Location: Los Angeles-Long Beach-Glendale, CA | Metro: Los Angeles-Long Beach-Glendale, CA HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $3,190 |
| 1 Bedroom | $3,570 |
| 2 Bedrooms | $4,400 |
| 3 Bedrooms | $5,580 |
| 4 Bedrooms | $6,250 |
| 5 Bedrooms | $7,250 |
| 6 Bedrooms | $8,120 |
| 7 Bedrooms | $8,770 |
| 8 Bedrooms | $9,209 |
U.S. Census Bureau data (2024)
The ZIP code 90747 presents a unique challenge for renters and landlords alike. The median income for households in this area is currently not available, which makes it difficult to assess the average financial capacity of potential tenants. However, the Fair Market Rent (FMR) for this ZIP code in fiscal year 2024 is set at $3320. This figure represents the voucher payment standard that landlords can expect if they choose to accept Section 8 vouchers.
Given the lack of specific data on market rates and the percentage of renters in the area, we can infer that there might be a significant affordability gap for those relying solely on their income to cover housing costs. This gap could lead to increased competition among landlords who are looking to attract tenants. Landlords who accept Section 8 vouchers can benefit from a steady stream of rental income, as long as the voucher amount covers the majority of the tenant's rent. In ZIP 90747, this means ensuring that your rental properties do not exceed the $3320 FMR to remain competitive and attractive to voucher holders.
The takeaway for landlords considering whether to accept vouchers or opt for cash-paying tenants is that while vouchers provide guaranteed payments, the income cap might limit the pool of eligible tenants. Landlords should evaluate the local rental market and consider the balance between accepting vouchers and attracting higher-income, cash-paying tenants. Given the high FMR of $3320, landlords in 90747 have a reasonable threshold to work with when pricing their units for voucher acceptance. However, they must also be prepared to compete with other landlords who offer similar pricing and amenities to attract the limited number of cash-paying renters.
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.