Location: Los Angeles-Long Beach-Glendale, CA | Metro: Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,480 |
| 1 Bedroom | $2,770 |
| 2 Bedrooms | $3,410 |
| 3 Bedrooms | $4,330 |
| 4 Bedrooms | $4,850 |
| 5 Bedrooms | $5,626 |
| 6 Bedrooms | $6,301 |
| 7 Bedrooms | $6,805 |
| 8 Bedrooms | $7,145 |
U.S. Census Bureau data (2024)
2540 is the Fair Market Rent (FMR) for ZIP 90639 in fiscal year 2024. This figure represents the maximum amount that a Section 8 voucher holder can pay toward their monthly rent. Despite the specific FMR, the market rent for the area is listed as N/A, indicating limited recent data. Similarly, the median home value and median income for the area are not available, suggesting that these statistics might be less reliable or not frequently updated.
N/A is also the reported percentage of renters in the ZIP code, which means landlords should be cautious about relying on rental trends from this area alone. However, the total population of 1,511 residents and an average of 2.42 persons per household provide some context for the local demand. The median age of 20.2 years in ZIP 90639 is significantly younger than both the state and national averages, pointing to a potentially transient population, possibly students or young professionals, which could impact long-term rental stability.
The employment rate stands at 36.68%, lower than what might be expected in a typical urban setting, again suggesting a student-heavy demographic. The absence of data on days on market (DOM) and the percentage of price-cut shares indicates a stable housing market with little fluctuation, but it also suggests that there isn't enough recent activity to provide these metrics reliably.
Verdict: While ZIP 90639 offers a defined Fair Market Rent, the lack of detailed market-specific data makes it challenging to assess the broader investment potential. Landlords should proceed with caution, considering the demographic factors and seeking additional local insights before committing to Section 8 investments in this area.
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.