FMR is below market; voucher rent may lag private rents.
0.87
1 BR
1 BR
0.80ratio
FMR$3,190
Market$3,990
vs market-$800
FMR is below market; voucher rent may lag private rents.
0.80
2 BR
2 BR
0.69ratio
FMR$3,930
Market$5,690
vs market-$1,760
FMR is below market; voucher rent may lag private rents.
0.69
3 BR
3 BR
0.84ratio
FMR$5,140
Market$6,110
vs market-$970
FMR is below market; voucher rent may lag private rents.
0.84
4 BR
4 BR
0.94ratio
FMR$5,780
Market$6,130
vs market-$350
FMR is near market; voucher and private rents are aligned.
0.94
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--
ZIP 94125 fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 94125 (San Francisco, CA) is $3,930 a month. That is up 1.6% from $3,870 in FY 2026. San Francisco 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 37 ZIP codes in San Francisco County, 94125 is tied for the 10th-highest two-bedroom rent (county range $3,250–$4,930). The median county two-bedroom FMR in California is $1,725, so ZIP 94125 is 128% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for 94125
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,670
$2,740
+2.6%
$2,466–$3,014
1BR
$3,200
$3,190
−0.3%
$2,871–$3,509
2BR
$3,870
$3,930
+1.6%
$3,537–$4,323
3BR
$4,940
$5,140
+4.0%
$4,626–$5,654
4BR
$5,120
$5,780
+12.9%
$5,202–$6,358
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for 94125
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,740
$3,190
$3,930
$5,140
$5,780
FY 2026
$2,670
$3,200
$3,870
$4,940
$5,120
FY 2025
$2,440
$2,980
$3,560
$4,440
$4,720
FY 2024
$2,460
$3,020
$3,600
$4,410
$4,790
FY 2023
$2,300
$2,840
$3,400
$4,170
$4,570
Two-bedroom rent in nearby San Francisco County ZIP codes
How much will Section 8 pay for a two-bedroom in ZIP 94125?
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 $3,930 it would be $3,537 to $4,323. 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 94125 in?
ZIP 94125 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 94125 for FY 2027?
The two-bedroom FMR rose 1.6%, from $3,870 in FY 2026 to $3,930 in FY 2027. Since FY 2023 it has risen 15.6%.
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