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 |
ZIP code 91021 serves as the PO Box ZIP for Montrose, California, a small community nestled in the foothills of the San Gabriel Mountains in Los Angeles County. The available demographic data for this area is limited, but it is known that Montrose has a significant number of renters. The median income and median home value for the area were not found in the current data.
The Fair Market Rent (FMR) for a two-bedroom apartment in ZIP code 91021 for fiscal year 2024 is $2,540. This figure represents the maximum amount that a landlord can charge for a rental unit under the Section 8 Housing Choice Voucher program. Comparing this to the general market rent, which was not available, the FMR provides a benchmark for rental pricing in the area.
Given the FMR and the nature of Montrose as a small community, the area may suit both hands-off voucher operators and hands-on value-add buyers. For hands-off operators, the consistency of Section 8 payments can provide stable cash flow without the need for active property management. On the other hand, for those interested in value-add opportunities, the high FMR suggests potential for higher rental yields if market conditions support it.
To make an informed decision, further research into the local real estate market, including vacancy rates, tenant demand, and competition, would be advisable. Additionally, understanding the specific requirements and regulations related to Section 8 participation in Montrose will help tailor investment strategies effectively.
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.