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 ZIP code 90074 in Unknown, CA presents several challenges for potential Section 8 landlords. Firstly, the tenant turnover rate could be problematic due to the discrepancy between the market rent and the Fair Market Rent (FMR) of $2540 for FY 2024. Without specific data on market rent, it's difficult to gauge how competitive this FMR will be, which might lead to frequent tenant changes. Secondly, the vacancy exposure is another concern. With no data available on the days on market (DOM), it's unclear how quickly properties can be filled, leading to potential financial strain during vacancies. Additionally, the deferred maintenance exposure is significant. The lack of data on typical home values and median incomes suggests that there may be a considerable number of homes in need of repair, which could increase maintenance costs and reduce the property's overall appeal. This is particularly relevant when considering the high renter density in the area, indicated by the unspecified percentage of renters. High renter density often translates into higher demand for housing vouchers, which can be both an opportunity and a challenge. While it ensures a steady stream of potential tenants, it also means increased competition among landlords for these vouchers. Given these factors, the verdict for ZIP 90074 is moderate risk for a first-time Section 8 landlord.
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.