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 potential risks for investing in Section 8 properties in ZIP code 90093 in Unknown, CA, are significant and must be carefully considered. Firstly, the tenant turnover rate can be unpredictable due to the lack of specific market rent data. The Fair Market Rent (FMR) for the fiscal year 2024 stands at $2540, which could lead to higher turnover if tenants find better deals elsewhere. Secondly, there is an exposure to vacancy rates, as the days on market (DOM) figure is currently unavailable. This uncertainty makes it difficult to assess how quickly a property might fill once vacated.
In addition, the risk of deferred maintenance is elevated due to the absence of typical home values and median incomes in the area. Without these figures, it's challenging to gauge the financial health of residents and their ability to maintain properties adequately. However, the high renter share in the area, although the exact percentage is not available, generally indicates a strong demand for rental housing, which often correlates with a higher number of Section 8 vouchers being utilized. This increased demand can potentially offset some of the risks associated with vacancy and maintenance issues.
A one-line verdict for a first-time Section 8 landlord considering investment in ZIP 90093 would be: Moderate risk.
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.