HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in San Mateo County, California (FY 2027)
HUD's FY 2027 Fair Market Rent for a two-bedroom in San Mateo County is $3,697 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
Two-bedroom FMR
$3,697
+2.6% from FY 2026
Payment standard
$3,327–$4,067
90% to 110% of the FMR, two-bedroom
Income to afford
$147,880
a year, with rent at 30% of income
Rank in California
4th of 58
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $2,574 | $2,317–$2,831 | $102,960 | $49.50/hr | +3.6% |
| 1 bedroom | $3,003 | $2,703–$3,303 | $120,120 | $57.75/hr | +0.9% |
| 2 bedroom | $3,697 | $3,327–$4,067 | $147,880 | $71.10/hr | +2.6% |
| 3 bedroom | $4,832 | $4,349–$5,315 | $193,280 | $92.92/hr | +5.0% |
| 4 bedroom | $5,439 | $4,895–$5,983 | $217,560 | $104.60/hr | +14.0% |
Five to eight bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $6,255 | $5,630–$6,881 |
| 6 bedroom Estimate | $7,071 | $6,364–$7,778 |
| 7 bedroom Estimate | $7,887 | $7,098–$8,676 |
| 8 bedroom Estimate | $8,702 | $7,832–$9,572 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in San Mateo actually rent for?
Search any address in San Mateo for a rent estimate built from nearby comps, with the HUD figure right next to it.
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What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in San Mateo somewhere between $3,327 and $4,067. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$3,697 a month is affordable, by HUD's 30% rule, on an income of roughly $147,880 a year. Put another way, $71 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$3,327 | Voucher pays at 100%$3,697 | Voucher pays at 110%$4,067 |
|---|---|---|---|---|
| $2,500 | $750 | $2,577 | $2,947 | $3,317 |
| $4,000 | $1,200 | $2,127 | $2,497 | $2,867 |
Rate history
The two-bedroom rate went up 3% from FY 2026 ($3,604) to FY 2027 ($3,697). Since FY 2020 it's up 11% in total, about 1.5% a year. The California median moved up 2% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $2,197 | $2,720 | $3,339 | $4,365 | $4,657 | — |
| FY 2021 | $2,350 | $2,923 | $3,553 | $4,567 | $4,970 | +6.4% |
| FY 2022 | $2,115 | $2,631 | $3,198 | $4,111 | $4,473 | -10.0% |
| FY 2023 | $2,156 | $2,665 | $3,188 | $3,912 | $4,283 | -0.3% |
| FY 2024 | $2,292 | $2,818 | $3,359 | $4,112 | $4,473 | +5.4% |
| FY 2025 | $2,275 | $2,780 | $3,318 | $4,138 | $4,399 | -1.2% |
| FY 2026 | $2,485 | $2,977 | $3,604 | $4,604 | $4,772 | +8.6% |
| FY 2027In effect | $2,574 | $3,003 | $3,697 | $4,832 | $5,439 | +2.6% |
About this rate
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2027 that's October 1, 2026 through September 30, 2027. In San Mateo, that runs from $2,574 for a studio up to $5,439 for four bedrooms, all five rates in the table above.
This is a metro rate. The county doesn't get one of its own. HUD lumps San Mateo in with 2 other counties in the San Francisco metro, San Francisco County, Marin County among them, and every one of them gets $3,697 for a two-bedroom. Where you are inside the metro doesn't change the county number. It does change the ZIP number, covered below.
Among California's 58 counties, San Mateo ranks 4th for two-bedroom FMR. That's about 114% above the state median of $1,725 and about 248% above the national median county at $1,063. About 742,340 people live here, 15th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $3,250 in 94014 (Daly City) and $5,050 in 94404 (San Mateo), with the 36 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 94002 | Belmont | $3,940 | +6.6% |
| 94005 | Brisbane | $3,540 | -4.2% |
| 94010 | Burlingame | $3,880 | +4.9% |
| 94011 | Burlingame | $3,930 | +6.3% |
| 94014 | Daly City | $3,250 | -12.1% |
| 94015 | Daly City | $3,800 | +2.8% |
| 94016 | Daly City | $3,697County rate | — |
| 94017 | Daly City | $3,930 | +6.3% |
| 94018 | El Granada | $3,320 | -10.2% |
| 94019 | Half Moon Bay | $3,320 | -10.2% |
| 94020 | La Honda | $4,100 | +10.9% |
| 94021 | Loma Mar | $3,930 | +6.3% |
| 94025 | Menlo Park | $4,290 | +16.0% |
| 94026 | Menlo Park | $3,930 | +6.3% |
| 94027 | Atherton | $4,160 | +12.5% |
| 94028 | Portola Valley | $3,790 | +2.5% |
| 94030 | Millbrae | $4,460 | +20.6% |
| 94037 | Montara | $4,170 | +12.8% |
| 94038 | Moss Beach | $3,320 | -10.2% |
| 94044 | Pacifica | $4,170 | +12.8% |
| 94060 | Pescadero | $3,930 | +6.3% |
| 94061 | Redwood City | $3,810 | +3.1% |
| 94062 | Redwood City | $3,870 | +4.7% |
| 94063 | Redwood City | $3,850 | +4.1% |
| 94064 | Redwood City | $3,930 | +6.3% |
| 94065 | Redwood City | $4,370 | +18.2% |
| 94066 | San Bruno | $3,580 | -3.2% |
| 94070 | San Carlos | $3,840 | +3.9% |
| 94074 | San Gregorio | $3,600 | -2.6% |
| 94080 | South San Francisco | $3,640 | -1.5% |
| 94083 | South San Francisco | $3,930 | +6.3% |
| 94128 | San Francisco | $3,930 | +6.3% |
| 94303 | Palo Alto | $3,390 | -8.3% |
| 94401 | San Mateo | $3,580 | -3.2% |
| 94402 | San Mateo | $4,070 | +10.1% |
| 94403 | San Mateo | $4,490 | +21.4% |
| 94404 | San Mateo | $5,050 | +36.6% |
| 94497 | San Mateo | $3,697County rate | — |
Counties sharing the San Francisco metro rate
HUD sets one rate for the whole metro, so every county here carries the same $3,697 two-bedroom figure as San Mateo.
Nearby counties
Two-bedroom FMR, with how each compares to San Mateo.
San Francisco County
18 mi · 830,235 people
$3,697
same rate
Alameda County
19 mi · 1,649,473 people
$2,805
-24%
Santa Clara County
27 mi · 1,902,047 people
$3,272
-11%
Contra Costa County
32 mi · 1,165,012 people
$2,805
-24%
Marin County
37 mi · 257,969 people
$3,697
same rate
Santa Cruz County
40 mi · 264,926 people
$4,254
+15%
Solano County
53 mi · 451,918 people
$2,342
-37%
Napa County
64 mi · 134,869 people
$3,375
-9%
Questions people ask
$3,697 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $2,574 for a studio, $3,003 for one bedroom, $4,832 for three and $5,439 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
Payment standard and tenant share for a specific rent
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords
Rent affordability calculator
The income a household needs for a given rent
What does a rental in San Mateo actually go for?
HUD's number is one input. Search any address in San Mateo for a rent estimate built from nearby comps. Free to start, no card.
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