San Francisco County a county in California

Market Overview

San Francisco County is a county in California. The population of San Francisco County, according to the 2010 Census, is 805,235. The total number of households in the county is 345,811. The average household size for San Francisco County is 1.95. The total number of renter households in the county is 222,165 which means that 64.2% of households are renter households.

San Francisco County’s Federally assisted affordable rental housing stock includes properties financed through the following programs:

ProgramPropertiesUnits
Section 8 87 7,965
LIHTC 106 9,860
Section 202 30 2,284
Section 811 6 105
Public Housing 40 6,053
Total 189 17,870
Note: The total does not necessarily equal the sum of each program as some properties may participate in multiple funding programs.

The average number of units per property for affordable rentals in San Francisco County is 94.60. The largest Federally assisted affordable rental community in the county is North Beach Place at 341 units and the smallest is The ARC Apartments at 9 unit(s). 42 apartment properties provide housing for seniors containing 3,748 units. Of the 17,870 units, 16,407 units include some form of rental assistance (like Section 8) to make rent more affordable for very low income families.

Cities with Federally Assisted Projects in San Francisco County

CityPropertiesUnits
San Francisco 189 17,782
San Francisco 1 119

Federally Assisted Units By Property

Name Total Units
† This Property is Federally Assisted though Unit Counts are not available from HUD.

Rental Assistance for Tenants in San Francisco County

Rental assistance is a type of housing subsidy that pays for a portion of a renter’s monthly housing costs, including rent and tenant paid utilities. This housing assistance can come in the form of Section 8 Housing Choice Vouchers, project-based Section 8 contracts, public housing, USDA Rental Assistance (in Section 515 properties) as well as HUD Section 202 and 811 properties.

In San Francisco County, there are 145 affordable housing properties providing rental assistance to 16,407 very low income households.

To qualify for most rental assistance programs a renter must earn no more than 50% of the Area Median Income (AMI). In some cases, rental assistance is reserved for renters earning 30% or less of the AMI. In San Francisco County, to qualify for Section 8 assistance, a renter household containing four persons must earn $61,500 or less. For some targeted rental assistance programs, a renter household of four can’t earn more than $36,900.

It’s important to remember that in many rental assistance programs there are minimum rent regulations requiring assistance recipients to make a minimum payment of between $25 and $50 per month no matter how low their income.

HUD Assistance Income Limits

Persons
1234
$43,050$49,200$55,350$61,500
Persons
1234
$25,850$29,550$33,250$36,900

Income Limits

All affordable housing programs provided by or through the government have maximum income limits to qualify for assistance. These income limits are typically derived from the Area Median Income (AMI), the theoretical family income of the average household in a given geography.

The AMI is updated each year for each geographical area taking into consideration numerous economic indicators. The geographical areas used for establishing the AMI are either Metropolitan Statistical Areas (MSA’s) or counties.

San Francisco County is in the San Francisco, CA HUD Metro FMR Area MSA. The 2016 Area Median Income for a family of four in San Francisco County is $107,700.

The income limits used for Section 8, public housing, Low Income Housing Tax Credits. the HOME program and other Federal programs all are derived from the HUD defined AMI.

Low Income Housing Tax Credit Income Limits

Persons
1234
$51,660$59,040$66,420$73,800
Persons
1234
$43,050$49,200$55,350$61,500

Fair Market Rents (FMR)

HUD establishes a Fair Market Rent each year for each Metropolitan Statistical Area in the country. This rent standard is used to establish Payment Standards for the Section 8 Housing Choice Voucher program, maximum rents in HOME financed rental projects and initial rents for Section 8 project based assistance. HUD establishes FMR’s for 530 MSA’s and 2,045 counties nationwide each fiscal year.

The FMR is largely a statistical derivative of the US Census Bureau's American Community Survey (ACS) 5 year estimates for 2 bedroom median rent.

Calculating the maximum allowable rents under various subsidy programs is complex and each program has slightly different rules. In the Section 8 Housing Choice Voucher and Project Based Assistance programs, maximum rents a landlord may charge include any tenant paid utility costs.

This utility allowance includes all necessary utilities like water/sewer, trash, heat, electricity or gas. Cable television, telephone, Internet and other non-essential utilities are excluded from this allowance.

In Project Based Section 8 properties, the owner sets the utility allowance after conducting a utility cost analysis. The amount of the allowance is reviewed and approved by HUD. The utility allowance is different for each size dwelling unit.

