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 market in ZIP code 90831 presents a dynamic environment that is currently centered around the Fair Market Rent (FMR) of $2540, which is set for fiscal year 2024. This figure is a critical benchmark for landlords and small-portfolio investors as it reflects the rental affordability standards established by HUD for the area.
A notable absence in the data is the market rent figure, which suggests either limited availability of recent rental listings or a relatively stable market where the FMR closely mirrors actual rents. The lack of a percentage for price-cut share and days on market (DOM) indicates a possibly efficient market where properties are priced accurately from the start, leading to quick transactions without significant discounts.
The median home value also being listed as N/A points to either an incomplete dataset or a market that lacks sufficient sales data to determine a reliable median. In a context where rental data is available but sales data is not, it's reasonable to infer that the market in ZIP 90831 is more focused on rentals rather than home purchases, which could indicate a strong preference for renting over owning among residents.
The N/A% renter share, while missing specific numerical data, can be interpreted as a signal of potential long-term housing pressure. High renter shares often correlate with areas experiencing sustained housing demand, whether due to job opportunities, lifestyle preferences, or limited homeownership options. This implies that landlords in ZIP 90831 can expect steady demand for rental properties, making it a viable investment for those looking to capitalize on a robust rental market.
In summary, ZIP 90831 appears to be a market where demand is likely keeping pace with supply, particularly in the rental sector. The reliance on rental housing, as suggested by the data gaps in home ownership metrics, points to a community that is experiencing consistent pressure to find affordable living spaces, making it a prime location for rental investments.
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.