ZIP 94038 Fair Market Rent FY2027

Small Area Fair Market Rents for ZIP code 94038 in the San Francisco, CA FMR area.

$2,310Efficiency
$2,7001 bedroom
$3,3202 bedrooms
$4,3403 bedrooms
$4,8804 bedrooms

Payment standard range

Unit sizeSAFMR90%110%Metro FMR
Efficiency$2,310$2,079$2,541$2,574
1 bedroom$2,700$2,430$2,970$3,003
2 bedrooms$3,320$2,988$3,652$3,697
3 bedrooms$4,340$3,906$4,774$4,832
4 bedrooms$4,880$4,392$5,368$5,439

Housing authorities may set voucher payment standards from 90% to 110% of the FMR that applies to them.

Income in ZIP 94038

$146,688average adjusted gross income per tax return (2022)
$103,094average salaries and wages per return
1,460tax returns filed
27%of average income for a 2-bedroom SAFMR
Adjusted gross incomeShare of returns
$1 to $25,00018.5%
$25,000 to $50,00015.1%
$50,000 to $75,00013.0%
$75,000 to $100,00010.3%
$100,000 to $200,00021.2%
$200,000 or more21.9%

IRS Statistics of Income, individual income tax returns by ZIP code, tax year 2022. 5.5% of returns claimed the Earned Income Tax Credit.

Questions and answers

What is the Small Area Fair Market Rent for ZIP code 94038?

HUD's FY2027 Small Area FMRs for ZIP 94038 (San Francisco, CA) are $2,310 efficiency, $2,700 one bedroom, $3,320 two bedrooms, $4,340 three and $4,880 four bedrooms.

What payment standard can a housing authority set in ZIP 94038?

Public housing agencies may set voucher payment standards between 90% and 110% of the Small Area FMR – for a two-bedroom unit $2,988 to $3,652.

How affordable is rent in ZIP 94038?

Tax returns filed from ZIP 94038 reported an average adjusted gross income of $146,688 (2022). A two-bedroom unit at the Small Area FMR costs $39,840 a year, or 27% of that income.