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Santa Clara County/Palo Alto/94306

94306

ZIPSAFMR
Santa Clara County, CA
Zillow

ZIP Investment Score

24Below average

095130300
BRFMR
Eff. Rent
0 BR$2,650$2,620
1 BR$3,000$3,300
2 BR$3,530$3,880
3 BR$4,740$5,210
4 BR$5,060$5,570
5 BR$5,819Not available
6 BR$6,692Not available
7 BR$7,696Not available
8 BR$8,850Not available

Purchase Price Calculator

Maximum purchase price
$514,650

Cost breakdown

+Likely effective rent$3,880
HUD FMR$3,530
Market rent$5,050
Est. payment standard (110%)Used$3,880
-Principal and interest-$2,602
Loan amount$411,720
Down payment$102,930
Rate6.50%
Term30 years
-Operating costs-$1,078
Property taxes-$515
Insurance-$175
Utilities$0
HOA$0
Management-$388
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$61,523(59.8% ROI)
Projected value
$554,222
Return breakdown
Property appreciation+$39,572
Loan principal paid down+$14,751
Rental cash flow+$7,200
5-year hold
+$105,934(102.9% ROI)
Projected value
$582,279
Return breakdown
Property appreciation+$67,629
Loan principal paid down+$26,305
Rental cash flow+$12,000
10-year hold
+$230,825(224.3% ROI)
Projected value
$658,795
Return breakdown
Property appreciation+$144,145
Loan principal paid down+$62,680
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.01
1 BR
0.83
2 BR
0.70
3 BR
0.68
4 BR
0.61
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 94306 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 94306 (Palo Alto, CA) is $3,530 a month. That is down 6.9% from $3,790 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, 94306 has the 27th-highest two-bedroom rent (county range $2,290–$4,480). The median county two-bedroom FMR in California is $1,725, so ZIP 94306 is 105% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 94306
BedroomsFY 2027Change90–110% range
Studio$2,650−7.0%$2,385–$2,915
1BR$3,000−7.4%$2,700–$3,300
2BR$3,530−6.9%$3,177–$3,883
3BR$4,740−5.4%$4,266–$5,214
4BR$5,060−7.2%$4,554–$5,566

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 94306
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,650$3,000$3,530$4,740$5,060
FY 2026$2,850$3,240$3,790$5,010$5,450
FY 2025$2,860$3,260$3,780$4,910$5,350
FY 2024$2,590$2,920$3,400$4,350$4,800
FY 2023$2,400$2,710$3,170$4,040$4,530

Two-bedroom rent in nearby Santa Clara County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 94306
94085$4,020+13.9%
94086$3,610+2.3%
94087$3,860+9.3%
94088$3,270−7.4%
94089$3,770+6.8%
94301$3,650+3.4%
94302$3,270−7.4%
94303$3,390−4.0%
94304$3,880+9.9%
94305$2,290−35.1%
94306Current$3,530—
94309$3,270−7.4%

Questions about ZIP 94306 rents

How much will Section 8 pay for a two-bedroom in ZIP 94306?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,530, that basic range is $3,177 to $3,883 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 94306 in?

ZIP 94306 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 94306 for FY 2027?

The two-bedroom FMR fell 6.9%, from $3,790 in FY 2026 to $3,530 in FY 2027. Since FY 2023 it has risen 11.4%.

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