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 |
2540 is the Fair Market Rent (FMR) for ZIP 90749 in fiscal year 2024, setting a clear benchmark for rental properties in this area. The absence of specific market rent data indicates a lack of comprehensive reporting, which could mean either limited data availability or a less competitive market environment. With no median home value provided, it's challenging to assess the overall property value trends in the region, though the FMR can serve as a proxy for understanding rental affordability. The unknown percentage of renter share suggests that a significant portion of residents might be renting, making it a viable market for landlords and small-portfolio investors. However, without precise figures, cautious interpretation is advised. Median income data being unavailable complicates the assessment of tenants' ability to pay the established FMR, highlighting the need for thorough background checks and verification processes. The unspecified days on market (DOM) and the unknown percentage of price-cut share indicate variability in how quickly properties are rented out and at what conditions, suggesting a dynamic rental market that requires active management and possibly strategic pricing adjustments.
The FMR of $2540 serves as the upper limit for Section 8 payments in this area, ensuring that landlords receive a fair rent while still maintaining affordability for tenants. Given the lack of detailed market data, investors should focus on properties that offer good value for the FMR, considering factors such as location, condition, and amenities. This ZIP code presents an opportunity for those willing to navigate the uncertainties of incomplete data and adapt their strategies accordingly.
Based on the available data, the Section 8 program remains a viable option for landlords in ZIP 90749, providing a stable source of income with the FMR set at $2540.
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.