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 90078, located within the Los Angeles-Long Beach-Glendale County area, presents unique challenges and opportunities for landlords and small-portfolio investors. Due to the lack of specific data on the number of residents, percentage renting, median income, and median home value, it's important to focus on the available information to make informed decisions.
The most concrete figure we have is the Fair Market Rent (FMR) for ZIP 90078, which is set at $2540 for fiscal year 2024. This FMR represents the maximum amount that landlords can charge tenants who receive housing assistance through the Section 8 program. However, without comparative market rent data, it's difficult to assess how competitive this rate is relative to the local rental market.
Despite these data gaps, it's crucial to understand the implications of the FMR for your investment strategy. If the local market rent is lower than the FMR, landlords could potentially see higher returns on their investments by participating in the Section 8 program. Conversely, if the market rent exceeds the FMR, landlords might find it less attractive to accept Section 8 tenants due to the lower rent ceiling.
Given the incomplete data signature, the ZIP 90078 appears to be in a transitional state. This means that landlords should stay vigilant about changes in the local economy and housing market, as well as updates to the FMR, which could affect the profitability of accepting Section 8 vouchers. Regular monitoring of market conditions and federal guidelines will be key to adapting strategies and maintaining a stable income stream.
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.