In the Housing Choice Voucher program, utility allowances are set by the Public Housing Authority (PHA) that administers the program. The PHA sets the allowance based on reasonable utility costs for similar types and sizes of housing units to the unit the voucher holder is renting.

In Section 8 Project Based apartment communities, the maximum rent a tenant may pay is set by the landlord and approved by HUD each year. Initially, the rent charged by the apartment property is limited to the FMR for the area. In some instances, HUD may approve an initial rent of up to 120% of the FMR for the area. Owners may request and HUD may approve annual contract rent increases based on an Annual Adjustment Factor (AAF) determined by local housing and utility costs changes Though contract rents are seldom exactly the same amount as the Fair Market Rent for the area and each Project Based apartment property will have its own contract rent, the FMR can be used as an approximate guide of what maximum contract rents might be.

The amount a Section 8 Project Based tenant will pay is 30% of their adjusted income.

In the Housing Choice Voucher program, the maximum amount the housing authority will pay a landlord is established each year for similar types and sizes of units and is called a Payment Standard. Each housing authority sets its own Payment Standard and usually sets the amount at between 90% and 110% of the Fair Market Rent for the area.

The amount a voucher holder pays for rent, often referred to as a Tenant Contribution, is equal to 30% of their income. If the rental the tenant selects has rent higher than the housing authority Payment Standard, a tenant may pay up to 40% of their income to make up the difference. At least initially, the tenant would not be allowed to pay more than 40% of their income and would have to find a different rental that has a qualifying rent amount.

In San Francisco County, under the Section 8 Housing Choice Voucher program, the might pay a landlord with a two bedroom apartment to rent about $3,018 minus the utility allowance. Likewise, a renter in San Francisco County with a Section 8 voucher looking to rent a 3 bedroom apartment must find a rental that rents for about $3,927 per month (including the utility allowance). Any amount more than that, the voucher holder could pay the difference as long as they aren’t paying more than 40% of their income. (Note: These rent amounts are approximate since the housing authority’s Payment Standard is likely to be slightly different than HUD’s published FMR. These FMR’s should only be used as a guide. Check with the for their actual HCV Payment Standard.)

2017 Fair Market Rents

Bedrooms
01234
$1,915 $2,411 $3,018 $3,927 $4,829

Fair Market Rent Percentage Change Since 1988

The affordable housing industry has long used the FMR as barometer for local rents. Though the geographic areas FMR’s are based on are broad and there are often wide variations in neighborhood rents throughout an MSA, in general, the FMR is one of the best quick tools one can use to judge housing costs in a place.

We took a look at historic FMR’s in San Francisco County and found that they have risen an average of 3.73% year over year. The first year in our sample is 1985 when the two bedroom FMR was $577. That same 2 bedroom apartment rent had increased to $1795 by 2013. In 2002 the two bedroom FMR in San Francisco County saw it’s largest single year increase going up by 19.74%.

It’s also interesting to look at the FMR compared to the Consumer Price Index’s housing index to understand how San Francisco County rents have fluctuated in comparison to the rest of the Nation. The consumer price index grew an average of -0.89% year over year. The two bedroom FMR in San Francisco County has grown faster than the CPI indicating faster than average rent growth in the market.

The largest single year of 2 bedroom FMR growth was in 2002 at 19.74% while the smallest year of growth was 2005 with a 13.3% decrease.

805,235

Population

1.95

Average Household Size

452,986

Total Renters

222,165

Renter Households

345,811

Total Households

High Renter
(100th percentile)

Renters or Owners

64.2%

% of Renter Households

$1,487

Median Rent

$89,497

Median Family Income

43.8%

Renters Overburdened

5.77%

Households in 60-80% AMI Range

17,870

Federally Assisted Units

189

Federally Assisted Projects

106/9,860

Tax Credit Projects/Units

87/7,965

Section 8 Projects/Units

30/2,284

Section 202 Projects/Units

6/105

Section 811 Projects/Units

42/3,748

Senior Projects/Units

16,407

Units with Project Based Rent Subsidy

94.6

Average Units Per Property

$4,124,028,000/year

Gross Rent Paid By All Renters

42%

Renters with No Vehicle

6.9%

Renters Below Poverty Level

26.4%

Renters Who Taxi, Bike, or Walk to Work

15.5%

Renters Who Use Public Transit to Work

14.5%

Renters With Children

6,874

Vacant Units For Rent

3%

Vacancy Rate

17.3%

Units With Utilities Included In Rent

California

State