Location: Los Angeles-Long Beach-Glendale, CA | Metro: Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $3,020 |
| 1 Bedroom | $3,370 |
| 2 Bedrooms | $4,160 |
| 3 Bedrooms | $5,280 |
| 4 Bedrooms | $5,910 |
| 5 Bedrooms | $6,856 |
| 6 Bedrooms | $7,679 |
| 7 Bedrooms | $8,293 |
| 8 Bedrooms | $8,708 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $3,370 | $512,020 | 0.66% | D |
| 2BR | $4,160 | $764,889 | 0.54% | F |
| 3BR | $5,280 | $1,606,203 | 0.33% | F |
| 4BR | $5,910 | $2,210,123 | 0.27% | F |
| 5BR | $6,856 | $2,853,194 | 0.24% | F |
U.S. Census Bureau data (2024)
The ZIP code 90293 in Los Angeles, CA, stands out due to its significant rental population and relatively high median income levels. With a total of 12,655 residents, over half (55.0%) live in rented properties, indicating a strong demand for rental housing. The median household income in this area is $134,313, which is notably above the national average, suggesting that residents have the financial capability to support higher rents. Despite the robust income figures, the median home value in ZIP 90293 is $938,111, reflecting the expensive nature of homeownership in this part of Los Angeles.
For landlords and small-portfolio investors, the economic landscape surrounding Section 8 vouchers is crucial. The Fair Market Rent (FMR) for ZIP 90293 in fiscal year 2024 is set at $3740, while the market rent, measured by the Zillow Observed Rental Index (ZORI), stands at $3361. This indicates that landlords participating in the Section 8 program can potentially receive higher rent payments compared to the current market rates. The difference between the FMR and ZORI suggests a favorable environment for those willing to accept vouchers, as they can benefit from the higher subsidy amounts.
Evaluating the overall data signature of ZIP 90293, it reads as stable. The substantial rental population and the high median income point towards a steady demand for rental properties, with tenants likely able to maintain consistent payment patterns. While the median home value is quite high, this does not necessarily impact the rental market's stability. Investors should take note of these factors when considering the potential risks and rewards associated with this ZIP code. The higher FMR relative to market rents provides a compelling reason to engage with Section 8 tenants, ensuring a reliable stream of income that can exceed local market rates.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.