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 Fair Market Rent (FMR) for ZIP code 91017 in fiscal year 2024 is set at $2540. This figure represents the maximum amount that a landlord can charge for rent under the Section 8 Housing Choice Voucher program. It's important to note that this is not necessarily the rent you will receive; it's the payment standard used by the program.
In ZIP 91017, the FMR is the benchmark for determining the rent ceiling. However, the local median rent is currently listed as N/A, which means there isn't enough data to provide a precise comparison. Despite this lack of data, the N/A% of renters who qualify for assistance suggests a significant demand for affordable housing in this area.
The acquisition cost, or the price at which you might purchase a property suitable for Section 8 tenants, is also noted as N/A. This indicates that while there is a need for affordable housing, specific market data is unavailable for exact cost estimates.
Before deciding to participate in the Section 8 program with your first rental in ZIP 91017, it is crucial to verify that your property meets the required quality standards known as Housing Quality Standards (HQS). These standards ensure that the property is safe, decent, and sanitary for tenants. Failure to meet these criteria could result in your property being ineligible for the program, regardless of the potential demand or financial benefits.
In summary, the FMR of $2540 sets the maximum rent limit for Section 8 properties in ZIP 91017. With a high percentage of renters seeking assistance, there is likely strong demand for affordable units. However, without specific local median rent data, it's challenging to make direct comparisons. Ensure your property complies with HQS to avoid disqualification and to maximize your chances of successfully leasing to a Section 8 tenant.
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.