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 real estate landscape in ZIP 90306 presents a unique set of challenges and opportunities for landlords and small-portfolio investors. The median home value is currently unavailable, which can be indicative of a volatile market where property values are in flux due to external factors such as economic shifts or changes in local policies.
A significant portion of listings in ZIP 90306 have been reduced, although the exact percentage is not available. This reduction in asking prices signals that sellers are adjusting their expectations in response to buyer demand. It suggests that the market may be moving towards equilibrium, where prices reflect the true value perceived by buyers, thereby enhancing the potential for stable rental yields.
The median days on market (DOM) for properties in this area is also not specified. However, an increase in DOM typically indicates a slowdown in sales activity, suggesting that properties are taking longer to sell. This can be a sign of a cooling market, which might benefit investors looking to purchase properties at more favorable prices, but it could also imply a tighter credit environment or reduced buyer confidence.
On the rental side, the Fair Market Rent (FMR) for ZIP 90306 as of fiscal year 2024 is set at $2540. Comparing this to the current market rent, which is also unspecified, highlights the importance of understanding local rental trends. If the market rent is below the FMR, there may be room for gradual increases in rent without significantly impacting occupancy rates. Conversely, if the market rent exceeds the FMR, it could signal a need for landlords to offer competitive amenities or services to maintain tenant interest.
For long-term investors, the data suggests a cautious approach. With the median home value and market rent figures unavailable, making a definitive appreciation thesis challenging. However, the setup implies that investors should focus on properties that offer strong rental income potential rather than relying on capital appreciation. The volatility in property values and the dynamics of the rental market suggest that steady cash flow and maintaining a competitive edge in terms of rental rates and property conditions will be key to success.
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.