HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Santa Cruz County, California (FY 2027)
HUD's FY 2027 Fair Market Rent for a two-bedroom in Santa Cruz County is $4,254 a month. That's the number the housing authority starts from when it sets Section 8 payment standards here.
Two-bedroom FMR
$4,254
+0.9% from FY 2026
Payment standard
$3,829–$4,679
90% to 110% of the FMR, two-bedroom
Income to afford
$170,160
a year, with rent at 30% of income
Rank in California
1st 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 | $3,230 | $2,907–$3,553 | $129,200 | $62.12/hr | +1.6% |
| 1 bedroom | $3,390 | $3,051–$3,729 | $135,600 | $65.19/hr | +2.8% |
| 2 bedroom | $4,254 | $3,829–$4,679 | $170,160 | $81.81/hr | +0.9% |
| 3 bedroom | $5,531 | $4,978–$6,084 | $221,240 | $106.37/hr | +2.9% |
| 4 bedroom | $5,748 | $5,173–$6,323 | $229,920 | $110.54/hr | +1.6% |
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 | $6,610 | $5,949–$7,271 |
| 6 bedroom Estimate | $7,472 | $6,725–$8,219 |
| 7 bedroom Estimate | $8,335 | $7,502–$9,169 |
| 8 bedroom Estimate | $9,197 | $8,277–$10,117 |
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 Santa Cruz actually rent for?
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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 Santa Cruz somewhere between $3,829 and $4,679. 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.
$4,254 a month is affordable, by HUD's 30% rule, on an income of roughly $170,160 a year. Put another way, $82 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%$3,829 | Voucher pays at 100%$4,254 | Voucher pays at 110%$4,679 |
|---|---|---|---|---|
| $2,500 | $750 | $3,079 | $3,504 | $3,929 |
| $4,000 | $1,200 | $2,629 | $3,054 | $3,479 |
Rate history
The two-bedroom rate went up 1% from FY 2026 ($4,214) to FY 2027 ($4,254). Since FY 2020 it's up 69% in total, about 7.8% 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 | $1,641 | $1,913 | $2,519 | $3,342 | $3,746 | — |
| FY 2021 | $1,993 | $2,292 | $3,021 | $3,947 | $4,419 | +19.9% |
| FY 2022 | $2,085 | $2,385 | $3,138 | $4,000 | $4,458 | +3.9% |
| FY 2023 | $2,212 | $2,502 | $3,293 | $4,077 | $4,568 | +4.9% |
| FY 2024 | $2,849 | $3,085 | $4,054 | $5,000 | $5,504 | +23.1% |
| FY 2025 | $3,056 | $3,221 | $4,223 | $5,256 | $5,605 | +4.2% |
| FY 2026 | $3,179 | $3,298 | $4,214 | $5,377 | $5,659 | -0.2% |
| FY 2027In effect | $3,230 | $3,390 | $4,254 | $5,531 | $5,748 | +0.9% |
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 Santa Cruz, that runs from $3,230 for a studio up to $5,748 for four bedrooms, all five rates in the table above.
Santa Cruz is its own HUD metro area (Santa Cruz-Watsonville, CA), so the rate here is set from rents inside the county rather than a wider region.
Among California's 58 counties, Santa Cruz ranks 1st for two-bedroom FMR. That's about 147% above the state median of $1,725 and about 300% above the national median county at $1,063. About 264,926 people live here, 25th in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $3,300 in 95076 (Watsonville) and $5,260 in 95060 (Santa Cruz), with the 21 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 |
|---|---|---|---|
| 95001 | Aptos | $4,250 | -0.1% |
| 95003 | Aptos | $4,920 | +15.7% |
| 95005 | Ben Lomond | $4,450 | +4.6% |
| 95006 | Boulder Creek | $3,980 | -6.4% |
| 95007 | Brookdale | $3,940 | -7.4% |
| 95010 | Capitola | $4,480 | +5.3% |
| 95017 | Davenport | $4,700 | +10.5% |
| 95018 | Felton | $4,310 | +1.3% |
| 95019 | Freedom | $3,800 | -10.7% |
| 95041 | Mount Hermon | $4,070 | -4.3% |
| 95060 | Santa Cruz | $5,260 | +23.6% |
| 95061 | Santa Cruz | $4,250 | -0.1% |
| 95062 | Santa Cruz | $5,100 | +19.9% |
| 95063 | Santa Cruz | $4,250 | -0.1% |
| 95064 | Santa Cruz | $3,800 | -10.7% |
| 95065 | Santa Cruz | $4,980 | +17.1% |
| 95066 | Scotts Valley | $4,490 | +5.5% |
| 95067 | Scotts Valley | $4,250 | -0.1% |
| 95073 | Soquel | $4,070 | -4.3% |
| 95076 | Watsonville | $3,300 | -22.4% |
| 95077 | Watsonville | $4,250 | -0.1% |
Nearby counties
Two-bedroom FMR, with how each compares to Santa Cruz.
Santa Clara County
21 mi · 1,902,047 people
$3,272
-23%
San Mateo County
40 mi · 742,340 people
$3,697
-13%
Monterey County
41 mi · 437,613 people
$2,416
-43%
San Benito County
42 mi · 67,290 people
$3,004
-29%
Alameda County
52 mi · 1,649,473 people
$2,805
-34%
San Francisco County
57 mi · 830,235 people
$3,697
-13%
Contra Costa County
63 mi · 1,165,012 people
$2,805
-34%
Stanislaus County
71 mi · 553,990 people
$1,803
-58%
Questions people ask
$4,254 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $3,230 for a studio, $3,390 for one bedroom, $5,531 for three and $5,748 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 Santa Cruz actually go for?
HUD's number is one input. Search any address in Santa Cruz for a rent estimate built from nearby comps. Free to start, no card.
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