Location: Los Angeles-Long Beach-Glendale, CA | Metro: Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,680 |
| 1 Bedroom | $1,870 |
| 2 Bedrooms | $2,310 |
| 3 Bedrooms | $2,930 |
| 4 Bedrooms | $3,280 |
| 5 Bedrooms | $3,805 |
| 6 Bedrooms | $4,262 |
| 7 Bedrooms | $4,603 |
| 8 Bedrooms | $4,833 |
U.S. Census Bureau data (2024)
The economics of Section 8 housing in ZIP 90304, Inglewood, CA, are straightforward. For a two-bedroom apartment, the SAFMR (Small Area Fair Market Rent) for FY 2024 is set at $2020. This figure represents the maximum amount that the government will reimburse landlords for a unit of this size under the Section 8 program. It's important to note that the SAFMR is specific to this ZIP code, reflecting local rental conditions.
The local market rent, as indicated by ZORI (Zillow Observed Rental Index), is $2848 for a two-bedroom unit. This is the average rent price landlords might expect to receive in the open market without relying on Section 8 vouchers.
When a tenant uses a Section 8 voucher, they typically pay 30% of their adjusted income towards rent. This amount is known as the tenant portion. Additionally, there are utility allowances which vary but are usually around $200 per month. Therefore, the total reimbursement a landlord can expect from the government and the tenant is calculated by adding the SAFMR and the utility allowance, then subtracting the tenant portion.
To illustrate, if the SAFMR is $2020 and the utility allowance is $200, the combined amount is $2220. If the tenant's portion is $800 (based on 30% of an assumed income), the landlord would receive $1420 from the government and $800 from the tenant, totaling $2220.
In ZIP 90304, this means landlords participating in the Section 8 program for a two-bedroom apartment will face a monthly shortfall of $628 compared to the local market rent. Conversely, if the market rent drops below the SAFMR plus utility allowance, landlords could see a surplus. However, based on the current figures, the typical reimbursement gap for a two-bedroom apartment is a loss of $628 per month.
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.