Location: Los Angeles-Long Beach-Glendale, CA | Metro: Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,150 |
| 1 Bedroom | $2,400 |
| 2 Bedrooms | $2,960 |
| 3 Bedrooms | $3,760 |
| 4 Bedrooms | $4,200 |
| 5 Bedrooms | $4,872 |
| 6 Bedrooms | $5,457 |
| 7 Bedrooms | $5,894 |
| 8 Bedrooms | $6,189 |
The analysis of ZIP code 90053 within the Los Angeles-Long Beach-Glendale metropolitan area reveals critical insights for landlords and small-portfolio investors. The Federal Market Rent (FMR) for the area in fiscal year 2024 is set at $2540. However, without specific market rent data, it's challenging to definitively state whether the rent math works; typically, market rents should be higher than the FMR to cover costs and generate profit.
Regarding property acquisition affordability, the lack of detailed metrics such as median home value, days on market (DOM), and the percentage of homes that have been subject to price cuts makes a precise assessment difficult. These figures would help determine if properties are overpriced or if there are opportunities for acquiring assets at a reasonable cost.
Tenant demand in ZIP 90053 is another crucial factor. With no specific population or renter share percentages available, it's hard to gauge the level of demand for rental properties. A high percentage of renters relative to homeowners usually indicates strong demand, which can support higher rental rates and quicker tenancy turnovers.
In summary, while the FMR provides a benchmark for setting rental prices, the absence of key market data—specifically median home values, days on market, price-cut percentages, and population statistics—limits a comprehensive analysis. To make informed decisions, landlords and investors must seek out current local market conditions, including precise market rent figures and detailed property acquisition costs. Without these specifics, the viability of investing in ZIP 90053 remains uncertain.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.