Location: Los Angeles-Long Beach-Glendale, CA | Metro: Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,730 |
| 1 Bedroom | $1,930 |
| 2 Bedrooms | $2,380 |
| 3 Bedrooms | $3,020 |
| 4 Bedrooms | $3,380 |
| 5 Bedrooms | $3,921 |
| 6 Bedrooms | $4,392 |
| 7 Bedrooms | $4,743 |
| 8 Bedrooms | $4,980 |
U.S. Census Bureau data (2024)
The market in ZIP 90089 is currently characterized by a strong presence of the Fair Market Rent (FMR) at $2000 for the fiscal year 2024. This figure serves as a benchmark for rental prices in the area, indicating that the local housing market is likely experiencing upward pressure on rents. The fact that the market rent is listed as N/A suggests a lack of comprehensive recent data, which could be due to a variety of factors including limited reporting or a highly dynamic market.
With the FMR set at $2000, it's reasonable to infer that demand for affordable housing options, such as those supported under Section 8 programs, is robust. However, the absence of data on the percentage of price-cut share and days on market (DOM) makes it difficult to precisely quantify the balance between supply and demand. Typically, if the market were oversupplied, we would expect to see higher price-cut shares and longer DOM periods, indicating landlords might be willing to negotiate more aggressively to secure tenants.
The N/A% renter share also provides insight into the dynamics of ZIP 90089. In areas with high renter shares, there tends to be greater long-term housing pressure, as renters often face challenges in finding stable, affordable housing. While the exact percentage isn't provided, the implication is that the rental market is significant, and therefore, landlords and small-portfolio investors should remain vigilant about maintaining competitive rental rates and conditions to attract and retain tenants.
In summary, ZIP 90089 appears to be a market in motion, driven by the established FMR and the importance of the rental sector. Landlords must stay informed about local trends and adjust their strategies accordingly to navigate this evolving landscape effectively.
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.