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Sonoma County/Bodega Bay/94923

94923

ZIPSAFMR
Sonoma County, CA
Zillow

ZIP Investment Score

33Below average

095130300
BRFMR
Eff. Rent
0 BR$1,760$1,760
1 BR$1,940$1,940
2 BR$2,550$2,550
3 BR$3,500$3,500
4 BR$3,740$3,740
5 BR$4,301Not available
6 BR$4,946Not available
7 BR$5,688Not available
8 BR$6,541Not available

Purchase Price Calculator

Maximum purchase price
$317,012

Cost breakdown

+Likely effective rent$2,550
HUD FMRUsed$2,550
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,603
Loan amount$253,610
Down payment$63,402
Rate6.50%
Term30 years
-Operating costs-$747
Property taxes-$317
Insurance-$175
Utilities$0
HOA$0
Management-$255
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$40,662(64.1% ROI)
Projected value
$341,388
Return breakdown
Property appreciation+$24,375
Loan principal paid down+$9,086
Rental cash flow+$7,200
5-year hold
+$69,861(110.2% ROI)
Projected value
$358,671
Return breakdown
Property appreciation+$41,658
Loan principal paid down+$16,203
Rental cash flow+$12,000
10-year hold
+$151,400(238.8% ROI)
Projected value
$405,803
Return breakdown
Property appreciation+$88,790
Loan principal paid down+$38,609
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 94923 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 94923 (Bodega Bay, CA) is $2,550 a month. That is up 3.2% from $2,470 in FY 2026. Bodega Bay is in the Santa Rosa-Petaluma, CA MSA. 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 $2,819. Among 49 ZIP codes in Sonoma County, 94923 is tied for the 34th-highest two-bedroom rent (county range $2,550–$3,390). The median county two-bedroom FMR in California is $1,725, so ZIP 94923 is 48% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 94923
BedroomsFY 2027Change90–110% range
Studio$1,760+3.5%$1,584–$1,936
1BR$1,940+2.6%$1,746–$2,134
2BR$2,550+3.2%$2,295–$2,805
3BR$3,500+3.9%$3,150–$3,850
4BR$3,740+4.8%$3,366–$4,114

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 94923
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,760$1,940$2,550$3,500$3,740
FY 2026$1,700$1,890$2,470$3,370$3,570
FY 2025$1,820$2,030$2,650$3,620$3,830
FY 2024$1,850$2,070$2,730$3,700$3,920
FY 2023$1,240$1,400$1,840$2,570$2,850

Two-bedroom rent in nearby Sonoma County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 94923
94922$2,5500.0%
94923Current$2,550—
94927$2,820+10.6%
94928$3,080+20.8%
94931$2,5500.0%
94951$2,720+6.7%
94952$3,250+27.5%
94953$2,820+10.6%
94954$3,390+32.9%
94955$2,820+10.6%
94972$2,820+10.6%
94975$2,820+10.6%

Questions about ZIP 94923 rents

How much will Section 8 pay for a two-bedroom in ZIP 94923?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $2,819, which applies unless the housing authority uses Small Area FMRs, that basic range is $2,537 to $3,101 a month; under the ZIP-level Small Area FMR of $2,550 it would be $2,295 to $2,805. 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 94923 in?

ZIP 94923 is in the Santa Rosa-Petaluma, CA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $2,819.

How much did fair market rent change in ZIP 94923 for FY 2027?

The two-bedroom FMR rose 3.2%, from $2,470 in FY 2026 to $2,550 in FY 2027. Since FY 2023 it has risen 38.6%.

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

County fair market rentBodega Bay, CA fair market rentCA statewide rentsWhat is SAFMR?Data sources