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Santa Clara County/San Jose/95131

95131

ZIPSAFMR
Santa Clara County, CA
Zillow

ZIP Investment Score

48Below average

095130300
BRFMR
Eff. Rent
0 BR$2,720$2,450
1 BR$3,070$2,500
2 BR$3,620$3,560
3 BR$4,860$4,060
4 BR$5,190$4,750
5 BR$5,968Not available
6 BR$6,864Not available
7 BR$7,893Not available
8 BR$9,077Not available

Purchase Price Calculator

Maximum purchase price
$467,098

Cost breakdown

+Likely effective rent$3,560
HUD FMR$3,620
Market rentUsed$3,560
Est. payment standard (99%)$3,580
-Principal and interest-$2,362
Loan amount$373,678
Down payment$93,420
Rate6.50%
Term30 years
-Operating costs-$998
Property taxes-$467
Insurance-$175
Utilities$0
HOA$0
Management-$356
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$56,503(60.5% ROI)
Projected value
$503,014
Return breakdown
Property appreciation+$35,915
Loan principal paid down+$13,388
Rental cash flow+$7,200
5-year hold
+$97,255(104.1% ROI)
Projected value
$528,479
Return breakdown
Property appreciation+$61,381
Loan principal paid down+$23,874
Rental cash flow+$12,000
10-year hold
+$211,715(226.6% ROI)
Projected value
$597,925
Return breakdown
Property appreciation+$130,827
Loan principal paid down+$56,888
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.11
1 BR
1.23
2 BR
1.02
3 BR
1.20
4 BR
1.09
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 95131 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 95131 (San Jose, CA) is $3,620 a month. That is down 5.2% from $3,820 in FY 2026. San Jose is in the San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. Among 101 ZIP codes in Santa Clara County, 95131 has the 23rd-highest two-bedroom rent (county range $2,290–$4,480). The median county two-bedroom FMR in California is $1,725, so ZIP 95131 is 110% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 95131
BedroomsFY 2027Change90–110% range
Studio$2,720−5.2%$2,448–$2,992
1BR$3,070−6.1%$2,763–$3,377
2BR$3,620−5.2%$3,258–$3,982
3BR$4,860−3.8%$4,374–$5,346
4BR$5,190−5.5%$4,671–$5,709

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 95131
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,720$3,070$3,620$4,860$5,190
FY 2026$2,870$3,270$3,820$5,050$5,490
FY 2025$2,820$3,220$3,730$4,850$5,280
FY 2024$2,590$2,920$3,400$4,350$4,800
FY 2023$2,460$2,790$3,260$4,160$4,660

Two-bedroom rent in nearby Santa Clara County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 95131
95125$3,020−16.6%
95126$3,250−10.2%
95127$2,940−18.8%
95128$3,310−8.6%
95129$3,230−10.8%
95130$2,640−27.1%
95131Current$3,620—
95132$3,630+0.3%
95133$3,000−17.1%
95134$4,460+23.2%
95135$3,640+0.6%
95136$3,150−13.0%

Questions about ZIP 95131 rents

How much will Section 8 pay for a two-bedroom in ZIP 95131?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,620, that basic range is $3,258 to $3,982 a month. 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 95131 in?

ZIP 95131 is in the San Jose-Sunnyvale-Santa Clara, CA HUD Metro FMR Area. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.

How much did fair market rent change in ZIP 95131 for FY 2027?

The two-bedroom FMR fell 5.2%, from $3,820 in FY 2026 to $3,620 in FY 2027. Since FY 2023 it has risen 11.0%.

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