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 90408, which includes parts of Malibu, California, is marked by significant uncertainty, as evidenced by the absence of specific median home values and listing reduction percentages. This ambiguity suggests that the market is experiencing volatility, potentially due to external factors such as economic shifts or natural disasters common to the area. The median days on market (DOM) being listed as N/A further underscores this instability, indicating that sales activity is irregular, making it difficult to establish a clear trend in pricing power.
On the rental side, the Fair Market Rent (FMR) for ZIP 90408 is set at $2540 for fiscal year 2024, compared to the current market rate, which is also unspecified. This lack of current market data makes it challenging to assess the immediate rental dynamics, but the high FMR indicates a historically expensive market, which could suggest continued demand for rental properties despite the overall market volatility.
For long-hold investors, the setup in ZIP 90408 implies a cautious approach. The absence of concrete appreciation figures means there is no strong thesis supporting future growth in property values. However, the high rental rates can provide a stable income stream, especially if the area continues to attract high-end tenants looking for luxury coastal living. This stability in rents could offset the risks associated with uncertain home values and sales cycles.
The combination of unclear home values, irregular listing behaviors, and unspecified DOM signals a market where pricing power is currently weak and likely to remain so over the next 12-24 months. Investors should focus on the rental potential rather than speculative home value increases, given the data's indication of an unpredictable environment.
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.