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 90087 falls within the Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 90087 in fiscal year 2024 is set at $2540. This figure is crucial for landlords and small-portfolio investors operating under the Section 8 program, as it dictates the maximum allowable rent for units to qualify.
To contextualize this data point, consider that the typical FMR for ZIP codes within the Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area generally ranges higher. For instance, the average FMR across the metro area is typically above $2540, indicating that ZIP 90087 is on the lower end of the spectrum. However, without specific market rent data, it's challenging to definitively categorize 90087 as a value pocket, mid-tier neighborhood, or premium sub-market. The lack of market rent figures suggests that 90087 might be less developed or have fewer rental properties compared to other areas in the metro region.
The absence of home value data also complicates direct comparisons. Typically, ZIP codes with lower FMRs might correlate with lower home values, but this is not always the case. The missing percentage for renter share further limits our ability to draw conclusions about the rental market dynamics in 90087. A high renter share combined with below-average home values could indicate a strong Section 8 presence, but with the given data, we can only speculate.
In summary, ZIP 90087 appears to be a value pocket within the broader Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area, based on its FMR of $2540 being below the metro average. However, the lack of comprehensive data on market rents, home values, and renter share means that while it shows potential, definitive classification requires additional research.
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.