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Santa Cruz County/Aptos/95003

95003

ZIPSAFMR
Santa Cruz County, CA
Zillow

ZIP Investment Score

58Below average

095130300
BRFMR
Eff. Rent
0 BR$3,740$2,550
1 BR$3,920$3,290
2 BR$4,920$3,610
3 BR$6,400$4,760
4 BR$6,650$5,990
5 BR$7,647Not available
6 BR$8,795Not available
7 BR$10,114Not available
8 BR$11,631Not available

Purchase Price Calculator

Maximum purchase price
$474,528

Cost breakdown

+Likely effective rent$3,610
HUD FMR$4,920
Market rentUsed$3,610
Est. payment standard (90%)$4,430
-Principal and interest-$2,399
Loan amount$379,622
Down payment$94,906
Rate6.50%
Term30 years
-Operating costs-$1,011
Property taxes-$475
Insurance-$175
Utilities$0
HOA$0
Management-$361
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$57,288(60.4% ROI)
Projected value
$511,015
Return breakdown
Property appreciation+$36,487
Loan principal paid down+$13,601
Rental cash flow+$7,200
5-year hold
+$98,611(103.9% ROI)
Projected value
$536,885
Return breakdown
Property appreciation+$62,357
Loan principal paid down+$24,254
Rental cash flow+$12,000
10-year hold
+$214,701(226.2% ROI)
Projected value
$607,436
Return breakdown
Property appreciation+$132,908
Loan principal paid down+$57,793
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.47
1 BR
1.19
2 BR
1.36
3 BR
1.34
4 BR
1.11
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 95003 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 95003 (Aptos, CA) is $4,920 a month. That is up 2.3% from $4,810 in FY 2026. Aptos is in the Santa Cruz-Watsonville, 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 $4,254. Among 21 ZIP codes in Santa Cruz County, 95003 has the 4th-highest two-bedroom rent (county range $3,300–$5,260). The median county two-bedroom FMR in California is $1,725, so ZIP 95003 is 185% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 95003
BedroomsFY 2027Change90–110% range
Studio$3,740+3.0%$3,366–$4,114
1BR$3,920+4.3%$3,528–$4,312
2BR$4,920+2.3%$4,428–$5,412
3BR$6,400+4.2%$5,760–$7,040
4BR$6,650+2.9%$5,985–$7,315

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 95003
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$3,740$3,920$4,920$6,400$6,650
FY 2026$3,630$3,760$4,810$6,140$6,460
FY 2025$3,420$3,600$4,720$5,870$6,270
FY 2024$3,230$3,500$4,600$5,670$6,250
FY 2023$2,530$2,860$3,760$4,650$5,220

Two-bedroom rent in nearby Santa Cruz County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 95003
95001$4,250−13.6%
95003Current$4,920—
95005$4,450−9.6%
95006$3,980−19.1%
95007$3,940−19.9%
95010$4,480−8.9%
95017$4,700−4.5%
95018$4,310−12.4%
95019$3,800−22.8%
95041$4,070−17.3%
95060$5,260+6.9%
95061$4,250−13.6%

Questions about ZIP 95003 rents

How much will Section 8 pay for a two-bedroom in ZIP 95003?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $4,254, which applies unless the housing authority uses Small Area FMRs, that basic range is $3,829 to $4,679 a month; under the ZIP-level Small Area FMR of $4,920 it would be $4,428 to $5,412. 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 95003 in?

ZIP 95003 is in the Santa Cruz-Watsonville, CA MSA. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $4,254.

How much did fair market rent change in ZIP 95003 for FY 2027?

The two-bedroom FMR rose 2.3%, from $4,810 in FY 2026 to $4,920 in FY 2027. Since FY 2023 it has risen 30.9%.

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