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 |
2540 is the Fair Market Rent (FMR) for ZIP code 90251 as of fiscal year 2024, indicating the maximum amount Section 8 participants can be expected to pay for housing in this area. While the market rent for 90251 is currently unavailable, the FMR serves as a reliable benchmark for rental pricing strategies. The median home value data is also not available, which means investors should rely on other metrics to gauge the local real estate market's health. Similarly, the percentage of renters in the area and the median income are unknown, making it difficult to assess the overall economic profile of the residents. However, the lack of specific data does not diminish the importance of understanding the FMR, which stands at $2540. This figure is critical for landlords and small-portfolio investors looking to participate in the Section 8 program, as it directly impacts their ability to set rents that align with government standards while ensuring profitability. The days on market (DOM) and price-cut share percentages are also not available, suggesting that the market dynamics in 90251 might be stable or that there isn't sufficient data to make a determination. For landlords and investors, the key takeaway is to ensure that their rental properties meet the quality and size standards set by HUD for the Section 8 program, and that they price accordingly to the $2540 FMR to avoid disputes or loss of eligibility. In conclusion, despite the limited availability of specific market data, the $2540 FMR provides a clear guideline for rental pricing in ZIP code 90251.
Section 8 verdict: Attractiveness depends on meeting HUD standards and pricing to the $2540 FMR.
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.