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Santa Clara County/Palo Alto/94301

94301

ZIPSAFMR
Santa Clara County, CA
Zillow

ZIP Investment Score

19Below average

095130300
BRFMR
Eff. Rent
0 BR$2,680$2,950
1 BR$3,050$3,360
2 BR$3,650$4,020
3 BR$4,830$5,310
4 BR$5,300$5,830
5 BR$6,095Not available
6 BR$7,009Not available
7 BR$8,061Not available
8 BR$9,270Not available

Purchase Price Calculator

Maximum purchase price
$535,454

Cost breakdown

+Likely effective rent$4,020
HUD FMR$3,650
Market rent$5,260
Est. payment standard (110%)Used$4,020
-Principal and interest-$2,708
Loan amount$428,363
Down payment$107,091
Rate6.50%
Term30 years
-Operating costs-$1,112
Property taxes-$535
Insurance-$175
Utilities$0
HOA$0
Management-$402
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$63,719(59.5% ROI)
Projected value
$576,625
Return breakdown
Property appreciation+$41,171
Loan principal paid down+$15,347
Rental cash flow+$7,200
5-year hold
+$109,731(102.5% ROI)
Projected value
$605,817
Return breakdown
Property appreciation+$70,363
Loan principal paid down+$27,368
Rental cash flow+$12,000
10-year hold
+$239,186(223.3% ROI)
Projected value
$685,426
Return breakdown
Property appreciation+$149,972
Loan principal paid down+$65,213
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
0.79
1 BR
0.69
2 BR
0.69
3 BR
0.70
4 BR
0.46
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 94301 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 94301 (Palo Alto, CA) is $3,650 a month. That is down 7.6% from $3,950 in FY 2026. Palo Alto 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, 94301 has the 19th-highest two-bedroom rent (county range $2,290–$4,480). The median county two-bedroom FMR in California is $1,725, so ZIP 94301 is 112% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 94301
BedroomsFY 2027Change90–110% range
Studio$2,680−9.8%$2,412–$2,948
1BR$3,050−9.8%$2,745–$3,355
2BR$3,650−7.6%$3,285–$4,015
3BR$4,830−7.5%$4,347–$5,313
4BR$5,300−6.7%$4,770–$5,830

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 94301
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,680$3,050$3,650$4,830$5,300
FY 2026$2,970$3,380$3,950$5,220$5,680
FY 2025$2,940$3,350$3,880$5,040$5,490
FY 2024$2,660$3,010$3,500$4,480$4,940
FY 2023$2,500$2,830$3,310$4,220$4,730

Two-bedroom rent in nearby Santa Clara County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 94301
94085$4,020+10.1%
94086$3,610−1.1%
94087$3,860+5.8%
94088$3,270−10.4%
94089$3,770+3.3%
94301Current$3,650—
94302$3,270−10.4%
94303$3,390−7.1%
94304$3,880+6.3%
94305$2,290−37.3%
94306$3,530−3.3%
94309$3,270−10.4%

Questions about ZIP 94301 rents

How much will Section 8 pay for a two-bedroom in ZIP 94301?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,650, that basic range is $3,285 to $4,015 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 94301 in?

ZIP 94301 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 94301 for FY 2027?

The two-bedroom FMR fell 7.6%, from $3,950 in FY 2026 to $3,650 in FY 2027. Since FY 2023 it has risen 10.3%.

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 rentPalo Alto, CA fair market rentCA statewide rentsWhat is SAFMR?Data sources