown
Property appreciation+$134,573
Loan principal paid down+$58,517
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.07
1 BR
1.01
2 BR
1.04
3 BR
0.97
4 BR
0.75
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 94061 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 94061 (Redwood City, CA) is $3,810 a month. That is up 0.3% from $3,800 in FY 2026. Redwood City 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, 94061 has the 24th-highest two-bedroom rent (county range $3,250–$5,050). The median county two-bedroom FMR in California is $1,725, so ZIP 94061 is 121% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 94061
BedroomsFY 2027Change90–110% range
Studio$2,650+1.1%$2,385–$2,915
1BR$3,100−1.3%$2,790–$3,410
2BR$3,810+0.3%$3,429–$4,191
3BR$4,980+2.7%$4,482–$5,478
4BR$5,600+11.3%$5,040–$6,160

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 94061
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,650$3,100$3,810$4,980$5,600
FY 2026$2,620$3,140$3,800$4,850$5,030
FY 2025$2,340$2,860$3,410$4,250$4,520
FY 2024$2,430$2,990$3,560$4,360$4,740
FY 2023$2,340$2,890$3,460$4,250$4,650

Two-bedroom rent in nearby San Mateo County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 94061
94044$4,170+9.4%
94060$3,930+3.1%
94061Current$3,810—
94062$3,870+1.6%
94063$3,850+1.0%
94064$3,930+3.1%
94065$4,370+14.7%
94066$3,580−6.0%
94070$3,840+0.8%
94074$3,600−5.5%
94080$3,640−4.5%
94083$3,930+3.1%

Questions about ZIP 94061 rents

How much will Section 8 pay for a two-bedroom in ZIP 94061?

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 $3,810 it would be $3,429 to $4,191. 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 94061 in?

ZIP 94061 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 94061 for FY 2027?

The two-bedroom FMR rose 0.3%, from $3,800 in FY 2026 to $3,810 in FY 2027. Since FY 2023 it has risen 10.1%.

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