95123
ZIPSAFMR
Santa Clara County, CA
BRFMR
Eff. Rent
0 BR$2,660$2,220
1 BR$3,030$2,460
2 BR$3,540$3,200
3 BR$4,680$4,170
4 BR$5,090$4,800
5 BR$5,854
6 BR$6,732
7 BR$7,741
8 BR$8,902

Market Alignment

How HUD fair market rents align with the state of the rental market.

Studio
Studio
1.20ratio
FMR$2,660
Market$2,220
vs market+$440

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

1.20
1 BR
1 BR
1.23ratio
FMR$3,030
Market$2,460
vs market+$570

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

1.23
2 BR
2 BR
1.11ratio
FMR$3,540
Market$3,200
vs market+$340

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

1.11
3 BR
3 BR
1.12ratio
FMR$4,680
Market$4,170
vs market+$510

FMR exceeds market. Payment is likely to be capped due to rent reasonableness requirements in this area.

1.12
4 BR
4 BR
1.06ratio
FMR$5,090
Market$4,800
vs market+$290

FMR aligns with market rates. Payment is likely to be at or near the FMR in this area.

1.06
0.700.800.901.001.101.201.30aligned range

HUD benchmarks exceed market rents for larger unit sizes.

Bedroom curve

Historical
See FMR progression in recent years

Data indexed

FMR
FY2026
Market rent
last ~365 days

Purchase Price Calculator

Maximum purchase price
$464,126
Rent
$3,540
Down payment
$92,825
Loan
$371,301
Mortgage
$2,347
Expenses
$993
Market inputs
About this result(HUD FMR/SAFMR details)

This page shows HUD Fair Market Rent data for 95123 (CA) for FY 2026. Fair Market Rent (FMR) is a HUD benchmark used to determine payment standards for programs like the Housing Choice Voucher (Section 8) program.

Values are shown for 0–4 bedroom units. In some metro areas HUD publishes Small Area FMR (SAFMR) at the ZIP-code level; otherwise the county/metropolitan-area FMR applies. This result is labeled SAFMR based on HUD's designation for the area and the available data.

Tip: use these numbers as a starting point and confirm local program rules (payment standards may differ from HUD's published FMR). If you're comparing neighborhoods, SAFMR ZIP ranges can highlight variation within the same county.