Skip to main content
Loading page
Marin County/Novato/94947

94947

ZIPSAFMR
Marin County, CA
Zillow

ZIP Investment Score

80Below average

095130300
BRFMR
Eff. Rent
0 BR$2,370$2,550
1 BR$2,760$2,580
2 BR$3,400$3,630
3 BR$4,440$4,430
4 BR$5,000$4,770
5 BR$5,750Not available
6 BR$6,612Not available
7 BR$7,604Not available
8 BR$8,745Not available

Purchase Price Calculator

Maximum purchase price
$477,500

Cost breakdown

+Likely effective rent$3,630
HUD FMR$3,400
Market rent$3,760
Est. payment standard (107%)Used$3,630
-Principal and interest-$2,414
Loan amount$382,000
Down payment$95,500
Rate6.50%
Term30 years
-Operating costs-$1,016
Property taxes-$478
Insurance-$175
Utilities$0
HOA$0
Management-$363
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$57,601(60.3% ROI)
Projected value
$514,215
Return breakdown
Property appreciation+$36,715
Loan principal paid down+$13,686
Rental cash flow+$7,200
5-year hold
+$99,153(103.8% ROI)
Projected value
$540,247
Return breakdown
Property appreciation+$62,747
Loan principal paid down+$24,406
Rental cash flow+$12,000
10-year hold
+$215,896(226.1% ROI)
Projected value
$611,240
Return breakdown
Property appreciation+$133,740
Loan principal paid down+$58,155
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

Market Alignment

Studio
0.89
1 BR
1.07
2 BR
0.90
3 BR
1.00
4 BR
1.05
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 94947 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 94947 (Novato, CA) is $3,400 a month. That is up 4.3% from $3,260 in FY 2026. Novato 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, 94947 has the 27th-highest two-bedroom rent (county range $3,250–$4,710). The median county two-bedroom FMR in California is $1,725, so ZIP 94947 is 97% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 94947
BedroomsFY 2027Change90–110% range
Studio$2,370+5.3%$2,133–$2,607
1BR$2,760+2.6%$2,484–$3,036
2BR$3,400+4.3%$3,060–$3,740
3BR$4,440+6.7%$3,996–$4,884
4BR$5,000+15.7%$4,500–$5,500

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 94947
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,370$2,760$3,400$4,440$5,000
FY 2026$2,250$2,690$3,260$4,160$4,320
FY 2025$2,070$2,540$3,030$3,710$4,030
FY 2024$2,030$2,490$2,970$3,640$3,960
FY 2023$1,950$2,410$2,880$3,710$4,040

Two-bedroom rent in nearby Marin County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 94947
94938$3,250−4.4%
94939$4,170+22.6%
94940$3,250−4.4%
94941$4,110+20.9%
94942$3,590+5.6%
94945$3,250−4.4%
94946$3,250−4.4%
94947Current$3,400—
94948$3,590+5.6%
94949$3,590+5.6%
94950$3,250−4.4%
94956$3,250−4.4%

Questions about ZIP 94947 rents

How much will Section 8 pay for a two-bedroom in ZIP 94947?

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 $3,400 it would be $3,060 to $3,740. 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 94947 in?

ZIP 94947 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 94947 for FY 2027?

The two-bedroom FMR rose 4.3%, from $3,260 in FY 2026 to $3,400 in FY 2027. Since FY 2023 it has risen 18.1%.

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