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 |
ZIP code 90083 is situated within the Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 90083 in fiscal year 2024 is set at $2540. This figure provides insight into the rental affordability for low-income families seeking housing assistance through the Section 8 program.
Comparatively, the FMR for the broader Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area averages around $2000-$2500 for a one-bedroom unit, reaching up to $3000-$3500 for larger units. Therefore, ZIP 90083's FMR of $2540 aligns closely with the upper range of typical FMRs within the metro area. Given that market rent data is not available for ZIP 90083, it is reasonable to assume that the actual rents might be higher than the FMR, which would place it in a premium sub-market status relative to other areas within the same metro region.
The lack of specific market rent and home value data makes direct comparisons challenging. However, since the FMR is higher than many other ZIP codes within the metro, it suggests that 90083 could be a premium sub-market where rental properties are in higher demand and potentially command higher rents. This also implies that landlords and small-portfolio investors in ZIP 90083 might face competition from both private renters and those utilizing Section 8 vouchers.
The absence of data on the percentage of renters in ZIP 90083 means we cannot definitively state its renter share. If it were significantly higher than the metro average without corresponding lower home values, it could indicate a potential sweet spot for Section 8 participation. However, without this information, we must rely on the FMR and infer that due to the higher FMR, it likely attracts a diverse mix of tenants including those who might benefit from the Section 8 program.
In conclusion, based on the provided FMR data, ZIP 90083 appears to be a premium sub-market within the Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area. Its attractiveness for Section 8 participants depends largely on the actual market rents, which are currently unknown. Landlords and investors should consider the competitive landscape and the potential benefits of participating in the Section 8 program when setting rents and managing properties in this area.
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.