Section 8 Fair Market Rent (FMR) for ZIP 90062 - 2027

FY 2027 Fair Market Rent Rates

Demographics & Housing Statistics

U.S. Census Bureau data (2024)

Housing Authorities Serving ZIP 90062

• Housing Authority of the City of Los Angeles (Los Angeles, CA) - 53,428 Section 8 vouchers
• Los Angeles County Development Authority (Alhambra, CA) - 27,058 Section 8 vouchers
• City of Long Beach Housing Authority (Long Beach, CA) - 7,862 Section 8 vouchers
• Housing Authority of the City of Glendale (Glendale, CA) - 1,667 Section 8 vouchers
• Housing Authority of the City of Santa Monica (Santa Monica, CA) - 1,536 Section 8 vouchers
• City of Pasadena Housing Department (Pasadena, CA) - 1,525 Section 8 vouchers
• Housing Authority of the City of Inglewood (Inglewood, CA) - 1,201 Section 8 vouchers
• Housing Authority of the City of Pomona (Pomona, CA) - 1,119 Section 8 vouchers
• Housing Authority of the City of Burbank (Burbank, CA) - 1,047 Section 8 vouchers
• Housing Authority of the City of Baldwin Park (Baldwin Park, CA) - 913 Section 8 vouchers

To determine if a landlord should invest in ZIP 90062 (Los Angeles, CA) for Section 8 properties, follow this decision tree:

Step 1: Does the Fair Market Rent (FMR) of $2,170 cover the debt service on a property valued at $694,598?

• No. The FMR of $2,170 does not sufficiently cover the debt service for a property priced at $694,598. Debt service typically includes mortgage payments, property taxes, insurance, and maintenance costs, which would likely exceed the FMR amount. This makes the investment unprofitable under Section 8 guidelines.

Step 2: Is the market rent ($2,602 ZORI) above, at, or below the FMR?

• Above. The market rent of $2,602 is higher than the FMR of $2,170. This indicates that non-Section 8 tenants could potentially pay more than the FMR, but it also means that Section 8 tenants might struggle to find units that accept their vouchers.

Step 3: Are there enough renters (54.7%) and is the Days on Market (DOM) sufficient?

• It Depends. With 54.7% of residents being renters, there is a significant portion of the population that might be interested in rental properties. However, the lack of data on Days on Market (DOM) makes it difficult to assess how quickly properties can be leased. A high DOM could indicate challenges in finding tenants, even among the sizable rental population.

In conclusion, the decision to purchase in ZIP 90062 for Section 8 purposes hinges on whether the landlord can find properties where the FMR covers the necessary debt service. Given the current data, the FMR of $2,170 is insufficient for a property costing $694,598. Additionally, while the rental population is substantial, the absence of DOM data leaves uncertainty about leasing speed. Landlords should carefully consider these factors before making an investment decision.

Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).

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.