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Section 8 rent in Santa Cruz-Watsonville, CA

FY2025 HUD Small Area Fair Market Rents for the Santa Cruz-Watsonville, CA MSA, covering 23 ZIP codes.

$4,333Avg 2BR FMR / mo
$4,766Avg 2BR at 110% Standard
23ZIP Codes

Fair market rent by bedroom count

Base SAFMR across all ZIP codes in this market. Housing authorities may set payment standards between 90% and 110% of these rates.

BedroomsLowest ZIPAverageHighest ZIPAvg 110% Standard
Studio$2,570$3,124$3,600$3,436
1 Bedroom$2,780$3,320$3,800$3,652
2 Bedrooms$3,650$4,333$4,980$4,766
3 Bedrooms$4,500$5,389$6,200$5,928
4 Bedrooms$4,960$5,777$6,610$6,354

Small multifamily Section 8 income

Estimated gross monthly and annual rent for 2-to-4 unit properties, assuming every unit is rented to Section 8 at this market's average fair market rent. Small multifamily is a favorite for long-term buy-and-hold investors stacking stable voucher income across multiple doors.

Property TypeUnit MixGross Monthly RentGross Annual Rent
Duplex2 × 2BR$8,666$103,992
Triplex3 × 2BR$12,999$155,988
Fourplex4 × 2BR$17,332$207,984
Fourplex4 × 3BR$21,556$258,672

Gross scheduled rent before vacancy, maintenance and management. Run any California multifamily listing through RealG to model it against real operating costs, or try the rental property calculator.

Highest-paying ZIP codes

Top 15 of 23 ZIP codes in this market, ranked by 2-bedroom SAFMR.

ZIP Code1BR2BR3BR4BR
95060 $3,800 $4,980 $6,200 $6,610
95065 $3,670 $4,810 $5,990 $6,380
95062 $3,620 $4,750 $5,910 $6,300
95017 $3,610 $4,730 $5,890 $6,270
95003 $3,600 $4,720 $5,870 $6,270
95066 $3,600 $4,720 $5,870 $6,270
95018 $3,490 $4,570 $5,690 $6,070
95041 $3,490 $4,570 $5,690 $6,070
95007 $3,370 $4,420 $5,500 $5,860
95073 $3,360 $4,410 $5,490 $5,850
95005 $3,360 $4,400 $5,480 $5,840
95006 $3,360 $4,400 $5,480 $5,840
95010 $3,270 $4,290 $5,340 $5,690
95001 $3,220 $4,220 $5,250 $5,600
95061 $3,220 $4,220 $5,250 $5,600

Quick cash flow check

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Estimate monthly cash flow renting to Section 8 at this market's average fair market rent.

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30-year fixed. Taxes and insurance estimated at 1.5% and 0.5% of price per year. Before vacancy, maintenance and management. For a full itemized analysis, run this market in RealG.

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Frequently asked questions

How much does Section 8 pay for a 2-bedroom in Santa Cruz-Watsonville, CA?
For FY2025, the average 2-bedroom Small Area Fair Market Rent in the Santa Cruz-Watsonville, CA MSA is $4,333 per month, ranging from $3,650 to $4,980 depending on ZIP code. Local housing authorities may set payment standards between 90% and 110% of these rates, so the average 2-bedroom payment standard can reach $4,766.
What is a Small Area Fair Market Rent (SAFMR)?
SAFMRs are fair market rents that HUD publishes at the ZIP code level instead of one rate for a whole metro area. They reflect what modest rental housing actually costs in each ZIP, which means higher payment standards in more expensive neighborhoods. Housing choice voucher payments in this market are based on these rates.
Why do rents vary so much between ZIP codes here?
In Santa Cruz-Watsonville, CA, 2-bedroom SAFMRs run from $3,650 to $4,980 per month. HUD sets each ZIP's rate from local rent data, so neighborhoods with stronger rental markets get higher voucher payment standards. For investors, the spread matters: the same house price can produce very different Section 8 rents a few ZIP codes apart.
How do I find Section 8 investment properties in California?
RealG searches live listings across California, runs Section 8 numbers on every property using these HUD rates, and grades each deal A through D against your buying criteria. You can start free with no credit card and see graded deals in this market in minutes.

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