94915

ZIPSAFMR

Marin County, CA

ZIP Investment Score

095130300

BR	FMR	Eff. Rent	3Y CAGR
0 BR	$2,500	$2,100	4.0%
1 BR	$2,920	$2,520	2.3%
2 BR	$3,590	$3,600	3.4%
3 BR	$4,690	$4,530	5.6%
4 BR	$5,280	$5,380	6.8%
5 BR	$6,072	Not available	6.8%
6 BR	$6,983	Not available	6.8%
7 BR	$8,030	Not available	6.8%
8 BR	$9,235	Not available	6.8%

Purchase Price Calculator

Maximum purchase price

$473,042

Cost breakdown

+Likely effective rent$3,600

HUD FMR$3,590

Market rent$3,610

Est. payment standard (100%)Used$3,600

-Principal and interest-$2,392

Loan amount$378,434

Down payment$94,608

Rate6.50%

Term30 years

-Operating costs-$1,008

Property taxes-$473

Insurance-$175

Utilities$0

HOA$0

Management-$360

=Target cash flow+$200

Calculation mode

BedroomsCash-flow target

Down payment methodDown payment %

HOA / mo

Utilities methodUtilities amount

Management methodManagement % of rent

Hold period projections

Annual appreciation rate

3-year hold

+$57,131(60.4% ROI)

Projected value

$509,415

Return breakdown

Property appreciation+$36,372

Loan principal paid down+$13,558

Rental cash flow+$7,200

5-year hold

+$98,340(103.9% ROI)

Projected value

$535,204

Return breakdown

Property appreciation+$62,162

Loan principal paid down+$24,178

Rental cash flow+$12,000

10-year hold

+$214,104(226.3% ROI)

Projected value

$605,534

Return breakdown

Property appreciation+$132,492

Loan principal paid down+$57,612

Rental cash flow+$24,000

Public Housing Authority

Rolodex

Market Alignment

Studio

1.19ratio

FMR$2,500

Market$2,100

vs market+$400

FMR is above market; underwrite to market rent.

1.19

1 BR

1.16ratio

FMR$2,920

Market$2,520

vs market+$400

FMR is above market; underwrite to market rent.

1.16

2 BR

0.99ratio

FMR$3,590

Market$3,610

vs market-$20

FMR is near market; voucher and private rents are aligned.

0.99

3 BR

1.04ratio

FMR$4,690

Market$4,530

vs market+$160

FMR is near market; voucher and private rents are aligned.

1.04

4 BR

0.97ratio

FMR$5,280

Market$5,440

vs market-$160

FMR is near market; voucher and private rents are aligned.

0.97

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 94915 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 94915 (San Rafael, CA) is $3,590 a month. That is up 3.2% from $3,480 in FY 2026. San Rafael 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 39 ZIP codes in Marin County, 94915 is tied for the 12th-highest two-bedroom rent (county range $3,250–$4,710). The median county two-bedroom FMR in California is $1,725, so ZIP 94915 is 108% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 94915
Bedrooms	FY 2026	FY 2027	Change	90–110% range
Studio	$2,400	$2,500	+4.2%	$2,250–$2,750
1BR	$2,870	$2,920	+1.7%	$2,628–$3,212
2BR	$3,480	$3,590	+3.2%	$3,231–$3,949
3BR	$4,450	$4,690	+5.4%	$4,221–$5,159
4BR	$4,610	$5,280	+14.5%	$4,752–$5,808

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 94915
Fiscal year	Studio	1BR	2BR	3BR	4BR
FY 2027	$2,500	$2,920	$3,590	$4,690	$5,280
FY 2026	$2,400	$2,870	$3,480	$4,450	$4,610
FY 2025	$2,190	$2,680	$3,200	$3,990	$4,240
FY 2024	$2,220	$2,730	$3,250	$3,980	$4,330
FY 2023	$2,100	$2,600	$3,110	$3,820	$4,180

Two-bedroom rent in nearby Marin County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code	2 bedroom	vs. 94915
94901	$3,250	−9.5%
94903	$4,350	+21.2%
94904	$3,410	−5.0%
94912	$3,590	0.0%
94913	$3,590	0.0%
94914	$3,590	0.0%
94915Current	$3,590	—
94920	$4,280	+19.2%
94924	$3,250	−9.5%
94925	$4,710	+31.2%
94929	$3,250	−9.5%
94930	$3,280	−8.6%

Questions about ZIP 94915 rents

How much will Section 8 pay for a two-bedroom in ZIP 94915?

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 $3,590 it would be $3,231 to $3,949. 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 94915 in?

ZIP 94915 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 94915 for FY 2027?

The two-bedroom FMR rose 3.2%, from $3,480 in FY 2026 to $3,590 in FY 2027. Since FY 2023 it has risen 15.4%.

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 rent San Rafael, CA fair market rent CA statewide rents What is SAFMR?Data sources