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 |
ZIP code 90307 falls within the Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area. The Fair Market Rent (FMR) for ZIP 90307 is set at $2540 for fiscal year 2024. This figure provides insight into the rental market dynamics, especially for landlords and small-portfolio investors interested in the Section 8 housing voucher program.
To contextualize ZIP 90307 within its broader metro area, it's essential to compare its FMR to that of other ZIP codes within the Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area. While specific market rent and home value data are not available for ZIP 90307, we can infer its position based on the FMR alone. Typically, an FMR of $2540 suggests that this ZIP code is a mid-tier neighborhood, neither the most expensive nor the least costly within the metro area.
The lack of data on market rent and home values makes it challenging to provide a complete picture of the real estate landscape in ZIP 90307. However, the absence of these figures could indicate that the area is less developed or has fewer properties listed compared to other parts of the metro, which might make it a value pocket for investors looking for under-the-radar opportunities.
The unknown percentage of renter share also adds complexity to the analysis. In general, a high proportion of renters with lower home values can be indicative of a Section 8 sweet spot, where there's a greater likelihood of voucher holders being able to afford living in the area. Given that the renter share is not specified, we cannot definitively conclude if ZIP 90307 fits this profile; however, the relatively moderate FMR suggests that it could attract a mix of market-rate and subsidized tenants.
In summary, ZIP 90307 appears to be a mid-tier neighborhood within the Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area, with an FMR of $2540 for FY 2024. The missing data on market rents, home values, and renter share suggest that further investigation is warranted to fully assess its potential as a value pocket or premium sub-market for real estate investment.
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.