Fair Market Rents by apartment size
| Size | FY2026 FMR | Income needed (30% rule) | Hourly, full time |
|---|---|---|---|
| Studio | $3,179/mo | $127,160/yr | $61.13 |
| 1 bedroom | $3,298/mo | $131,920/yr | $63.42 |
| 2 bedrooms | $4,214/mo | $168,560/yr | $81.04 |
| 3 bedrooms | $5,377/mo | $215,080/yr | $103.40 |
| 4 bedrooms | $5,659/mo | $226,360/yr | $108.83 |
Fair Market Rents are HUD's estimate of the 40th percentile of gross rent (rent plus essential utilities) for standard-quality units in Santa Cruz-Watsonville, CA MSA. About 40% of comparable rentals cost less and 60% cost more, so treat these as a benchmark rather than a listing price. Income needed assumes rent and utilities take no more than 30% of gross income, the federal cost-burden line; the hourly figure assumes 2,080 working hours a year.
Rent vs wages
To afford the 2-bedroom Fair Market Rent here with 30% of a full-time income, you would need to earn about $81.04 an hour. At the state minimum wage of $16.90, that is about 192 hours of work a week. See how every metro compares.
What this means for renters
If you have a Housing Choice Voucher, your local housing authority sets its payment standards based on these FMRs; ask your agency for its exact figures. If you are budgeting a move, compare these numbers with real listings: newer or better-located units usually rent above the FMR.
Areas with similar rents nearby
Frequently asked questions
What is the fair market rent in Santa Cruz-Watsonville, CA?
HUD's FY2026 Fair Market Rents for Santa Cruz-Watsonville, CA MSA are $3,179 for studio, $3,298 for 1 bedroom, $4,214 for 2 bedrooms, $5,377 for 3 bedrooms, $5,659 for 4 bedrooms.
How much do I need to earn to rent a 2-bedroom in Santa Cruz-Watsonville, CA?
At the Fair Market Rent of $4,214, keeping rent within 30% of gross income (the federal cost-burden line) takes about $168,560 a year, or $14,047 a month.
Source: HUD Fair Market Rents, FY2026 schedule (effective October 1, 2025), area code METRO42100M42100. HUD has since published FY2027 FMRs; check HUD for the newest figures. Our data.